Conventional methods of performance management followed the bell curve or the relative ranking of employees. This resulted in counterproductive outcomes such as stress and disengagement. In recent years, a paradigm shift has occurred in performance management practices. This article describes a new performance management system, currently being practised in multinational companies including Deloitte LLP, a Big Four accounting and consulting firm. The model, with such features as touch points and regular coaching discussions, aims at providing feedback at regular intervals and implementing course correction activities, if necessary, more immediately and frequently. The model and the expected outcomes are discussed in detail.
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