A consistent practice among many companies, annual reviews can be dreadful, inconsistent and meaningless for both the employer and employee. More than three-quarters (77%) of organizations conduct annual performance reviews, according to the Society for Human Resource Management/Globoforce Survey: Employee Recognition Programs. But when was the last time you updated yours?
To start, consider switching up the time of year annual reviews are performed. Many tend to fall during project-heavy or holiday seasons when work is hectic and minds are scrambled. Ask the employee when is best for them given their workload and consider more frequent communication between reviews.
Paul Falcone describes three components of the performance review cycle in his book 2600 Phrases for Effective Performance Review: Goal setting and planning, ongoing feedback and coaching, and appraisal and reward. Ensure the meeting is a collaborative effort that is employee-focused by allowing the employee to review their own work—and even the employers—before giving feedback.
To ensure annual performance reviews are most effective, HRinMotion, LLC helps your company establish metrics to ensure reviewers are equipped with timely and constructive feedback. Keeping tabs on good and bad performances year-round—instead of scrambling to compile a few examples the day before the review—allows for a consistent evaluation and productive conversation.
But when it comes down to it, an annual performance review needs practical insight and post-meeting action steps. During the meeting, provide motivating, yet actionable items that the employee can implement in their daily work and set both short- and long-term goals. Give employees tools and resources that are clearly directed toward their weakness and follow-up on a consistent basis.
Annual performance reviews processes should be updated on a regular basis. Allow HRinMotion, LLC to help yours reach its full potential.