The way companies conceptualize and execute performance management has been slowly dying for the last eight to 10 years. If you haven’t already heard about this, you will soon. Fortune 500 organizations have become more sophisticated with regard to the data they have and analyzing its impact.
Most of those same organizations have specifically analyzed their performance management and 360 data only to find no relationship with increased performance or employee engagement. This was a shocking finding and I would imagine most of these same organizations weren’t all that interested in widely publicizing the fact that their internal procedures had little to no impact on their bottom line.
However, once larger organizations, such as Deloitte, publicized their findings, then it was easier for more organizations to join the conversation.