Inside this issue:
- ·Why performance reviews need a rethink
- Picking an appraisal method that fits
- Why consider continuous feedback
- A quick puzzle ????
Hi HR folks!
Appraisal season is here.
And you know what follows next.
Anxiety is at an all-time-high, calendars are filling up, and performance conversations are about to get… complicated.
Right on cue, our inbox has started filling up with a familiar question from HR professionals: What if the annual performance review isn’t always the right approach?
A use case they often bring up is Netflix.
In a recent episode of “The Pragmatic Engineer” podcast, Netflix CTO, Elizabeth Stone, confirmed that the FAANG company has moved on from formal performance review towards a more “continuous, timely, candid feedback.”
But does this mean you should blindly dive into continuous feedback?
Hold on to that thought.
The Need to Reimagine Performance Reviews
Here’s a truth bomb. The way we work has changed, permanently.
As the world moves towards remote, hybrid and gig work, performance management must evolve to keep up.
Deloitte found that nearly 90% of organizations redesigning performance management saw higher engagement, while 83% reported better manager–employee conversations.
The need to redefine performance management today is urgent. Here’s a blog where we dive deeper into the topic.
How to Choose the Right Appraisal Method
We’ve already unpacked at why traditional performance reviews need a rethink. Now, let’s take a look at how to choose the right model for your organization:
Step 1: Start with your culture and goals
Choose a method that fits how your teams work and what the business needs.
Step 2: Check manager readiness
A system only works if managers can give clear, timely feedback.
Step 3: Decide what the appraisal is for
Growth, pay, promotion, or all three need different approaches.
Step 4: Pick a method that supports regular feedback
Reviews should guide improvement, not just rate the past.
Why Consider Continuous Feedback?
Here’s a fact. According to Gallup, companies that conduct frequent employee check-ins see 21% higher profitability and 31% reduction in voluntary turnover. In fact, 81% of employees prefer to have performance discussions with their managers at least once every quarter. Learn all about this model here in our blog.
Puzzle of the Week
Ok enough of the serious stuff. Let’s have a little fun. Here’s a jumbled word for you to decode the theme of our next newsletter.
L A R Y O L P
Got it? ????
Until next time!
