In a radical workplace move, Deloitte Australia is getting rid of those dreaded bi-annual performance reviews,
Instead, its 6000-strong workforce from December will be out through real time performance assessment criteria.
“We’re blowing up performance management,” Deloitte Australia’s head of people and performance Alec Bashinsky told the Australian Financial Review.
“As of December we’ll be taking the whole firm off of performance management as we know it today.”.
A number of companies like Microsoft, SEEK and Accenture have already taken the same strategy.
Deloitte has been moving in this direction globally.
In a survey written up in the Harvard Business Review in April, more than half the executives questioned (58 per cent) said that their current performance management approach did nothing for employee engagement nor high performance. They wanted something nimbler, real-time, and more individualized, something that focused on future performance rather than looking at the past.