Top 5 Performance Appraisal Trends in 2020
Do you think the traditional method of evaluating an employee works for this generation? If you think so, change your thought process.
The millennial workforce does not hesitate to switch jobs. Earlier, a candidate, before appearing for an interview, would be anxious if he had job-hopping (minimum working experience in a company) in his resume. But, nowadays, Job hopping is becoming a common phenomenon. If the millennials have the skillset, they switch jobs until they get placed in a company where they can see growth.
For such a shrewd workforce, you cannot feed old appraisal methods.
The performance appraisal trends for 2020 will focus more on unbiased data-driven decisions.
Continuous Feedback Aid You in Retaining Millennials
In 2019, a survey states that only 28% of employees reckon that their managers focus on delivering real-time feedback than just filling out forms. In 2020, the managers will not fill in the appraisal forms for the sake of filling it, and it is not going to happen once in a year. Continuous feedback will be encouraged to identify and bridge the gaps in the performance of employees.
The continuous feedback helps when a transition manager rates an employee. Accurate data will be handed over to the transition managers to assess an employee.
Make Your Employees Feel Valued with Upward Communication
Richard Branson says, “people out on the frontline, they know when things are not going right, and they know when things need to be improved.”
Upward communication is as important as downward communication. The company’s growth depends on how well the higher management receives feedback from its employees. Employees to know their value and contribution when the management listens to their concerns and suggestions.
Learning is a Must-Have Policy for Companies.
Steven D. Levitt and Stephen J. Dubner in their book “Think Like a Freak,” say, “The key to learning is feedback. It is nearly impossible to learn without it.” The companies will adopt 360 degree feedback to pave the way to learning.
When the peers, subordinates, managers, and other internal and external stakeholders give feedback, an employee learns his/her strengths and weaknesses. The analytics and recognition help the employees to focus on their growth and productivity. The management will also provide additional learning opportunities to bridge the skills gap in the organization.
Coach Your Employees – Use Pygmalion Effect and Radical Candor to Bring the Best Out of them
The managers will be trained to deliver quality feedback. It is necessary for the managers to learn these two frameworks to succeed in coaching their employees.
- Radical Candor. Continuous feedback by managers should not be sharp criticism or ruinous empathy, as Kim Scott says. A culture of radical Candor should be embraced. The managers should care as well as challenge the employees to help them grow. It is difficult to practice the framework but not impossible. The radical candor culture delivers great results in productivity.
- Pygmalion Effect. Believe in your employees to make them believe in them. Your expectations can shape their performance.
Instant Gratification in the Form of Rewards and Recognition
A survey reveals that 4 out of 10 employees are dispirited when they do not get recognition from their higher management. I have a friend who was a content writer in an e-publishing team. She managed the projects and also the team very well when her manager left the company. She was very disappointed when she got a lower rating and no recognition. And she left the company.
If good performers leave the company, then it becomes a question of sustainability and profitability. In this digital era, the performance will be tracked continually, and the employees will be rewarded based on their performance.