Reinventing Performance Management

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Reflection on Reinventing Performance Management
Reflecting on the article; Reinventing performance Management by Marcus Buckingham and Ashley Goodall, critically evaluate the measurement tools and methods for performance management by specifying the research by Deloitte. The article emphasizes that neither high performance nor employee engagement is essential to assessing performance, but innovation; the performance management system offers real-time efficiency. Compared with the traditional measures for performance, modern performance indicator relies on individual distinctiveness, which is considered an idiosyncratic rater effect and focuses on collaboration instead of 360 feedback. Deloitte concludes that team collaboration is the modern trend to advance employee outcomes and customer satisfaction.
The article emphasizes individual competency as the core performance indicator to transform working patterns and meaningfully attain future goals. In modern practices, feedback from peers, partners, and managers is considered inefficient, whereas immediate outcomes from the supervisor based on the defined factors help the management demonstrate the performance gaps. Also, Deloitte mentioned four questions to limit the idiosyncratic effect.
* If the compensated money belongs to the leader, then would he pay the compensation to the employee for his unique capabilities and performance based on the knowledge of his productivity to work,
* Evaluation based on the team performance, Does the leader select that person in his team or not based on the performance.
* Measuring the promotion credibility of the person based on today’s performance; Yes or No decides his performance,
* Evaluation based on the performance risk affects customer satisfaction and team collaborations.
The transformed understanding of the performance measuring methodology reinvents the mechanism and assists future leaders in being more accurate when making decisions concerning compensation. Also, the article magnifies the effectiveness of team collab...