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What Performance Management Means to Millennials

What Performance Management Means to Millennials
From Recruiter - October 11, 2016

Now that a third of American workers are between the ages of 18 and 34, millennials make up the largest generation in the workforce,and their presence will only become stronger. Millennials are expected to account for nearly half of the workforce by 2020. As more and moremembers of this growing generation have joined the workforce, they have introduced new ideas about work and how it gets done, leaving many employers scrambling to address their needs.

How have millennials impacted the workplace? More so than any previous generation, they have demanded flexibility in where, when, and how much they work, ushering in more extensive telecommute and flexible scheduling policies. They are also more concerned with making an impact on the larger community than previous generations were, with many millennials valuing meaningful work over high salaries.

But perhaps one of the most significant changes spearheaded by millennials is the shift away from the annual performance review in favor of regular, ongoing feedback.

The Problem With Traditional Performance Management

The truth is that its not only millennials who are tired of the traditional performance review. In fact, employees of all generations are fed up with it. Its simply that millennials, who grew up with the Internet, may be better at voicing their opinions about the situation, given how comfortable they are with posting blogs and sharing on social media.

Furthermore,many companies are starting to find that managers malign traditional performance reviews just as much as their employees do.

The factis that the annual review process may be doing more harm than good in terms of developing, engaging, and retaining talent.

One of the main reasons why is that performance reviews typically classify people as exceeding expectations, meeting expectations, or not meeting expectations.According to Dr. David Rock of the NeuroLeadership Institute, being categorized triggersa fight-or-flight reaction in people, which in turn can interfere with the impact of the feedback being giveneven if it is positive.



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