Build A Competitive Workforce By Redefining Performance Management In 2017!

Annual performance appraisals have been around for many years. Due to increasing inefficiencies in the performance review process, many companies have dropped their annual performance appraisals in 2016.

As annual performance reviews are fading away, organizations are becoming determined towards employee development and regular feedback. Organizations need to redefine their performance management process to produce high numbers of top performers and build a competitive workforce.

Many companies have shifted their focus from complex, ineffective performance management process to ongoing discussions revolving around regular performance feedback, skill development, mentoring and transparency in people-related processes.

For the coming year, employers have planned to develop employees faster and improve team collaboration to get advantage over attracting, engaging & retaining top talent. Look at the infograph to see reasons of failure of traditional performance management process and ways to make it more effective.

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