A fundamental principle on which organizations are built is that, by working together, people can unlock synergy and accomplish more than they could alone. Continuous improvement through feedback creates a virtuous cycle that embodies this principle. In today’s fast paced competitive landscape, an organization’s talent and its people practices can be a source of sustainable competitive advantage. However, as the adage goes, Rome was not built in a day. Organizations must strive to build continuous improvement into their practices, their principles, and their very culture.
The core purpose of the performance appraisal process is to create organization-wide clarity and alignment. The organization’s goals are broken down into leaders’ goals, which are further cascaded across their teams. By achieving this clarity, teams understand their contributions towards achieving the organization’s vision and each person knows what they are expected to accomplish.
This story is from the october-november 2022 edition of Entrepreneur magazine.
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This story is from the october-november 2022 edition of Entrepreneur magazine.
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