From the course: Measure What Matters (Blinkist Summary)
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Continuous performance management
From the course: Measure What Matters (Blinkist Summary)
Continuous performance management
- [Narrator] Link number six. Coupling OKRs with continuous performance management will help bring about a transparent healthy workplace culture. If you work for a large organization it's possible that you've sat through an annual performance review. These reviews end up costing an average of 7.5 management hours per employee. A huge amount. Meanwhile, only 6 percent of HR leaders think the process is worth the cost. Now, just imagine you're a manager with 30 employees under you. That would mean one and half months of reviews. Luckily, change is in the air. Not only have over 50 Fortune 500 companies gotten rid of annual performance reviews. Many are replacing them with continuous performance management and their associated instrument of change CFRs. CFRs are the OKRs of the HR world and are all about having conversations with employees that entail both feedback and recognition. CFRs are a two way street.…
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