Hear from our CEO as he responds to a Harvard Business Review article!
“We commend Deloitte for experimenting with new performance management practices that move away from single digits and forced rankings. While a comfortable practice in many organizations is to utilize a numeric scoring system, objectifying people into a number tends to be dehumanizing. Deloitte’s new system incorporates a very practical approach with weekly check-ins and standard assessment tools.
At Pariveda Solutions, a management consulting firm specializing in improving the performance of our clients, we are in the twelfth year of innovating employee development. We place the highest value on developing our employees to their fullest individual potentials. We have accelerated career growth by 30% compared with other best in class management consulting firms, and our people consistently engage at higher levels (top 15 percent) reflected through independent survey benchmarks.
Performance management should be continually evaluated to produce intended results and align with the organization’s objectives. For Deloitte, spending almost 31 hours a year per employee on performance management seemed inefficient. We average 24 to 26 hours per year per employee. We value effectiveness (return on invested human capital) over efficiency (hours per employee) as a measure of performance management system health. Employees are not airline passengers to impose less legroom, extract more baggage fees, or charge for peanuts in the name of efficiency and profit. Shouldn’t the primary criteria for effectiveness be accelerating the individual’s development? From this, so many good things flow for an organization and its people…”
See full article here
Categories: Hear from Our CEO, Thought Leadership
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