Some companies are dropping traditional performance appraisals. There is a view that Performance Reviews are often biased and the annual cycle leaves employees waiting too long for feedback. Based on CEB’s recent search,
4 percent of HR Managers feel they have an effective performance management system, down from 23 percent in 2012.
6 percent of organizations have eliminated performance ratings, up from 3 percent in 2014.
One-third of the highest performers receive performance scores based on their actual contributions to the company's performance.
Talent development is more important than ever, especially given the preferences and motivations of Generation Y. Millennials are changing the way we do business.
And so the future of performance management will see significant changes in 2017. We believe that companies do not need to throw out performance reviews altogether; they can still reap the benefits – fairness, transparency, and development – while managing the costs. Our speaker Helen Chou - together with Maria Chao (Head of HR at Gogoro) - will share best practices together to explore new trends and solutions in the in appraisal. Attendees are also encouraged to bring issues/or challenges for further discussion.