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It’s Time To Reinvent Your Performance Reviews Here Are 3 Best Practices



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Annual and bi-annual performance reviews have been considered ineffective at improving employee performance. According to Gallup, “only 14% of employees agree that their performance reviews inspire them to improve” demonstrating that they do more harm than good. Not only do they cost organizations money in lost working hours, but there’s little to show for it. In fact, performance reviews have become something employees dread because it focuses exclusively on past mistakes, behaviors, and results. Not only is this demotivating and disempowering, but it harms an employee’s overall productivity because their past mistakes are still being held against them. In some instances, the performance review is the first time an employee is made aware of mistakes they’ve made. For this reason, it’s time to shift performance reviews away from an antiquated once-a-year conversation. Instead, companies should focus on having more frequent and quality conversations with continuous feedback. By giving real-time feedback, providing coaching, and helping employees to correct their mistakes, issues can be resolved more quickly and effectively. Here are three ways companies can reinvent their performance reviews. Coaching and goal-setting is a key responsibility for any manager. Setting clear, measurable, and attainable performance goals gives employees a target to work toward. As such, they’re far more engaged and motivated since they know what they’re working toward and what’s expected of them. To start, managers and employees should work together to set both short-term and long-term goals. Michelle Enjoli, TEDx Speaker and Career Development Coach, said, “when performance goals have been mutually agreed upon by a leader and employee, a routine check-up of these goals should be scheduled at a minimum of once a month to ensure that there’s room for realignment, improvements, or a pivot.”Managers should create a document that’s shared with the employee to track progress, and ensure they’re aligned with goals and expectations. This easily accessible and shared document will help capture action steps, drive one-on-ones, specify goals, deadlines, metrics, and anything that’s discussed during one-on-one meetings. Additionally, managers can see where an employee needs support, where they’re struggling, what their strengths are, and whether or not they’re meeting their goals. Likewise, this document can be referenced when it comes to determining salary increases, bonuses, proving an employee is qualified for a promotion, and more. Annual performance reviews are a fundamentally broken process. The reality is, most performance review conversations end up being rushed because managers don’t have time to prepare. This leads to a review that’s incomplete, too subjective, or lacks quality feedback all of which is ineffective and doesn’t serve its intended purpose. Adopting a continuous feedback approach helps alleviate anxiety around performance reviews.


All data is taken from the source: http://forbes.com
Article Link: https://www.forbes.com/sites/heidilynnekurter/2021/11/27/its-time-to-reinvent-your-performance-reviews-here-are-3-best-practices/


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