LUXA Human Resource Articles

The Value of Performance Reviews

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Recent studies tell us that over 70% of people desire regular feedback on how they are doing in their jobs. Yet, only 24% of people receive regular performance evaluations.

For the most part, employees come to work ready to work hard, deliver good customer service and help the company grow. We all want our jobs and careers to be fulfilling, and even more; we want to be valued for what we do.

Employee performance reviews are important to both employees and management. Do you remember the movie “Office Space”? What a great movie about the work environment. In the movie, those pointless “TPS reports” had no value whatsoever. The employees knew it but management just did not get it. If they had better employee/employer communication, that issue could have been easily resolved.

Performance reviews give employees needed feedback, direction and confirms to employees that they are part of the “greater organization”. Performance reviews allow management to assess and communicate to employees about performance and improvement needs. Many forward thinking companies are implementing innovative solutions that ensure processes deliver real results and improve performance.

How Performance Reviews Benefit the Organization

  • Establishes accountability between leaders and employees
  • Allows for open and honest dialogue between working partners
  • Helps to align employees day to day actions with “big picture” business objectives
  • Allows employees to identify and document their career path
  • Provides time for teaching and learning

The Process of Regular feedback

Remember, it is always best to provide feedback on a regular on-going basis, not just once per year. Here are a few suggestions for assessing an employee’s daily performance:

  • Observing behavior
  • Providing instruction
  • Correcting areas of weakness
  • Recognizing excellent performance
  • Listening to the employee’s concerns or ideas

Formal Performance Evaluation Process

There are many ways to set up a performance review. Here are a few suggestions:

1. Set a specific time

2. Use a form that has been completed prior to the meeting

3. Make sure you have job descriptions to compare performance against

4. Identify strengths and weakness

5. Set measurable goals or job standards

6. Review the firms strategic goals and how the employee fits in

7. Ask the employee to review themselves

8. Develop personal goals

9. Ask for feedback from the employee

Good luck and call us with any questions so we can help you achieve your goals!

 

Topics: Employee Coaching