Performance reviews are often looked upon as a dreary and a time-consuming process. In order to accomplish this, organizations arrive at certain numbers for the annual increments. Often both manager and the employee conclude the process as a mere procedure and mostly one way, i.e., feedback from manager to employee wherein the employee gets an opportunity to hear about his yearlong performance in a nutshell. How effective will that be? But we still follow this system in organizations? Why? We all know feedback has most value when it’s fresh in our mind. The receiver will have many more chances to think back about the situation and follow-up in a timely manner.
A feedback rich culture in any organization can address many problem behaviors and reward exceptional performance as it happens. This can remove some bitterness for letting an easily fixed issue remain for months and eliminate surprises.
The essence is that performance reviews suffer from a widening gap between managers and employees’ expectations. Companies need to radically change their process for sharing feedback in order to retain top talent and stay competitive. HR professionals and organizational change experts have been forecasting the expiry of the traditional performance review for years, not just because research and studies says this, but because they’re all slowly becoming unconnected with today’s changing world.
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