Another firm moves away from an annual appraisal process.
We are seeing more firms looking to do the same as their people want more regular and relevant feedback on their performance. In our experience, firms that continually challenge their own internal processes will not own get the most from their people but will also be more attractive to the future talent coming into the business.
No longer will we rely on forced rankings and comparisons of employees to peers around the globe to measure performance. No longer will we fill out time-consuming assessment forms that focus on the past. It’s not what we need, and it’s not how the millennial generation wants to be recognized. The focus is on the future and how—through frequent, timely and individualize coaching discussions—people can improve their performance, develop professionally and achieve their career aspirations.