Kill Performance Reviews and Establish 90-Day Career Portfolio Reviews

Revamping the traditional performance review process is not just a shift in strategy, but a transformation in the corporate ethos. In an era where agility and adaptability are paramount, the traditional annual performance review seems as antiquated as a dial-up internet connection in the age of high-speed broadband.

It’s time for a seismic shift in how we assess, motivate, and develop talent within our organizations. Let’s explore why the 90-Day Career Portfolio Review, presented through a compelling portfolio metaphor often utilized by astute money managers who constantly are focused on ROI (Return on Investment), is the innovation Chief Talent Officers (CTO) and Chief Learning Officers (CLO) have been searching for. In fact, today, CTO’s and CLO’s can call it ROT – Return on Talent.

Reimagining Performance Assessments: The Investment Portfolio Approach

Just as a prudent investment manager evaluates and adjusts a portfolio quarterly to optimize returns, organizations stand to gain by adopting a similar approach to talent development. Imagine, if you will, a career development strategy that mirrors the strategic rebalancing of a well-managed investment portfolio. This tactic doesn’t merely assess performance against static benchmarks, it engages employees in a dynamic dialogue about their career trajectory, aspirations, and the skills they wish to develop.

This new policy reflects a dynamic investment in human capital, acknowledging that the value of assets—our employees—fluctuates and requires attentive management to maximize growth and performance.

The Case for Change

It’s a scientific fact that the blood cells in our body change every day. According to Scientific America, in 80 to 100 days, 30 trillion will have replenished—the equivalent of a new you. This natural rhythm underscores the potential for transformation within us all—a principle that can extend to our professional lives.

The multinational professional services company Accenture announced in Washington Post that they are getting rid of performance reviews and rankings. They are not alone in believing that it’s time for a change. According to Deloitte, “Only 8% of companies in our survey report their performance management process drives high levels of value, while 58% say it is not an effective use of time.”

Introducing the 90-Day Career Portfolio Review

The 90-Day Career Portfolio Review acts as a catalyst for growth, innovation, and alignment, ensuring that both individuals and organizations can navigate the complexities of the modern workplace with confidence and purpose. This paradigm shift is a move towards a more dynamic, reflective, and personalized performance review process is not just a trend but a strategic imperative.

It’s a holistic assessment that looks back at the achievements of the last quarter, evaluates current positioning, and plans for future growth, all within the framework of the organization’s strategic goals.

ROT for Employees: For the individual, this 90-day cycle offers a focused period to set and achieve tangible goals, reflect on accomplishments, and recalibrate for the coming quarter. It transforms the review process from a dreaded examination into an opportunity for personal and professional growth, offering a platform to address uncertainties and align personal ambitions with organizational needs in shorter cycles. Remember 80-100 days brings a new you.

ROT for Managers: For leaders, this system offers clarity and direction, enabling them to foster talent effectively, align employee efforts with broader objectives, and cultivate a culture of continuous improvement. It shifts the focus from managing performance to developing potential, building a foundation of mutual trust and respect.

Creating Brilliance and Resilience

In Simon T. Bailey International’s national study, State of Working America Report – Thriving in Resilience and Brilliance, working Americans revealed that when they feel confident in their brilliance, 84% are likely to develop their knowledge, skills or expertise in their current job! That is over eight out of ten people in the U.S. workforce who say that they are more likely to increase the exact thing that makes them even more valuable to their employees.

This shift to a portfolio management approach in talent development not only revitalizes the employee-manager relationship but also aligns with the strategic agility required in today’s fast-paced business environment. By adopting the 90-Day Career Portfolio Review, organizations can foster a culture where continuous growth, adaptability, and personal development are not just encouraged, they are ingrained in the corporate ethos, promising not just a more engaged and motivated workforce, but a resilient, future-ready organization poised for success.

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Simon T. Bailey is the world’s leading expert in Brilliance. His groundbreaking research, State of Working America Report Thriving in Resilience and Brilliance, solidifies his insights in his 11th book, Resilience@Work: How to Coach Yourself Into a Thriving Future. With Disney Institute as his launchpad, he’s left an indelible mark on 2,400 plus organizations in 54 countries, including American Express, Deloitte, Visa, Signet Jewelers, and Taco Bell. He has made a remarkable impact on 120,000 professionals who’ve experienced his pioneering courses on the LinkedIn Learning platform. He’s also been recognized as Success Magazine’s Top 25, alongside Brené Brown, Tony Robbins, and Oprah Winfrey, as well as being on leadersHum Top 200 Power List. His viral video, released on Goalcast through META, has over 91 million plus views to date. Learn more at simontbailey.com.