Performance Management - Deloitte

Julie B.

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Performance Management - Deloitte

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Deloitte, 360 review, performance evaluation, audit, insurance, consulting, financial advisory, risk advisory, tax, performance management

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Abstract

Deloitte is a multinational company, specialized in audit & assurance, consulting, financial advisory, risk advisory and tax. It is a UK private company, one of the fourth most important in the sector. It counts 244,000 employees worldwide and has a revenue of 1,275 billion euros.
Deloitte Company is very invested in human capitalization, and has been conducting research per region since 2012. It tends to explore the past trends to have an overview of what could be emerging in the following years. One of their discovery concerns employee performance assessment, on which they are currently transitioning. Their research is based on surveys filled employees, among other means. They experience a very profound reflective assessment of their own system.

Analysis of the Two Performance Assessment Tools Used by Deloitte
1. The Old Model: 360-Feedback
2. New Model: a Real-Time Performance Management
Management Recommendations

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[...] Overall, it improves the credibility of the performance appraisal. What's more, it is a tool that employees appreciate, because they like the predictability of the process: it is a once-a-year appraisal, which often comes at the same time of the year, with the compensation review process, and employees are prepared for this feedback. Some consensus meetings are also organized, and they can have a representative. It also focuses on core competencies, and not only on the behavioural or the quantitative results. [...]

[...] Performance Management - Deloitte Deloitte is a multinational company, specialized in audit & insurance, consulting, financial advisory, risk advisory and tax. It is a UK private company, one of the fourth most important in the sector. It counts 244,000 employees worldwide and has a revenue of 1,275 billion euros. Deloitte Company is very invested in human capitalization, and has been conducting research per region since 2012. It tends to explore the past trends to have an overview of what could be emerging in the following years. [...]

[...] As we saw, this new model is more future-oriented, and based on environment- applied skills. Motivation and involvement are two features which are essential to maintain a good employee to focus on its tasks, and to be receptive to feedback for improvement. This is the aim of this new model: see what's next based on current performance. It is likely to benefit employee development, because it strengthens the importance of development plans, and does not only feel like pure evaluation. [...]

[...] Business.com 13 April 2015. https://www.business.com/articles/reinventing-performance- management-a-deloitte-case-study/. Shawkat, Jahan. n.d. ‘Advantages & Disadvantages of 360 Degree Appraisal'. Human Resource Management. Accessed 18 October 2019. https://hrmpractice.com/advantages-disadvantages-360-degree-appraisal/. [...]

[...] Another drawback could be that everyday can feel like an evaluation, as the immediate feedback is following at the end of the week, and that could feel too much and lower motivation. What's more, there is only one person evaluating, which might not be enough to draw the whole picture. II. Management Recommendations Both theories explained have their own objectives and specificities, but we may want to take the best of them both, to improve the performance evaluation process. Firstly, one evaluator is not enough to draw a whole picture. We saw that 360-feedback takes a lot of time, but is more accurate. [...]

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