Case Study: Performance Management Improvements for Bristol-Myers Squibb
Bristol-Myers Squibb (BMS) is one of the world’s largest pharmaceutical firms and is widely known for its innovative research. But the firm has not limited its innovations to products. Several years ago, BMS leaders decided that the company’s performance management system needed to be re-invented. Specifically, they determined that the existing performance appraisal process was not working. Managers were “form focused,” meaning that they were so concentrated on filling out the performance review forms, the content of the forms was not being used for employee coaching and based on development. Also, most of
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