General Motors Implements New Performance Ratings System to Enhance Employee Accountability
Thursday, 1 August 2024, 19:33
Introduction
General Motors (GM) is making significant changes to its employee performance evaluation system.
New Ratings System Overview
- Designed to reward high-performers disproportionately.
- Encourages low-performers to improve or leave the company.
- Aims to attract and retain the necessary talent for achieving ambitious goals.
Industry Context
- Legacy automakers like GM and Ford are reassessing their performance evaluation systems.
- This change comes as competition rises from electric vehicle companies such as Tesla and Rivian.
- The goal is to align compensation strategies with modern market standards.
Conclusion
With the new ratings system, GM aims to create a culture of accountability and excellence, ensuring the company can compete effectively in the rapidly evolving automotive market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.