22 Truths about Performance Management: Insights from the Performance Management Summit

Performance management has evolved from multiday conversations between manager and employee geared toward developing the employee for a management role to one annual conversation to communicate merit pay. Now companies are overhauling their performance management systems to eliminate ineffective processes that do not reflect a contemporary workforce, remove organizational baggage that constrains good feedback conversations, and elevate ongoing feedback and coaching. While there is debate about what type of performance management system works best (e.g., removing performance ratings or meeting quarterly instead of annually), everyone agrees that changing the performance management system will require a culture change.