You’ve probably heard the news by now: annual performance reviews are on the endangered species list. But there’s good news: many studies have found that performance reviews and career management, when done right, drive engagement in a big way.
What do we mean by “done right”? That’s what we’re going to explore, but to kick things off, here are the main points you need to know.
First, the traditional annual performance review doesn’t really lay the foundation for a dynamic coaching environment. Think of the annual review as a New Year’s resolution. Once a year, we make these lofty goals, maybe buy an expensive gym membership and then… we never actually make it to the gym.
Second, a more sophisticated and holistic approach to career management is a win/win for employer and employee. Companies need to nurture and grow talent to plan and prepare for future needs. And talented people want to feel they are on a career track, not a hamster wheel.
Ready to learn more? Check out A Buyer’s Guide to Talent Development and Career Management: 4 Ways to Build a Culture of Growth and Development.