The old way of doing employee reviews is, well, old
How much do you love doing a performance review? Probably not much. You have to think back over the last year the employee has been with you, research issues you’ve talked about, compile the documentation, and then sit down with the employee to talk it over.
Some of what you’re telling them they will be aware of, but some of what comes up they won’t have any idea was ever an issue. How effective do you think bringing up issues is at this stage? If the issue to be corrected happened months ago, they’ve either already learned from it, or thought their way of doing things was right. Wouldn’t it be better to evaluate them regularly as issues or achievements arise?
Say so long to annual reviews
After you’ve let out a sigh of relief at never having to do another annual review, we will continue. Great, let’s get started.
Something that should be expected when a review is done only once a year: details of the issues become a little murky with time. Another thing you’re not considering is your employee. As difficult as it is for you to form the annual review, it’s just as difficult for employees to sit through. Reviews can be so unsatisfying and disheartening that employees leave their employers because they feel the reviews are unfair.
One of the reasons we do performance reviews is to motivate employees to do better and work harder. How motivated would you be if you did something in January and were given a slight pat on the back for it in October?
Performance reviews are often one-sided critiques, and when we hear that we did something well, it’s often in passing. To review an employee fairly, you should be thanking and congratulating them on the successes as well as coaching them on the bad.
Annual reviews can still be done, especially if there’s a pay raise associated with an annual review, but you may want to reconsider the way you pay. Some employees really shine, and it can be tough to reward them properly when you have a set limit of how much they can be given for a raise. If you’re unwilling or unable to give more of a raise at one time, maybe consider giving raises every few months so the gratification and reward for their hard work is more immediate.
Real-time reviews make more sense
We all want our employees to be more engaged and to grow into their roles instead of getting stuck in a rut. Ruts happen when time passes without any feedback. When you’re giving reviews regularly, praising them for their accomplishments, and coaching them for improvement when they’re floundering, you have employees who achieve more and are engaged with the company and your customers.
A new generation is entering the workforce, and they want to know if they’re doing something wrong or right immediately. Employees want to do well at their jobs, and they can’t do that if they don’t know for months on end that they’re making mistakes. Therefore, regular feedback is beneficial to both employees and the company at large.
An added benefit of real-time feedback is that it takes less time. There’s less research to do, little writing, and it opens the door for honest communication while the moment is still fresh in everyone’s minds. Employees can give insights into why errors were made, and they’re able to talk openly about exactly what happened because they remember.
When you give feedback regularly, you’re giving more encouragement and acknowledgment on a consistent basis, which helps motivate employees. More than this, meeting with employees often and giving them feedback lets them know you care about them and their future with the company. You’re taking the time to seek them out, and that shows you care.
You don’t have to wait around for a performance review, whatever shape it takes, to reward employees for a job well done. Rewards motivate employees and encourage them to set goals and strive for them.
If you are ready to kick the performance review to the curb, we have the perfect solution. Our service allows employees to see how well they’re performing in the company at large. It also gives them immediate feedback and alerts you to which employees are deserving of acclaim! Stop the performance review frustration, and start leading your company transparently!