Business Game Changers Radio with Sarah Westall: How Performance Management is Killing Performance
08/08/2016 12:00 pm PDT
Performance management is meant to track progress and continual improvement of workers while also engaging, motivating, and rewarding people based on their individual efforts. The problem is that today’s methods of performance management is doing the opposite, it’s destroying performance. Simply put by a major consulting firm:
- Everyone hates it.
- Nobody does it well.
- It doesn’t work.
Deloitte Studies show that only 8% of companies believe their performance management process is highly effective in driving business value, while 58% say it’s not an effective use of time. Further, their studies point out that 75% of respondents believed performance is a key issue, and 89% were either in the process of changing their system, or were planning to do so within the next 18 months.
Why does performance management not work? According to PeopleFirm CEO Tamra Chandler, “There are 8 Fatal Flaws of Performance Management and it’s time to leave the past behind… old-school methods of tracking talent, forged in the postwar 1950s simply won’t work in today’s business environment.”
What are the 8 fatal flaws of performance management? Tamra Chandler joins us this episode to explain what the fatal flaws are. She also shares other insights:
- Why a work culture based on need-to-know kills the urge to participate
- How to recruit “change champions” to support your revamp efforts
- How to engage millennial employees
- And many other useful tips
We also discuss why better methods need to be implemented across not only business enterprises, but also across politics, schools, and other institutions in society so we can thrive as a whole.
Tamra Chandler is the CEO and co-founder of PeopleFirm, one of Washington State’s fastest-growing businesses and most successful women-owned firms. Her company is consistently been recognized locally and nationally as a top place to work.
She’s the author of a new book, “How Performance Management is Killing Performance – and What to Do About it”. You can learn more about her and her company at www.peoplefirm.com
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