Here's the top performance management trends followed by global companies

Posted on 30th Mar 2016 | 1006 views

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The global giants including Adobe, Accenture, General Electric and others restructured their performance appraisal system by eliminating traditional annual employee review programs.

Adobe: Adobe ended their annual appraisal system and initiated regular Check-ins' followed by 'Frequent Feedback' program. Now, Adobe follows no ranking /rating policy, follows check-ins conversations to appraise the candidates. This initiation is resulted in increased employee engagement, while connected with their employees and make them feel valued, engaged, goal-oriented, performance-driven workforce.

Deloitte: Deloitte also abolished the Once-a-Year' Performance Review, 360 Degree Feedback and Objective Cascading methods from their HR policies. HR experts believe that this old methods consumes more time. Deloitte's new process allows each team member to discuss ongoing tasks/priorities, comment on their recent work and provide training for skill enhancement. Regular check-ins enhances communication among employees and managers connect with their employees consistently.

GE: General Electric ended their traditional 'Rank and Yank' system for employee appraisal which includes yearly appraisal of an employee. Recently GE replaced their 'Rank and Yank' policy with Frequent Feedback and Regular Conversation, named 'Touchpoint' for employee progress review, supported by an Online Mobile App. The revived employee review policy allows managers to enable the real time performances of their team members. It engages with employees to enhance transparency, feedback mechanism and realistic goals.

Accenture: Accenture abolished their traditional annual Employee Ranking and Evaluation system. Meanwhile, the employees enabled with frequent discussions to progress their careers. It was resulted in creating more open engaged work culture within the firm.

Cargill: Cargill also replaced its performance appraisal process in 2012 by 'Everyday Performance Management' technique. This new technique resulted on constructive and transparent feedback with frequent on-job conversations. It also offered reward and recognition for managers who performed day to day performance.

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