If you’re a leader looking to boost your organization’s engagement, retention, and bottom-line growth, now is the time to consider revamping your approach to performance reviews.
Over the years, performance reviews have experienced a steady decline in popularity. Let’s face it. In today’s world, with everyone’s plate being too full, the review process may be a decade old.
The great thing is, you can turn a hated process into a motivating and engaging tool by adjusting employee reviews to work with you and benefit your organization.
Benefits of Performance Reviews
Sometimes forgotten, employee performance reviews can significantly benefit an organization in a few different ways.
They can increase employee productivity.
One of the best ways to increase employee productivity is recognizing employees for their hard work and achievements. Recognition often opens the door for more honest discussions about career growth and performance within the organization.
Employee achievements contribute to the organization’s success – so celebrate it and let employees know.
Performance reviews are also a tool to celebrate employee wins.
They help employees see a future with your company.
Employees want a clear vision of their career path within their organization, and some will leave if they don’t have one. Reviews, when done correctly, can change the team dynamic and increase organizational awareness. Because, no matter where you work, you are part of the big picture, and your role directly impacts the organization’s success.
When employees see a future within a company, they are more likely to stay. This reduces a business’s turnover rate and impacts company culture beneficially.
So what can you do to reap these benefits for your own organization?
How to Revamp Your Performance Reviews
The first step is to complete an audit of your current process, tools and training.
Training is key to ensuring everyone in the organization understands the process and the importance of performance reviews. You should include specific training for managers.
The second step is to ensure your organizational values, goals and vision are embedded throughout the document, and the review is about the employee’s role within the organization. In the same way, managers need to be specific when offering corrective feedback.
General comments such as “Your work needs to be improved” are not sufficient to inspire change in your employee. Instead, managers must use specific examples to ensure full understanding.
The third step is follow-up. Employees need to provide feedback to their manager and have a platform to do so. Employees also need to think about professional development and have those conversations at the performance review meeting.
Changing or creating new processes in your organization can take precious time – time you may not have.
Bridge Legal & HR Solutions has helped many clients audit and implement reviews for their organization that positively impacted building trust, renewed manager-employee relationships, and improved performance.
Contact us at 647-794-5442 or email admin@bridgelegalhr.ca . One of our knowledgeable consultants will help you create and implement a process tailored for your organization, culture, and, more importantly, your employees’ success.
