Goodbye Annual Performance Reviews, Hello 90-Day Career Investment Guide
Hello, O’ Brilliant One: Today I invite you to shift your thinking about how men and women are evaluated for their performance in business.
Performance development plans have long been in use in organizations. They serve as important tools for managers to evaluate the performance of their subordinates or employees in general and provide an efficient way of encouraging staff to aim higher in productivity and output. However, as companies face new environmental and competitive challenges, conventional performance development plans are a thing of the past.
Did you know that Accenture recently announced in The Washington Post their very bold move to abandon performance reviews and rankings? They are not alone in believing that it’s time for a change.
According to Deloitte, “Only 8% of companies in our survey report their performance management process drives high levels of value, while 58% say it is not an effective use of time”.
Organizations are seeking to implement a better performance measurement system that best caters to the needs and challenges of their employee. One such game-changing solution is the 90-day career investment guide.
This guide—also known as the 90-day performance management plan—is a tool designed for managers to engage, motivate, and empower employees over a 90-day period. It involves setting performance targets as well as fostering a set of best practices and organizational culture devoted to enriching the productivity of employees. Benefits to Employees For employees, 90 days is a sufficient amount of time for them to improve their work practices, embrace demands, and rise to challenges. The same cannot be said of annual performance reviews, where everyone is scratching their head to remember their overall contributions to the organization. In addition, the 90-day career investment guide provides employees an important checkpoint to evaluate their own strengths and opportunities, and recognize early on specific areas to work on the most. This allows them ample time to make the necessary improvements to qualify for the periodic merit increase. Furthermore, employees are afforded the room to clear any uncertainties that might linger and also inquire about any expectations and commitments that might be required from them by their managers. Also, in the 90-day performance review employees are given a forum for discussion with their managers in a frank and open setting.
Benefits to Managers For managers, the plan provides them the clarity and proper direction on how to cultivate the best in their employees and how to gauge their productivity to meet organizational goals. It is designed to strategically link to the organizational goals and objectives. Most importantly, the 90-day review effectively develops an optimal manager-employee relationship based upon mutual trust and a professional manner. The employee knows that upon meeting the goals of the review, he or she will be rewarded by their manager or employer and the employer expects the employee to work hard and deliver per the agreement.
Simply put, the 90-day career investment guide provides an important mechanism for managers to extract the best work from their employees and direct them to meet the wider organizational goals and objectives. Are you ready to try a new strategy that will positively impact the growth of your business? Then join me on this soapbox and partner with your organizational development and HR teams to execute the 90-day career investment guide, today.