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Many executives at established companies are hesitant of leaving ratings behind. Without ratings, you lose your formula for compensation updates and an objective performance measure that shields a company from lawsuits.
This, at least, is the argument keeping ratings intact in many organizations. Meanwhile, smaller startups and industry leaders such as Goldman Sachs are pivoting away from a traditional performance management process, and getting rid of ratings completely.
In this ebook, we’ll explore:
- The role ratings play in employee experience, including motivation, engagement and retention
- How ratings meet the objectives for which they are intended
- Best practices from companies that are evolving to a more agile performance management