Reinventing Performance Management

The current way of performance review apparently says more about the reviewer than the reviewed and takes a lot of time – 2 million hours annually at Deloitte.

Objective as I may try to be in evaluating you on, say, strategic thinking, it turns out that how much strategic thinking I do, or how valuable I think strategic thinking is, or how tough a rater I am significantly affects my assessment of your strategic thinking.

It was time for Deloitte to redesign its performance management, realize process improvement and a better outcome. It was brought back to four questions:

  • Given what I know of this person’s performance, and if it were my money, I would award this person the highest possible compensation increase and bonus \[measures overall performance and unique value to the organization on a five-point scale from “strongly agree” to “strongly disagree”].
  • Given what I know of this person’s performance, I would always want him or her on my team \[measures ability to work well with others on the same five-point scale].
  • This person is at risk for low performance \[identifies problems that might harm the customer or the team on a yes-or-no basis].
    This person is ready for promotion today \[measures potential on a yes-or-no basis]

From Harvard Business Reviews

The above could also be used to measure the performance of the tax function and whether the right skill set from a teaming perspective is available on the long run.

Read more in

About Richard Cornelisse

I advise multinational businesses in improving the efficiency and effectiveness of their Indirect Tax Function and Tax Control Framework. I started my career as a manager at Arthur Andersen and then became a partner in EY where I led the indirect tax performance team for Netherlands and Belgium. Currently I am a senior managing director of Phenix Consulting. I have over 20 years’ experience advising clients on international VAT issues. I am specialized in the tax aspects of financial transformations, shared service centre migration, and post merger integration work. I am also somewhat of a mentor, giving back to the profession. If you are interested in conversation and discussion, please feel free to contact me.
This entry was posted in SAP enhancement point. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s