Importance of a recognition culture

“Research found that companies with an excellent recognition culture had a 31% lower voluntary turnover, yet only 17% say their organizational recognition culture is extremely supportive.”

-Josh Betsin

10 Ways to Make Your Performance Management Healthier: Webinar Recap

https://blog.betterworks.com/10-ways-to-make-your-performance-management-healthier-webinar-recap/

Effectiveness of Performance Management

"Only 12% of executives at the 3,000 companies surveyed in Deloitte’s recent Human Capital Trends report say their current performance management efforts are worth the time they’re putting into them.”

Josh Bersin

10 Ways to Make Your Performance Management Healthier: Webinar Recap (https://blog.betterworks.com/10-ways-to-make-your-performance-management-healthier-webinar-recap/)

High level of talent management

19% of surveyed organizations have a relatively clear, data-based talent strategy, as well as a leadership strategy and associated development opporutnities that are well-aligned to the organization's strategic objectives.

Bersin Research, "High-Impact Talent Management: The New Talent Management Maturity Model."

Performance management is broken

58% of executives surveyed believe their current performance process does not drive employee engagement and high performance.

and

58% of executives surveyed believe their current performance is not an effective use of anyone's time.

Deloitte University Press. Performance Management is Broken

http://dupress.com/articles/hc-trends-2014-performance-management/