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What Will the Performance Review Look Like in 2016?

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The traditional performance review has served as an organizational staple for decades. Though these reviews have helped employees set meaningful goals and objectives, their decline is now a growing trend. We are entering a new era of performance development, and here are a few changes to the Performance Review that you can expect to see in 2016.

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What Will the Performance Review Look Like in 2016?

  1. 1. WHAT WILL THE PERFORMANCE REVIEW LOOK LIKE IN 2016?
  2. 2. Presented by
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  4. 4. Performance reviews have been an organizational staple for decades. Whether through a 1:1 conversation or written reports, these reviews have helped set goals and objectives for employees to work towards and be reviewed on.
  5. 5. But the decline of the traditional review is a growing trend, and for good reasons. According to a Deloitte University study, Only 8% of companies report that their performance management process drives high levels of value, while 58% said it is not an effective use of time. Today’s widespread ranking-and-ratings-based performance management is damaging employee engagement, alienating high performers and costing managers valuable time. SOURCE
  6. 6. And research reveals today’s assessments are actually more reflective of the rater than the ratee. When the majority of ratings of another person are based on an idiosyncratic pattern of rating different people the same way, 61% of a performance rating is typically a reflection of the rater, not the ratee. And a mere 21% is actually based on the ratee’s performance. The more complicated you make the scales and the model, the more inaccurate the rating gets. SOURCESOURCE
  7. 7. So, what should the performance review of 2016 look like to be more effective? How do you switch the thinking from “managing” a person’s performance to “developing” their strengths, providing ongoing feedback, and giving meaningful recognition that inspires innovation and great work at all levels?
  8. 8. WELCOME TO THE NEW ERA OF PERFORMANCE DEVELOPMENT: EMPOWER EMPLOYEES TO SET GOALS PER INITIATIVE FOCUS ON INDIVIDUAL STRENGTHS PROVIDE ONGOING FEEDBACK GIVE MEANINGFUL RECOGNITION
  9. 9. While the annual performance review relies on manager feedback, performance development in 2016 should rely on real-time reviews of each initiative right after completion. Through feedback tools, goal-setting apps, and team communication capabilities, every team member can begin working towards a set goal and measure progress along the way without waiting for year end. 1. EMPOWER EMPLOYEES TO SET SPECIFIC GOALS PER INITIATIVE
  10. 10. As organizations are quickly finding out, assessing skills has also created inconsistent data. Worse, these skill assessments are hindering employee productivity and motivation. Instead of time-consuming skill assessments, managers should look for ways to focus on employees’ strengths and future actions. 2. FOCUS ON INDIVIDUAL STRENGTHS
  11. 11. A study by Gallup found that people who use their strengths every day are six times more likely to be engaged on the job. When employees feel that their company cares and encourages them to make the most of their strengths, they are more likely to respond with increased discretionary effort, a stronger work ethic, and more enthusiasm and commitment. SOURCESOURCE
  12. 12. Research shows that yearly feedback is not enough to motivate employees—especially if they’re Millennials. Instead, employers will start to develop systems of frequent feedback and check-ins, remembering that open lines of communication build trust and teamwork in the workplace. 3. PROVIDE ONGOING FEEDBACK
  13. 13. Donna Morris, VP of people and places at Adobe, explains her experience with consistent feedback with performance management. Our check-ins provide a disciplined framework for establishing expectations, which is really fundamental…when employees are provided with continuous, ongoing, genuine feedback, they can really make an impact and get back to those business priorities. SOURCESOURCE
  14. 14. Why is recognition critical to employee development? According to 2015 research by Aon Hewitt, 72% of employees value communication and recognition from their leaders, and 46% report they don’t get enough. Employees want more feedback on their job performance and recognition of efforts and achievements from their direct managers. In fact, employees who get recognized and encouraged to share ideas and opinions with others are 3x more engaged. Towers Watson research also finds recognition done well increases trust, communication, accountability and goal-setting attributes. 4. GIVE MEANINGFUL APPRECIATION SOURCE
  15. 15. The year ahead will see more employers, managers, and team members focus on appreciating great work, especially when performance is aligned with company values such as customer care, innovation, and teamwork. Organizations that take the extra effort to empower all employees to create meaningful recognition experiences will see a boost in engagement, productivity, retention, and overall great work. SOURCE
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  17. 17. O.C. TANNER AND THE O.C. TANNER INSTITUTE O.C. Tanner, number 40 on the 2015 FORTUNE 100 Best Companies to Work For® list, helps organizations create great work environments by inspiring and appreciating great work. Thousands of clients globally use the company’s cloud-based technology, tools, awards, and education services to engage talent, increase performance, drive goals, and create experiences that fuel the human spirit. Learn more at octanner.com. The O.C. Tanner Institute regularly commissions research and provides a global forum for exchanging ideas about recognition, engagement, leadership, culture, human values, and sound business principles.
  18. 18. REASONS LEADERSHIP DEVELOPMENT FAILS 4 EMPLOYEE DEVELOPMENT STRATEGIES FOR YOUR REMOTE WORKFORCE 7 KEY INSIGHTS FROM HR TECH 2015 5 Everyday Objects that are the Result of Great Work MYTHS ABOUT GREAT WORK: AND the Reality of What to Do to Make it Happen 6 ? MORE PRESENTATIONS BY O.C. TANNER

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