Employee Performance - Characteristics & Metrics
Three employee evaluation methods used by some of the largest companies include frequent reviews, software-powered review systems, and a 360-degree feedback or review system. Some companies using these methods and systems include McKinsey, Accenture and Suzuki motors.
- This kind of review system covers measuring recent performance events.
- This method is a primary evaluation used by McKinsey.
SOFTWARE-POWERED REVIEW SYSTEMS
- Some companies use software-powered review systems to measure performance.
- These systems facilitate reviews from more than one point of view, as single-review results are usually considered bias.
- According to Accenture, employees should be reviewed by their managers and other employees in the organization. Accenture employs this evaluation method.
360-DEGREE FEEDBACK AND REVIEW SYSTEM
- 360-degree feedback or review system operates by evaluating every aspect of each employee's interaction as they perform their duties.
- This system is considered better than rating systems because it is more efficient and accurate.
- The 360-degree feedback system is used to discover any untapped potential in employees since it measures every aspect of their interaction within the organization.
- Maruti Suzuki Motors uses this evaluation method, as it evaluates a full range of skills.
OTHER USEFUL PIECES OF INFORMATION
- McKinsey considers fairness as a critical point in employee performance evaluation and management.
- Most firms focus on improving employee performance via employee performance management programs, which result in better employee performance.
- Employees with high performance usually have more than ten years of service, talent, and high levels of engagement. These are possible metrics to measure performance.
Research obtained a clear definition of creative agencies and strategic consulting firms from which we were able to pinpoint the Boston Consult Group, McKinsey, and Bain as being among the key players in the consulting industry. Also, Pentagram New York (design), Gensler (architecture) and DJI (photography) are among the top creative firms.