Transform the Annual Performance Review From Dreaded Procedure to Invaluable Tool
How do you view performance reviews For many employers and employees alike, it’s a dreaded time. Employees are afraid they’re going to hear only what they’ve done wrong and not get the raise they want. Employers are just waiting to hear how every single employee wants a substantial raise. You can transform annual performance review to something more than a dreaded technicality by changing the way you view it.
Instead of seeing it as a necessity for the employee, you should think of it as something that improves the entire business. Listed below are a few steps that you can take to turn the review process into a useful tool.
1. Stay Up-to-Date
The performance review is a chance for you and your employees to get up-to-date. It’s best to do this type of review near the anniversary date. Otherwise you are just inviting uncomfortable situations into the workplace. Part of staying up-to-date is really keeping an eye on the proper dates, and doing the reviews in a timely manner.
While you want to use the review as a chance to go over what has happened in the past year, you don’t want this to be the only time you review. You can keep yourself and your employees up-to-date by giving them encouragement and tips throughout the year. You can transform annual performance review into something less dreaded by talking about your employee’s performance at other times too. That can make the process less of a surprise.
2. Turn to Self-Evaluation
You don’t have to be the only one doing the evaluating. It can be a helpful exercise if you ask your employees to write down their biggest accomplishments from the past year. This does two things. First, it gives your employees a chance to practice their self-assessment skills. Second, it shows that you want to hear their opinion.
You can also ask them about the salaries they think they deserve. The number they give you can be used as a guide when it comes time to actually dole out raises. Of course, this won’t transform annual performance review by itself. You have to understand why this self-evaluation is important. How does your employees seeing what they’ve done well and where they can improve help you and your business Obviously this self-reflection can improve efficiency and productivity.
3. Talk About Assistance
You should also use the performance reviews as a time for your performance to be evaluated. Ask your employees how you, and the other managers at the company, could have better assisted them throughout the year. If you want to transform annual performance review, you have to treat it as more than just a review for the employee.
When the management is performing at a high level, it allows the workers to perform at their highest level. Using the review as a time to better the management makes it an invaluable tool. When you start listening to the employee’s input, you’ll likely see drastic results.
4. Use Bonuses
Many employees want to get a raise. That makes sense, especially when you think about inflation. However, you can also consider using bonuses. Give your employees a smaller raise, but also give them a onetime bonus. You can give bonuses when an employee has made a considerable contribution to the company or just as something extra. You want to transform annual performance review into something useful Show your employees that you appreciate what they do through a bonus.
5. Introduce Flexibility
There are other ways you can show your employees that you appreciate the work they do. You can introduce a flexible schedule. As a manager or owner, are you able to leave work early on a weekday and make up the time on a Saturday If so, maybe you can give your employees a similar amount of freedom. Use the review as a time to go over their schedule flexibilities, so you can transform annual performance review into a tool that has a purpose.
Make Procedures Useful
Holding a review just for the sake of holding a review is a waste of time. You need to take steps that make the annual performance review truly useful. The same can be said for a number of other business procedures. You don’t have to hold meetings, perform reviews or send memos just for the sake of acting like a business. Make sure that all of your procedures are useful by performing them in a way that is helpful.
You can turn to Mighty Recruiter to get more ideas about how to transform annual performance review into a useful procedure. Visit Mighty Recruiter today for more ideas on business improvement and hiring standout employees.