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Ditching Performance Appraisals: How To Rethink Compensation Plan Design As Performance Reviews Fall By The Wayside

Webinar: ID# 1023434
Recorded On-Demand
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About This Course:
When big companies make the move away from the traditional annual or semi-annual performance review, it makes news. GE, Adobe, and Cigna have all shifted from the old rating systems and moved to different approaches in reviewing employee performance. And small companies are also ditching the old way of appraising employees.

There are good reasons for this trend. While some consider the ratings system to be the standard for compensation decisions, others believe compensation drives the ratings, which can seem arbitrary at best (why did one employee get a 4 instead of a 5 on a certain metric?)

This shift in performance management prompts many important questions HR and compensation professionals must address, such as:
  • How does doing away with the traditional performance appraisal work with your compensation program?
  • How can you know whether to give a raise or bonus without the metrics to back up the reward?
Join us to learn how nixing performance appraisals will impact your compensation program.

Global certified compensation consultant Sam Reeve will offer insights and valuable tips to help you navigate these somewhat uncharted seas. He will explain what to consider when shifting from traditional, annual performance reviews and bonuses to different and more effective strategies for enhancing employee performance.

Learning Objectives:
  • Why traditional rating systems and annual reviews are problematic
  • The dread inspired by the annual review—in employees, supervisors, and HR as well
  • How compensation drives ratings
  • What should take place if you nix traditional performance reviews
  • How to track performance with consistent feedback and communication
  • How to evaluate performance based on a number of factors
  • How to shift from annual increases and performance-based bonuses
  • And much more!
About Your Presenter

Sam Reeve, CCP, GRP
Executive Vice President
Performensation

Sam Reeve is a global certified compensation consultant (CCP, GRP) with 15 years of experience in Total Reward Strategies. He is an expert in broad-based compensation and focuses his talents on enhancing performance through the effective use of incentive and recognition programs. Mr. Reeve has experience and expertise in a variety of compensation projects, including: job analysis, market intelligence, performance reviews, base compensation, variable compensation, long term compensation, sales compensation, and training and communication. Prior to joining the firm, he worked in the corporate compensation functions of such notable firms as BlackRock, McKesson, and Automatic Data Processing (ADP). Mr. Reeve has a degree in Finance and Economics from California State University, Sacramento.
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Ditching Performance Appraisals: How To Rethink Compensation Plan Design As Performance Reviews Fall By The Wayside
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