Punishment or Development: What is the purpose of Today’s Performance Management Processes?

Over the last few years, a growing phenomenon in performance management (PM) throughout premier companies such as Adobe, General Electric, and JP Morgan Chase has been exchanging the traditional annual performance review for a system of ongoing development discussions. Why has this phenomenon begun? Is this a fad? Research indicates new approaches of PM are here to stay. Due to today’s changing workforce expectations and technological capabilities, some organizations are changing their cultural paradigm from a competitive, command and control management style to a more innovative and collaborative developmental management style.