Download - Crowdsource Your Performance Review
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THE CROWDSOURCED PERFORMANCE REVIEW
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TODAY’S SPEAKERS
ERIC MOSLEYCEO, GLOBOFORCE
CHARLIE UNGASHICKCMO, GLOBOFORCE
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INCREASE EMPLOYEE ENGAGEMENT
CREATE A SINGLE GLOBAL CULTURE
IMPROVE BUDGETING & COST AWARENESS
MANAGE AND RETAIN TOP TALENT
25% INCREASE
IN EMPLOYEE ENGAGEMENT
88% INCREASE
IN RECOGNITION SATISFACTION
97% OF EMPLOYEES PROUD TO WORK FOR THEM
13% INCREASE
IN EMPLOYEE RETENTION
GLOBOFORCE CLIENTSGET RESULTS
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PROVEN SUCCESSON A GLOBAL SCALE
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POLL QUESTION:
What’s the #1 challenge for HR this year?
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A. Employee engagement
B. Succession planning
C. Culture management
D. Employee retention/turnover
E. Performance management
F. Recruitment
G. Employee enablement
H. Employee satisfaction
I. Revenue per FTE
J. Productivity
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TRADITIONAL PERFORMANCE REVIEWS
INDUSTRY MEGA TRENDS
SOCIAL RECOGNITION
CROWDSOURCING
THE CROWDSOURCED PERFORMANCE REVIEW
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TRADITIONAL PERFORMANCE REVIEWS
INDUSTRY MEGA TRENDS
SOCIAL RECOGNITION
CROWDSOURCING
THE CROWDSOURCED PERFORMANCE REVIEW
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EMAIL GENERATION
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TWITTERGENERATION
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POSITIVITY DOMINATED WORKPLACE
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JIGME SINGYE WANGCHUCK
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Stay twice as long in their jobs
Spend double their time at work focused on what they are paid to do
Take ten times less sick leave
Believe they are achieving their potential twice as much
HAPPY WORKER WORK HARDER
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“PSYCAP”PSYCHOLOGICAL CAPITAL
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1. Be mindful of the present
2. Celebrate small successes
3. Play to our strengths
4. Recognize performance
5. Show gratitude
5 KEYS TO PSYCAP
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WOULD YOU WORK HARDER IF YOU FELT YOUR EFFORTS WOULD BE RECOGNIZED?
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WOULD WORK HARDER78% OF EMPLOYEES
Workforce Mood Tracker Survey, 2012
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Social Frequent Drives happiness
PERFORMANCE MANAGEMENT IN THE FUTURE
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TRADITIONAL PERFORMANCE REVIEWS
INDUSTRY MEGA TRENDS
SOCIAL RECOGNITION
CROWDSOURCING
THE CROWDSOURCED PERFORMANCE REVIEW
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POLL QUESTION:
Do employees trust the effectiveness of performance reviews?
A. Completely
B. Mostly
C. Barely
D. Not at all
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A PROCESS FROZEN IN TIME
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INFREQUENT FEEDBACK
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A SINGLE POINT OF FAILURE
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PERFORMANCE REVIEWS: THE OBJECT OF SCORN
@nicereminders: Feeling completely
dejected and destroyed after the
performance review I received from the central
office. #killmenow
@MeredithSoleau: There's no reason to keep bringing up the negative. I am 100%
anti-performance review. No one likes them. Not even HR.
#THRAC
@EmmaRWallace: Ahh, performance
review, you're killing me here!
@katiemuehe: Ooooh! A surprise
performance review at work on a Friday
afternoon?! Soundsgre-- no, it
sounds awful, actually.
#PleasePassTheWine
@luna624: I don't wanna do my performance
review self evaluation. Do. Not.
Want.
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REALITY
“Do you think the annual performance reviews are an accurate appraisal for employees’ work?”
Yes55%
No45%
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THE DREADED FORM
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SAME PROCESS.NEW TECHNOLOGY.
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HOW DO YOU FIX THE TRADITIONAL APPRAISAL PROCESS?
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TRADITIONAL PERFORMANCE REVIEWS
INDUSTRY MEGA TRENDS
SOCIAL RECOGNITION
CROWDSOURCING
THE CROWDSOURCED PERFORMANCE REVIEW
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POLL QUESTION:
When was the last time you received public recognition for a job well done?
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A. In the past week
B. In the past month
C. Three months ago
D. Six months ago
E. More than six months ago
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SOCIAL & STRATEGIC RECOGNITION
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• Employee & manager centric application
• Branded experience, heavily promoted throughout the organization
• Portfolio of strategic awards with approvals, budgets and governance
• Social Data and Analytics exposes
• Social map of company
• Top performers and influencers
• Culture and Values adoption
• HCM Performance alignment
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I think there are limitless things you can do when you start looking at what the wisdom of the crowds can tell you.
Joanna GeraghtyExecutive VP and Chief People Officer
RESULTS:88% Increase In Recognition Satisfaction
14,500 Crewmembers throughout the Americas
“
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Our Applause recognition program with Globoforce is fundamentally changing the way we're doing business at Symantec. This is the singular program that gets the most positive play from employees.
“
16% INCREASE IN ENGAGEMENTONE SYMANTEC CULTURE$6.2B global software company.
20,500 employees in 50 countries
Series of acquisitions doubled the company size, creating “culture of cultures”
Indentify top influencers across the company
Boost engagement to drive employee loyalty
THE CHALLENGE:
Tom AurelioVice President of Global HR
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Extrinsic Motivation Intrinsic
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WHICH REWARDS?
Badges
Great Job!
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WHICH REWARDS?
Pay Increases
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WHICH REWARDS?
On-the-Spot Recognition
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WHICH REWARDS?
Pay Rise Only On-the-Spot Recognition0%
5%
10%
ENGAGEMENT IMPACT
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VIRAL ADOPTION,GLOBALLY
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THE TIPPING POINT
STRATEGIC RECOGNITIONA PROVEN BEST PRACTICE
1 9 17 25 33 41 49 57 65 73 81 89 97 105 113 121 129 137 145 153 1610%
2%
4%
6%
8%
10%
12%
WEEKS
EMPL
OYE
E N
OM
INA
TIO
NS
Number of nominations as a % of headcount over weeks since launch.
Companies with most improved employee engagement scores have recognition programs with weekly nominations touching 5-8% of employees
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Social Frequent Drives happiness Global approach Rewards with value Shared throughout the company Viral adoption
PERFORMANCE MANAGEMENT IN THE FUTURE
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TRADITIONAL PERFORMANCE REVIEWS
INDUSTRY MEGA TRENDS
SOCIAL RECOGNITION
CROWDSOURCING
THE CROWDSOURCED PERFORMANCE REVIEW
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“To what extent do you trust the following forms of advertising?
Recommendations from people I know
Consumer opinions posted online 70% 30%
92% 8%
Trust Completely/Somewhat
Don’t Trust Much/At All
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We find that expert ratings are correlated with Amazon ratings….experts and consumers agree in aggregate about the quality of a book.
EXPERT AND CONSUMER ALIGNMENT PROVES GREATER ACCURACY
“ “
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EVERY DAY IMPACT OF CROWDSOURCED REVIEWS
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WISDOM OF THE CROWDS & HR
Wisdom of the Crowds
Big data, in the form of social recognition.
What WE think.
Manager’s OpinionTraditional performance review.
What OUR MANAGER thinks.
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FIX PERFORMANCE REVIEWS WITH THE WISDOM OF CROWDS
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TRADITIONAL PERFORMANCE REVIEWS
INDUSTRY MEGA TRENDS
SOCIAL RECOGNITION
CROWDSOURCING
THE CROWDSOURCED PERFORMANCE REVIEW
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Crowdsourcing input about employee performance creates a market composed of every employee, and social recognition is the transaction engine of that market.
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TRUE INFLUENCERS CAN BE FOUND INSTANTLY
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COMBINING REVIEWS
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INSIGHT FOR C-SUITE
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Jim HolincheckManaging Vice President
“ “Budget will shift from annual merit increases to bottom-up, more frequent rewards…parts of
traditional talent management activities effectively become crowdsourced.
2012 Strategic Roadmap for Employee Performance Management
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NETWORK OF NETWORKS
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Social Frequent Drives happiness Global approach Rewards with value Shared throughout the company Viral adoption Part of compensation strategy Based on data New insight for managers & execs
PERFORMANCE MANAGEMENT IN THE FUTURE
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GET THE BOOK
57
crowdsourcedreviews.com