Performance management is more than just an annual review process.
The key to creating value is to develop more than just a check-the-box mentality around performance management. Many organizations miss the mark and rely solely on reviews, ratings, and extrinsic rewards, such as raises and bonuses, as their primary means of motivation. Reviews often fail to capitalize on the innate human desire to do good, grow personally, have meaningful relationships, maintain control, and do work they enjoy, all while providing clear expectations. The best companies find ways to enable employees to grow their careers through focused direction and real-time future-facing feedback.