Companies today are increasingly aware that the traditional annual performance review is ineffective when it comes to actually increasing employee performance. In fact, just 12% of respondents to a Deloitte survey indicated that this process was highly effective in driving business value, while only 6% of organizations responded their current process for managing performance is worth the time.
This is a huge problem. Developing and nurturing a motivated workforce is one of the single most important things any organization should focus on, and if your current performance management process isn’t delivering on that then it’s time to make a change.
