With every passing year, evidence supporting the effectiveness of continuous performance management continues to mount. As a result, more businesses than ever are reassessing their performance processes. But overhauling performance management – something that impacts every single employee in the company – is no small task.
It’s safe to say that Continuous Performance Management is here to stay. In a relatively short space of time, it’s become the go-to model for companies looking to get the most out of their employees, improve engagement and decrease attrition.
The performance management revolution is well and truly under way. What was once a trickle has become a flood, with many businesses opting to replace traditional performance management practices with the development-driven continuous performance model.
The last five to ten years have seen nothing short of a revolution in the way organisations tackle performance management. During this time, the once universal annual appraisal has been replaced with a more modern, iterative approach – the continuous performance management model.
For many years, performance management was handled in the same way by organisations across the globe – the annual performance appraisal. This process saw employees sit down with their line manager once a year to discuss feedback, set targets, and ultimately receive a rating based on their performance.