In 2014, global fashion business Gap Inc. launched a new performance management process – Grow. Perform. Succeed. (GPS) – for its headquarters' employees worldwide. It’s now in the process of developing a slightly modified version for its retail store and distribution centre staff. Gone are the formal reviews and performance ratings of the past – instead, managers and employees are encouraged to have 12 informal, undocumented conversations about performance over the course of the year.
Gap Inc. believes that GPS has 'repurposed thousands of working hours and millions of dollars from tasks that did not drive performance to discussions that do'. What’s more, staff surveys suggest employees feel that the new process is providing them with better feedback, offering more opportunities to learn and driving them to higher levels of performance.
Researched and written by E-reward.co.uk