"Hello and welcome to Modern CEO! I'm Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday morning."
"Performance assessment matters: Research from McKinsey & Co. maintains that companies with a focus on employee performance see 30% higher revenue growth and lower attrition rates than their peers. In the past, though, top executives seemed to care mostly about the results of employee reviews: GE chief Jack Welch, for example, famously used performance appraisals to rank employees and fired those scoring in the bottom 10%."
"Dan Springer, CEO of Ironclad, makes the case that CEOs who care about culture should also dig into the quality of employee reviews. When he joined the 650+-person AI contract-management-software company, employees praised the culture but, he says, indicated that manager evaluation of their work was often lacking. "When you asked if they were getting the kind of feedback that they needed to do their jobs, they didn't say 'no,' but they were sort of bemused by the question," he recalls."
Modern CEO greets readers and offers a weekly newsletter exploring inclusive leadership approaches and a link to sign up for weekly delivery. Research from McKinsey & Co. finds companies focused on employee performance achieve about 30% higher revenue growth and lower attrition. Historically some executives prioritized review outcomes, exemplified by Jack Welch's forced rankings and firing of the bottom 10%. Dan Springer at Ironclad prioritized review quality after hearing managers' evaluations were often lacking. Springer role-played reviews with his CFO and audited about 80 midyear manager reviews: roughly 20% outstanding, 60% solid and metrics-driven, and about 20% that missed the mark, with some long narratives that showed care but lacked actionable specifics.
Read at Fast Company
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