Top 5 myths about performance management

In our global webinar series Reimagining HR, we shared insights based on conversations with 100+ senior people leaders on how the people function is evolving to address the challenges of rising geopolitical risks and a volatile, uncertain, complex, and ambiguous business environment. In this instalment of the series, we brought a data-driven lens to a powerful but oft-misunderstood strategic lever from the people function: Performance Management. In this session, people function/HR leaders heard from some of McKinsey’s leading People & Organizational Performance experts on why performance management has become critical to driving employee engagement in the face of post-pandemic volatility, and how to get it right – according to the data. We reviewed innovations and best practices from McKinsey’s 2023 global survey on performance management that meaningfully drive motivation, and discussed how to shape a tailored, cohesive performance management framework – including critical design choices.