The best-practice of performance evaluations for individuals in the workplace is currently going through critical structural changes. Many blue-chip organisations have started to abolish the traditional annual performance review process. Adobe was one of the first companies to let go of an annual performance review process in favor of fluid, more frequent performance discussions that are focused on the delivery of specific tasks. Many more companies (i.e. Deloitte and Accenture) have adopted similar approaches.
It has been well documented in the Deloitte Performance Management Study that current performance evaluation processes are not adding enough value, with just 8% companies reporting to get value from their current annual-focused performance reviews. 58% of the respondents agreed that the evaluations are not a very effective use of time.
As I’ve personally been subject to many of these reviews during my corporate career, I can agree with above-mentioned findings. Looking back, I remember that it often felt that most of the goals agreed to track at the beginning of the year were no longer relevant at the time of the annual evaluation. Even if “best-practice” has always been to conduct at least one mid-year discussion to check if everyone’s on track, you generally couldn’t change anything in your Personal Development Plan as the goals were already set and tracked.
The question that we’ll look a bit deeper into is “How does this link to best-in-class approaches to agency evaluation”?
There are actually many similarities between evaluations of your employees and your agencies. You want to ensure you have an evaluation process that is fit for purpose by being ongoing and timely, robust and relevant to your business and to your commercial relationship with an agency:
At Decideware Advisory, we can help to assess the maturity of agency evaluation processes and then further optimise it to be relevant to your business and to ensure it delivers value to you and to your agencies.
Decideware Advisory was created to help advertisers to optimise their approaches to the management of their Marketing Agencies as well as to improve upon their internal capabilities in areas of Agency Management.
We’re here to provide advisory services focused on finding the best solutions to your specific business issues and enabling you achieving world-class capabilities.
Although Decideware Advisory is new to the market, we already work with world’s top advertisers as well as cooperate on thought leadership courses and material development with leading industry bodies.
Decideware Advisory is a subsidiary of Decideware Development Pty Ltd, global leader in the provision of Agency Lifecycle Management SaaS platforms.
To learn more about Decideware Advisory, please contact Vladimir Komanicky at email@example.com.