Every company is interested in improving performance management. But too often, organizations set ambitious performance management goals, while continuing to rely on traditional employee review and goal-setting strategies.
Project-based collaboration is the norm in today’s workplace – employees now work across teams, departments and locations. The problem with traditional reviews is that they rely on a single person (the employee’s manager) to assess work when in fact, the people most qualified to evaluate performance and provide feedback are the employee’s peers.
Why P2P Feedback Is Essential for Improving Performance Management
The transition from annual performance reviews to more frequent check-ins between managers and employees is an important step toward improving performance management. But frequent check-ins are even more successful when peer-to-peer (P2P) employee feedback enters the picture.
A recent HighGround performance management study, “Beyond the Annual Review: The Transformative State of Performance Conversations,” showed that P2P feedback improves performance management in several important ways:
- P2P feedback reduces anxiety about performance conversations.Employees are often nervous about traditional reviews, especially if reviews are solely focused on evaluating past performance. P2P feedback helps reduce employee anxiety and create a more collegial tone for check-in conversations. Our study found that 36 percent of employees at companies that don’t have P2P feedback report anxiety about performance conversations, while only 18 percent of employees at companies with P2P feedback indicate nervous feelings leading up to check-ins with managers.
- Employees prefer P2P feedback because it helps them do their jobs better. Most employees view P2P feedback as a helpful part of check-in routines. In companies that use P2P feedback to improve performance management, 52 percent of employee strongly believe that check-ins provide helpful feedback, compared to just 25 percent of employees in companies that don’t have P2P feedback. Employees also believe that P2P feedback improves their performance. More than half (52%) of employees that receive feedback from their peers indicate that performance check-ins help them do better work, while only 19 percent of employees that don’t receive peer recognition or feedback are convinced that check-ins improve their work.
- Managers understand the importance of P2P feedback in improving performance management. Employees aren’t the only ones who appreciate the value of peer feedback. Managers believe that P2P feedback plays a role in helping them manage their employees’ development and improving the quality of their employees’ work. In companies with P2P feedback, 72 percent of managers indicate that check-ins improve their ability to manage employee development, compared to 60 percent in companies without peer feedback. Similarly, 58 percent of managers in companies with P2P feedback agree that check-ins result in better work, more than the 45 percent of managers in companies without peer feedback.
HighGround: A Trusted Partner in Improving Performance Management
By empowering your organization to capture real-time peer feedback, HighGround’s innovative HR cloud platform improves performance management and supports a continuous feedback approach with P2P feedback built into the process.
For additional information, contact us today and learn how HighGround can help your organization do more with performance management.