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You have worked really hard to get where you are, and you should be congratulated for it. Dedication and a stalwart desire to achieve results have brought you the level of success you may be currently enjoying.
That being said, amidst the celebration, let’s not forget the people that have helped you along your journey – your employees.
It seems as though there are too many managers out there that seem to believe there are only two ways in which a business can be run, and a team led. They can either be highly engaged with the business that they work for,
Performance appraisals are an opportunity for employers and employees to have a dialogue on past achievements and future development plans.
Using specific performance management tools such as the employee performance plan to include the necessary competencies and behaviors, performance criteria and the expected outcomes, can help avoid bias. Moreover, it leads to employee appraisals that are based on data and reflect on actual accomplishments and progress.
Performance management is undergoing huge overhauls, given that what businesses define as success shifts seemingly every year. A study by Psycnet reported that performance management improves only 28% of staff and is overall a sunk cost.
While some companies spend decades on perfecting their individual performance review and evaluation systems, other companies such as Adobe, GAP or General Electric are eliminating them altogether.
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