What Were Your Key Takeaways From The Article?

What were your key takeaways from the article?

The article highlights how performance management systems are becoming increasingly important in the ways that employees are compensated, promoted, and overall employee value in a group. Implementing effective performance management strategies can reduce the number of hours consumed spent on tracking performance. The tracking system that Deloitte used required 2 million hours a year to evaluate performance, one of the new objectives of their new system is to reduce the labor cost involved in appraising performance. Also, developing a strong strategic approach when it comes to defining the problem, creating goals, and establishing a conclusion to help managers to evaluate performance is vital to boost performance in the future.

What do you see as some of the pros and cons of the Deloitte’s performance snapshot approach?

This system will allow the company to engage with employees in a more harmonized style while conducting and analyzing performance metrics. Also, collaborating with the team leaders and retrieving feedback on “what they would do with each team member rather than what they think of that individual” will improve employee engagement and satisfaction. The advantages of Delotte’s performance snapshot approach is that it will have the functionality to analyze the feedback from team leaders, determine compensation, guide promotions, and address low performers all while reducing the time spent to evaluate analyze data. The cons of the snapshot approach is that there is no mention of key research findings on how effective this approach will be on the performance management