HR has lost confidence in the traditional review process.
Forty-five (45%) percent of human resources (HR) leaders don't think annual performance reviews are an accurate appraisal for employees' work. And 42% don't think employees are rewarded fairly for their job performance.
HR has lost confidence in the traditional review process. Most people know that employees dread annual reviews, but when nearly half of HR professionals agree, it's clear we need a new approach to how employee performance is measured and evaluated.
A group of independently deciding individuals is more likely to make better decisions and more accurate observations than those of an individual.
...managers criticize the inflexibility and infrequency of a formal, forced process. It's an industry awakening to a system that is no longer effective on its own for the way companies and people are managed today.
For example, managers are tasked with using only their own observations and analysis to appraise employees, yet many don't have the tools to record pertinent events as they happen.
...Enter the wisdom of crowds — or crowdsourcing. A group of independently deciding individuals is more likely to make better decisions and more accurate observations than those of an individual.
Crowdsourcing, by leveraging social recognition data, is a better way for managers to collect, evaluate and share information on employee performance. In many leading organizations, it is already redefining performance management and transforming all of HR.
Recognition is something that comes naturally —...co-workers and peers can identify and reward desired behaviors and cultural attributes through unsolicited recognition, as they happen.
And unlike 360 degree reviews, which require ...provid[ing] a formal, forced review of an individual, crowdsourcing is inspired peer-to-peer performance feedback.
This stream of recognition...often appears in internal social newsfeeds, provides timely, measurable insights into your talent, top influencers and performers.