Some organizations wrongfully assume that enhancing software and processes alone will drive a necessary cultural change away from the traditional annual review. While it will certainly help, what you need is a framework to provide guidance to people managers around new habits, values, and expected behaviors that fuel a continuous performance management process focused on growth and development.
One of the most popular guiding frameworks is positive psychology, which focuses on building positive emotions, enabling people to innovate, grow, and inspire others. Get this guide to learn:
Where could you be more strategic in your total rewards spend? Are you funneling much of it into an annual bonus?
New research from Wharton shows that the annual bonus, a staple of many total rewards programs, can actually lead to unethical behavior, fuel turnover, and foster envy among co-workers. Sounds like unnecessary drama – and money wasted. More importantly, the performance boost of an annual bonus diminishes within weeks.
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A little rethinking and reallocation means you can increase your margins without adding a penny to your budget.
Like most good things in life, modern performance management is about the journey – not the destination. It doesn’t stop with one feedback session or annual review, and there isn’t a particular touchpoint that will inspire an employee to grow into their best self. Instead, it’s ongoing – which matches the workplace evolution toward collaborative, fast-moving teams and continuous feedback.
In this roadmap, you’ll learn about the eight stops on a successful continuous performance management journey. Pack a bag, buckle up, and uncover: