Details

 Details

Dana Freeman, VP of Product Management, Salary.com


The performance review process is often viewed as an annual headache that managers and employees alike can't wade through fast enough. But as a pay-for-performance culture permeates the business world, companies find automated systems help make performance reviews an ongoing process that increases employee and manager involvement and drives greater business results.

This Salary.com Insight examines the following five points that underscore the value of performance reviews and provides ROI tips for each.

• Improving the operational efficiency and reducing the cost to complete the performance review process through automation.

• Providing structure and consistency to the process along with online tools that help managers develop and retain talent.

• Improving the retention rate for top performers and decreasing the time to full productivity.

• Managing low performers out of the organization efficiently while mitigating the risk of wrongful termination lawsuits.

• Implementing a pay-for-performance culture.

Download Quantifying the Value of Performance Reviews