Is it time to rethink old performance review processes? | Survey highlights exodus of top talent from banks | 3 characteristics of high-potential employees
Traditional performance review processes are designed both to assess employees' past work and "provide a feedback mechanism to drive more performance," writes Amy Leschke-Kahle of Marcus Buckingham Co. These are two different goals that should involve distinct processes, Leschke-Kahle writes.
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A survey of Wall Street institutions, foreign-owned banks and larger regional lenders by consulting firm Sheffield Haworth finds more senior executives quit their jobs in 2021 than at any time in the previous 10 years, despite an overall rise in compensation packages. The report suggests that executives are moving to smaller lenders, or leaving the banking sector entirely, as they prioritize flexibility.
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Psychological safety is essential when creating a happy, fulfilled and productive workforce, writes Lisa Crowe. Leaders can take five steps to create a psychologically safe culture, including acknowledging their own mistakes, picking up on nonverbal cues and fostering respectful debate.
An analysis by health data firm Springbuk shows that in the six months following a COVID-19 diagnosis, hospitalized patients cost their employers an average of $34,851 more than they normally would have. The company's lead clinical scientist, Dr. Janet Young, writes that employers can prepare themselves by learning about emerging treatments and examining whether they need to pass along more costs to staff members.
Instead of putting the onus on women to reject "nonpromotable work," companies must revise policies and bring more awareness to the problem, says Lise Vesterlund, the Andrew W. Mellon Professor of Economics at the University of Pittsburgh. "If you put all of the different assignments in a continuum ranking from the most likely to help you get noticed and advanced to the least likely, [organizations] have been shocked to see how much of the least-promotable work has been assigned to women," Vesterlund says.
I had dinner with friends Saturday night. One of the guys – I’ll call him D – wanted everyone at the table to engage. So, he collected everyone’s phones, stacked them together and said, “First person to pick up their phone picks up the tab.” We all laughed but left those phones alone. And we had a terrific conversation.
Later that night, I met up with another friend to do a quick catch-up. Unlike D and my other group, this friend kept checking his phone and texting. It was rude, but I don’t think he realized that. We chatted for a few minutes more, then I politely excused myself and left.
Today’s Training Magazine story talks about the importance of attentiveness in creating a psychologically safe workplace. Do your team members know they have your attention when they're talking to you? Are you looking at them or are your eyes dancing between them, your phone and your laptop? I've discovered that those things matter to people. Your attention conveys to others that they matter -- or that they don't.
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