Why MNCs prefer to Automate Performance Management Systems?
Organizations don’t want to know yesterday’s performance trends of employees, they need to know how to make them perform better today and how best we can develop for tomorrow. None of us look forward to the mundane ritual of annual performance appraisals, not just employees, even managers, HR leaders and even management consultants like me are tired of this yearly chore. The time and effort spent in administering performance reviews often go in vain as there is very little value addition in terms of improving the performance of the employees and in turn, improving the performance of the business. According to CEB Inc., 95% of managers are “unhappy” with traditional performance management, and feel that it could be made better. In addition, 59% of employees think that traditional performance reviews have “no impact” on their personal performance. Instant is the new mantra for everyone! The human psychology has changed a lot as we want everything in the moment. Employees do...