McKinsey Talks Talent What works—and doesn’t—in performance management
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Nov 19, 2024 Dive into new research that reveals what truly motivates employees and where organizations often go wrong in performance management. Discover the essential role of clear goals and continuous feedback, alongside the transformative potential of generative AI. Explore strategies for supporting underperformers and the significant impact of financial and non-financial rewards. Address crucial gender biases that hinder women's career advancement, and learn how clarity and collaboration can rejuvenate outdated performance systems.
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Simple Goal Setting
- Simplify goal setting by focusing on a few critical, measurable goals.
- Integrate these goals into daily work routines, using tools like OKRs for ongoing performance dialogues.
Clarity over Ratings
- Ratings themselves don't matter as much as understanding where you stand.
- Employees need clear markers and indicators for growth, not ambiguous conversations.
Fair Implementation
- The type of rating system (or no rating system) is less important than how it is implemented.
- Fair, fact-based differentiation between employee ratings is crucial.