Facebook’s Performance management practices

   




Facebook’s Performance management practices

  “We believe in the potential of the people when they can come together”.



Introduction:  In 2004, a group of friends at college created an innovative new social media platform with the aim of connecting Harvard students through an online community.
14 years later, Facebook is one the most influential social networks in the world, boasting approximately 2.2 billion monthly users.  It all began in 2003, when Facebook founder and CEO Mark Zuckerberg created an online programme called “Facemash”, which allowed users to objectify fellow students by comparing photos of their faces and selecting who they deemed as “hotter”. While Zuckerberg faced punishment from the Harvard administration and narrowly escaped expulsion from the college altogether for his actions, “Facemash” provided the framework for what was to become Facebook.

Performance Evaluation:
Facebook’s performance management system is different when compared to other global 500 companies. It has always set apart it standards . It is standing firm by conducting biannual 360 reviews. The company also facilitates a continuous stream of real-time feedback, allowing employees across the globe to give and receive feedback. A online application gives employees the ability to constantly give and receive feedback. The formal review then uses the results of these  frequently occurring feedback interactions. Whether the feedback is positive or negative, the purpose of the conversation is to understand the employee's motivations and growth opportunities.
                
                    



Peer reviews and feedback are also been taken up which builds up competitive and hostile work environment. The happiest thing about this peer reviews are that employees exchange feedback with complete cordiality and civility. 

                                          


Process:
  • Firstly, the company has its access to internal software that enables real-time feedback among co-workers, while management uses the software to keep track of project progress and provide general support.
  •    Later, feedback is collected from three to five close colleagues called as “peer reviews”.
  •  Managers use all these data and conduct performance evaluation.



what are the core values?

The company promotes 3 main core values in conducting performance appraisal:
1.     Fairness:  A fair process exists when evaluators are credible and motivated to get it right, and employees have a voice..
2.     Transparent: Employees want to know where they stand, and performance evaluations offer transparency. They help employees understand how their contributions are seen in the organization, and they make it easier for the organization to effectively recognize and reward top performance.
3.     Development: Employees learn what their key strengths are and where they should focus their development efforts.


Thereby we can conclude that, performance evaluations are never a perfect system and can often lead to flaws . But, its better than not having any reviews at all. Continuous evaluation of an employee not only develops themselves but also the overall performance of the company.

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