Performance management is changing with the evolving workforces, work structures, and new technologies. If organizations are committed to developing their talent, then adapting to the current world of work is imperative.
Here are some of the biggest trends in performance management so you can stay up to date with current performance management strategies.
1) Continuous performance management
The annual performance reviews rarely provide an accurate representation of employee performance. 51% of employees find these annual performance reviews inaccurate and 90% believe they are painful and ineffective. To that end, many organizations are transitioning away from annual reviews. One study by Deloitte reported that 76% of the surveyed organizations are reinventing their performance management to be more continuous to satisfy the needs of employees.
