General Motors Announces New Employee Performance Evaluation and Reward System

TapTechNews August 4th news, General Motors (GM) announced a new employee performance evaluation and reward system, aiming to motivate outstanding employees and eliminate those with poor performance. According to the internal memo, GM will give up to 150% of the bonus to the top 5% of the most outstanding employees to attract and retain talents. This measure also puts greater pressure on employees with poor performance, either to improve performance or leave.

As TapTechNews understands, the new system divides employee performance into five levels, from significantly exceeding expectations to not meeting expectations, and the employee's bonus will depend on their performance level. While in the previous performance system, employees were divided into three levels of partially meeting expectations, meeting expectations, and exceeding expectations.

GM stated in the memo that in order to achieve the company's ambitious goals, a more clear performance standard and accountability system is needed. The company hopes to build a high-performance workforce.

It is worth noting that Ford Motor Company has also implemented a similar performance management system. Ford CEO Jim Farley said that this is an important step in the company's business reform.