CR Team

A recent study by People Business on performance management stated that companies are making changes in their age-old way of conducting the appraisal. The report on performance management and best practices taking shape, states how firms are bringing about changes when reviewing employees. It also stated that some were doing away with the bell curve model and make the battle fiercer.

 Mervyn Raphael, Managing director of People Business, points out that, performance management is one of the most debated practices that organizations undergo on a regular basis, but there is not much debate on the value of performance management and the effectiveness of the process and how organizations can use it for building a high-performance workforce are of paramount concern.

The study 'Trends and best practices in performance management' by People Business also states that - KPMG has been revisiting its employee engagement policies, performance management and hiring strategies to shield key people from the competition and fill talent gaps. The study also points outs that a pilot will be carried out at KPMG, where the much -debated bell curve will be done away with for the new financial year.

As per Sandeep K. Krishnan, Director of People Business the managers should learn the art and science of formal and informal feedbacks throughout the year and the employee need to be engaged in these discussions and be open to the feedback and taken action on the same.

According to the study, companies highlight the need for 'champions'. Leadership needs to visibly support the initiative by them using the tool. Through the organization, skip-Level reinforcement is a key to ensuring success. India Inc, however, is making improvements in their appraisal systems, according to People Business.

A recent study by People Business on performance management stated that companies are making changes in their age-old way of conducting the appraisal. The report on performance management and best practices taking shape, states how firms are bringing about changes when reviewing employees. It also stated that some were doing away with the bell curve model and make the battle fiercer.

 Mervyn Raphael, Managing director of People Business, points out that, performance management is one of the most debated practices that organizations undergo on a regular basis, but there is not much debate on the value of performance management and the effectiveness of the process and how organizations can use it for building a high-performance workforce are of paramount concern.

The study 'Trends and best practices in performance management' by People Business also states that - KPMG has been revisiting its employee engagement policies, performance management and hiring strategies to shield key people from the competition and fill talent gaps. The study also points outs that a pilot will be carried out at KPMG, where the much -debated bell curve will be done away with for the new financial year.

As per Sandeep K. Krishnan, Director of People Business the managers should learn the art and science of formal and informal feedbacks throughout the year and the employee need to be engaged in these discussions and be open to the feedback and taken action on the same.

According to the study, companies highlight the need for 'champions'. Leadership needs to visibly support the initiative by them using the tool. Through the organization, skip-Level reinforcement is a key to ensuring success. India Inc, however, is making improvements in their appraisal systems, according to People Business.