Let’s face it, assessing performance accurately and fairly is a messy affair. To a large extent, the subjectivity involved in measuring performance has made it one of the top challenges leaders face today. Accordingly, 360-degree feedback has been widely used in performance appraisals as it provides a broader perspective on employees. Proponents argue that it eliminates the singularity in the opinion that holds many employees hostage by the views of their managers. 

Hear from EngageRocket co-founder CheeTung Leong on the Top Entrepreneurs Podcast with Nathan Latka: "This Singapore Based SaaS Helps You Manage Employee Feedback, $40k in MRR, 8x yoy growth".

We often hear the term ‘corporate culture’ in our office or corporate life. Companies around the globe, especially in South East Asia are focusing on building strong workplace and corporate culture. 88% of employees believe organizational culture is an important aspect of their work life. Gone are the days when the conventional workplace ethics and consulting methods work. Now is the time to adopt a more dynamic workplace culture.

A well-defined employee retention methods will have a positive and significant impact on the turnover rate of your organization.

According to the Leigh Branham, the Strategic Planning Consultant, more than 70 percent of the managers tend to think that it is the pay that causes an employee to leave. On the contrary, about 88 percent of the employees tend to leave respective jobs not only because of pay but also other factors that may include:

• Employees often feel the workplace or job doesn’t match their expectation before joining the firm.
• A mismatch between the job and the skills held by the employee.
• Minimal coaching with no feedback for the same.
• Minimal advancement or growth opportunities.
• Employees feel devalued or unrecognized.
• Minimal work-life balance that causes stress.
• Loss of confidence or trust in the senior leaders.

From the military to start-ups, leaders always want to know the secret sauce to help their teams perform better. This has driven the birth and evolution of performance management systems.

But what is a performance management system?

Why is it important?

Why do people seem to hate existing ones?

And, how can we build one that employees will love?

Today’s workforce looks less and less like it used to. 95% of TAFEP’s 2014 survey said that they work in multi-generational teams, that has members aged anywhere between 18 to 70.

Let’s face it – humans were not built or meant to be robots. We were not made to be repeating the same things over and over again. Rather, we were meant to innovate and improve processes as time goes by.

In an earlier post, I covered the potential of pulse survey data to unlock the secrets of employee motivation and retention. Google, Amazon, and Adidas, among others, have already reported making strides in this direction.

The concept of employee engagement is nothing new -- it’s been floating around for decades. Most firms know that engaged employees stay longer, strive to work harder and produce more.

When it comes to creating employee engagement, 87% of organizations cited it as being one of their top priorities. An estimated 66% of companies survey their people regularly. Yet, in their 2017 global study, Gallup finds that only 15% of employees are engaged at work.