5 components of the new performance review

1. Performance standards replace the rating scale by giving a broad overview of employee
behaviors expected. “It embodies every aspect of our new approach—having a growth
mindset; delivering and learning from feedback; and just having regular, open and honest
conversations. It puts the focus as much on the ‘how’ you have achieved your goals as on
the ‘what’ you have done,” says Ollander-Krane.

2. Goals focus on outcomes rather than tasks, with a maximum of eight to ensure employees
focus on a smaller number of important objectives. “Driving performance is not about
ticking off all the things you have on your ‘to do’ list; it’s about thinking about how the world
will be different if you achieve them all,” says Ollander-Krane.

3. Touch points replace the single annual review meeting with 12 informal discussions.
Taking place anywhere and at any time, they focus on three questions: What went well?
Where did you get stuck? What would you do differently next time?

4. Rewards have been revolutionized. With no ratings or forced distribution curves,

managers have been forced to rethink how they allocate merit and bonus payments. “It’s a
much simpler exercise, and more similar to the way we expect our managers to manage our
products. If a product does well, you reinvest in it, and the concept here is the same—you
give more money to the person who is delivering the best results,” says Ollander-Krane.

5. Learning includes several modules developed to provide help and support with the new
process, from feedback conversations to how to allocate bonuses.