Evidence from Korn Ferry research suggests that at least a quarter of organisations are in the process of changing their performance management approach and many others are considering doing so. The key changes of this ‘performance management revolution’ are:
These changes focus performance management on continuous improvement and timely feedback - a continuous process rather than simply an annual appraisal event. But what does this mean for reward practitioners? Performance ratings have played a key part in the determination of annual pay and bonus awards but in the light of these trends, we see the development of different approaches to managing link between performance and reward.
In the second session of the Changing Face of Rewards in EMEA Webinar series, Mark Quinn, Mark Thompson and Annette Goldhausen will explore through case studies and discussion what organisations can and should do to maintain and strengthen the alignment of performance and reward.
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