Great news! At long last, the argument against annual performance reviews appears to be winning. Organisations that have already moved to ratings-free performance evaluations are showing no signs of turning back, and the number of businesses following these trailblazers are swelling fast. However, there still lurks one sticky dilemma that HR professionals are wrestling with… How to eliminate ratings but keep individual performance bonuses.
If I ran a company which made its revenue from promoting yearly surveys, I would be seriously thinking about Blockbuster and the lessons that could be learned by ignoring disruption. Surely, companies selling annual satisfaction/engagement surveys can not keep expecting significant chunks of ever-tightening HR budgets, armed only with promises of design validation and top quartile benchmarking…can they?
We are almost at the end of August 2018 and no doubt several HR professionals out there are entering another period of a “HR Transformation”. Perhaps unsurprisingly, these initiatives are likely to be over budget, behind schedule and those involved may be beginning to question if the panacea promised by the HR Solutions Provider will actually ever materialise. Believe me, I’ve been there too so I know the struggle is real…
Whatever industry you’re in, it’s likely that you have globalisation initiatives on your radar. Many business leaders get overwhelmed by the number of hours they have to put in because budget restrictions limit hiring ability, can’t find the right people, or are just unable to delegate. However, loosening the reigns and assigning tasks to the people who are most suited to carrying them out is vital – especially if your business is in a growth phase and your employees are spread out over multiple geographic locations.