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Zenger Folkman Shares Research on Improving Performance Management SystemsMany organizations struggle with having an effective performance management system. Research has shown that performance reviews result in negative outcomes more than 30% of the time. As a result, some organizations have abandoned traditional appraisals and others have eliminated rules altogether and let people govern themselves. Every organization needs to find a middle ground because performance management, in some form, is here to stay, while at the same time there is a clear mandate for change. "When a performance management system is done well, there are positive outcomes," said Jack Zenger, CEO of Zenger Folkman, "With no system in place, feedback between leaders and employees is less frequent or often non-existent. Organizations need systems that set objectives and define work plans. Compensation requires an underlying rationale for its administration. Additionally, the periodic appraisal provides legal protection for the firm in cases of demotion or termination. Even more importantly, employees want feedback on their performance and need to know how they can improve performance and further their career." Zenger Folkman research has shown some key elements that can improve the quality of any performance management system.
To learn more ways to improve your performance management system attend Jack Zenger and Joe Folkman's webinar, Redefining Performance Management: How Celgene and General Motors Are Approaching the Challenge, on Wednesday, Feb. 22, 2017. For more information on these findings, and how to incorporate them into a leadership development plan, visit www.zengerfolkman.com. About: Zenger Folkman exists to develop better leaders. We research leaders from all over the world and create insights that are delivered to individual leaders in a personal and constructive way. These scientifically derived insights include prescriptive actions that become measurable business results. To learn more, please visit our website: www.zengerfolkman.com.
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