How AI-driven Performance Feedback Can Make You a Better Manager
Performance feedback and appraisals are a regular part of any workplace. But too often, organizations rely on annual or biannual performance feedback cycles that fail to capture the full picture of an employee’s potential.
There’s also the risk of bias creeping in as an individual manager is responsible for their team’s performance reviews, and might show favoritism towards an employee. This is why it so important to deploy a data-driven culture where tools such as artificial intelligence (AI) can supplement human opinion when garnering performance feedback. Leading organizations such as IBM have already implemented AI-led performance feedback mechanisms with exceptional results.
With talent pipelines becoming complex (shortage of highly skilled workers, reducing employee loyalty, and a competitive hiring landscape), it is important to do what you can to retain employees. Among the many employee retention strategies is delivering effective and regular performance feedback.
In this area, AI can help accurately assess performance and equip managers with the right feedback. Let’s delve deeper into how this happens.
Learn More: Why Adopt a 360 Degree Feedback?
Why It’s Time for AI Intervention in Performance Feedback
Employee performance could change from month to month and across projects, depending on work scenarios, demand volumes, personal motivators, and other factors.
But the traditional feedback and appraisal cycle is still stuck in a legacy era. Mercer’s 2019 Global Performance Management Study found that just 2% of companies feel their performance management approach delivers value!
Given that 70% of companies need to align performance management with other talent decisions, AI and data analytics can create a unified source of truth for managers to extract valuable insights.
Traditionally, managers rely on employees’ self-assessments, peer reviews, and their proven business outcomes to perform appraisals. Inevitably, their perspective of employee potential and their career progression possibilities within the company can also affect feedback.