Talent

Employers Modernizing Performance Appraisal Process, says Towers Watson

Despite dissatisfaction with their performance management programs and attention-grabbing headlines, most North American employers have no intention of eliminating their use of performance ratings.

Instead, many are making significant changes to fix the overall process, such as replacing annual performance review cycles with more frequent employee and manager interactions, applying a more future-oriented definition of performance and potential, and implementing new technology, according to a survey by global professional services company Towers Watson.

The survey found that less than four in 10 (37%) North American companies say their performance management programs are effective. Additionally, only a quarter (26%) say their managers and employees are satisfied with the process. Half of the respondents agree that employees and managers just don’t spend enough time on performance management.

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