Managing Performance
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Kimberly SaylorBUS-FP3040Managing Performance Assessment 3Capella UniversityIntroductionDeloitte is a brand under which tens of thousands of professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, tax and related services to select clients (Deloitte, n.d).Performance Management Performance management is an approach that provides feedback, accountability, and documentation for the outcome of employee’s performances. Performance management isn’t just the responsibility of Human Resources or managers, but the entire organization is accountable. In 2016, Deloitte designed a new performance management system where they check-in regularly between staff and management. Nearly a year later, instead of conducting a yearly lengthy review, staff members now are asked to answer four questions on their smart phones every quarter. Once a quarter, management uses a performance snap shot of eight questions regarding their team members which is then aggregated into a regression analysis. Formal performance feedback process Performance feedback is important in every organization. Every company needs a performance system, and in order to receive the best efficiency out of it, companies should reevaluate their current performance review system and redesign a new one. Deloitte conducted a survey to find out what management thought of the performance reviews, and (58%) of managers stated that their current performance management is damaging employee engagement and not an effective use of time.When Deloitte decided to reinvent their performance management system, they decided to focus on “fueling performance in the future rather than evaluating the past”( Deloitte, 2015).Deloitte felt that a change was needed, because their current performance process was not transparent and focused primarily on the weaknesses rather than the strengths. The employee response to the new performance system was overwhelmingly positive
Informal performance feedback Both informal and formal performance feedback are important when it comes to any employee’s performance. Informal performance feedback should not take the place of formal performance evaluation. According to Deloitte “performance management practices that focus on routine feedback and development can be particularly beneficial to organizations” (Deloitte, 2015). Learning how to conduct more informal conversations related to performance lead to improvement rather than what drives employees away is just as important as formal feedback. Protection from Litigation The term litigation is a process used to describe proceedings that are initiated between two opposing parties to enforce or defend a legal right. It could easily be more than two years between a layoff, promotion or compensation decision and the manager’s deposition in a lawsuit brought by the employee (Friedel, 2009). Without proper documentation, it can be difficult for management to recall the specific rationale. Moreover, the manager who made the decision might not even still be employed. This is why leaving the written performance document is crucial when it comes to performance management in litigation. Win or lose, litigation can become expensive for any employer. Attention to the performance document on the front end can help any employer stay out of legal trouble at Deloitte, collective agreements are put into place to help protect employees and the employer.