Forward thinking HR and business leaders know that effective performance management practices are critical for achieving desired business outcomes related to growth and innovation.

Betterwork’s second annual State of Continuous Performance Management Survey showed that companies with 500+ employees who have moved to continuous performance management process saw significantly improvements of key challenges associated with annual reviews.

This includes:

• Reviews being too subjective — reduced by 34%
• Reviews failing to improve performance — reduced by 32%
• Managers not providing quality feedback — reduced by 39%
• Review process doesn’t help retain top talent — reduced by 27%

This year’s survey also showed how both HR team and people managers are looking for technology to help managers improve their consistency with and impact from crucial conversations with their team members around goal setting and alignment, feedback, development and recognition.

• 87% of HR leaders responded that managers would benefit from tech that would help them solicit and manage feedback
• 84% say that technology helps them have the relevant conversations they need to be having with their employees
• 82% want technology that reminds managers to have relevant conversations about performance and development with employees on a regular basis

Net net, a majority of enterprises are no longer questioning if they need to ditch annual reviews for a continuous process, but rather are now focused on how to get started.

Join Deborah Holstein, (LinkedIn profile), CMO at Betterworks, as she shares critical trends and insights from Betterworks’ 2018 State of Continuous Performance Management Survey and outlines the steps you need to take to upgrade your current performance management practice.