कोशिश गोल्ड - मुक्त
General Electric's Unique Employee Rating System
The HR Digest
|October 2016
General Electric, founded by none other than the inventor Thomas Edison, is into its second century of existence.
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Not so long ago, it dumped the annual reviews for its workforce, ushering a dramatic change in the way performance is evaluated at the workplace. It’s selling off billion-dollar financing business that jeopardized it in the 2008 crisis and prompted a “too big to fail” designation. It’s in a general sense reforming to refocus on its industrial business. By the end of the transformation, its industrial businesses will provide more than 90 percent of earnings.
It’s made some expansive changes in its management style too, under current CEO Jeff Immelt. GE has to make substantial changes to its annual performance reviews simply because it doesn’t work for the younger workforce anymore. There’s a growing realization that the annual performance review isn’t a good way to manage the workforce or to boost performance. It’s a process which leads to a tendency for the HR to focus more on process over results.
The annual performance review has been loathed by the workforce in the corporate world for decades. Things are changing, it’s finally starting to fade.
यह कहानी The HR Digest के October 2016 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 9,500 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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