Performance management process affects all the challenges related to learning and development, leadership, culture and engagement and workforce capability and hence, is one of the most important processes for organizational transformation.
If we consider the case of Adobe, in 2012, Adobe instituted “check-ins”—ongoing discussions between managers and employees to set expectations, offer feedback on performance, and recognize strong work. The initial impact was profound: Adobe benefited from a 30 percent reduction in voluntary turnover in a highly competitive talent environment.
Performance management is being reinvented for a new, forward-looking purpose: to serve as an efficient, focused business process that improves employee engagement and drives business results and focuses majorly on agile goal setting, regular feedback, coaching, and development.