How important are Performance Reviews?
Did you know that 72% of Organizations conduct formal Appraisals only once a year?
What does Performance reviews give you?
1. Show Employees they are valued
To be fully satisfied and competent employees need to feel that they’re valued and are producing good work. The formal appraisal is a great opportunity to give your employees sincere feedback.
2. Set new goals for them
The most productive employees are those that are constantly motivated and challenged. Setting achievable targets during the appraisal helps to motivate employees and empowers them to feel more confident when they hit them.
3. Building teams
Counselling employees corrects misconceptions, which might result in work alienation. Performance management also helps employees to internalize the norms and values of the organization.
4. Strengthen bonds
It’s important for team cohesion and overall productivity that managers have good relationships with their team. Use this occasion to align priorities and discuss various matters of interest to the business with your team members, almost like a brainstorming session.
5. Refocusing your team
Appraisals can be used to help communicate your vision to team members. This is your chance to clarify and articulate your vision, ensuring that everyone is singing from the same hymn sheet.
6. Oversight on current projects
As a busy manager, it can be hard sometimes to adopt a helicopter view of on-going projects. Formal appraisals are a good opportunity to step away from the hustle and bustle of everyday work and reflect upon the overarching direction your team is heading in.
7. Assess the training needs of your team
Different people within your team will have different strengths. Use the appraisal to assess your employees’ weaknesses, identifying areas which may require additional training and support.
A final thought
“ONCE A YEAR IS NOT OFTEN ENOUGH TO GRASP HOW WELL YOUR EMPLOYEES ARE PERFORMING”
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