Author: Felicia Lilien Wagner (SHRM-CP, MHRM)
The singular annual appraisal process is old news. For almost a decade, firms have been replacing annual reviews with frequent, informal check-ins between managers and employees.
Technology companies such as Adobe, Juniper Systems, Dell, Microsoft, and IBM have led the way. Yet they’ve been joined by a number of professional services firms (Deloitte, Accenture, PwC), early adopters in other industries (Gap, Lear, OppenheimerFunds), and even General Electric, the longtime role model for traditional appraisals.1
If you’re searching for the secret sauce for keeping your superstars shining bright in this heavily volatile candidate market, you may want to consider how you approach periodic performance reviews. Think of it as the ultimate treasure hunt – with the treasure being a workforce that’s not only thriving but also sticking around for the long haul.
Periodic performance reviews serve as a cornerstone in fostering a culture of continuous improvement within the organizational fabric. Far beyond routine evaluations, they provide a structured mechanism for evaluating performance, identifying developmental avenues, ensuring alignment with core values, offering constructive feedback, and collaboratively setting strategic goals. As a result, periodic reviews play an integral role in enhancing individual and organizational efficacy.
The Magic of Periodic Reviews
Periodic reviews aren’t just a mundane HR ritual; they’re the magic wand that can turn your lackluster workforce into an inspired powerhouse. These reviews aren’t about endless forms and stern faces – they’re about creating a space for growth, improvement, and celebrating wins!
More frequent feedback reduces stress and allows employees to ease into evaluations as a tool for growth rather than an opportunity to expose their flaws or inadequacies. Using periodic reviews as an opportunity for encouragement and recognition will help your employees look forward to receiving critical and constructive feedback, and they will be much more likely to implement it.
Guidance for New Hires: The 30-60-90 New Hire Onboarding Cadence
In the journey of talent development, the initial stages of onboarding are pivotal. Integrating a 30-60-90 new hire onboarding cadence introduces a systematic approach to evaluations, ensuring managers engage in purposeful check-ins at key milestones. This approach not only streamlines the onboarding process but establishes clear expectations, fostering an environment conducive to sustained success.
Throughout the Year: The Strategic Significance of Quarterly Conversations
As the corporate landscape evolves, integrating regular reviews throughout the year emerges as a strategic imperative. On our team, we leverage the EOS model with its Quarterly Conversations. This approach provides us with a flexible framework for continuous communication and alignment. These regular check-ins allow us to quickly adapt to changing priorities, ensuring that talent development stays agile and responsive within our organizational strategy.
Review Focus Areas: A Holistic Approach
Effective reviews should go beyond traditional performance metrics and should take a comprehensive approach that includes:
1. Performance Evaluation
2. Developmental Opportunities
3. Values Alignment
4. Constructive Feedback
5. Goal Setting
Collaboratively establish clear and achievable goals for the upcoming review period, whether it’s the next 90 days or another specified timeframe.
Benefits of Periodic Reviews
Talent Development: Periodic reviews serve as a roadmap for individual growth, ensuring employees possess the requisite skills for career progression.
Performance Optimization: Regular feedback and goal-setting contribute to a culture of continuous improvement, elevating overall organizational performance.
Employee Retention: A positive and structured review process nurtures a sense of value and engagement, resulting in reduced turnover rates.
Practical Insights: Implementing Effective Reviews
1. Establish a Clear Process
2. Managerial Preparedness
3. Sample Review Framework
Equip managers and employees with a sample review form, serving as a guide to ensure consistency and thorough evaluation.
Creating a Culture of Open and Honest Feedback
Regularly scheduled performance evaluations validate your employee’s hard work and provide them with opportunities for improvement when faced with challenges. However, creating a culture of open and honest feedback does not end there.
Consistent recognition and feedback within your company before, during, and after performance reviews will cause them to be less anxiety-inducing and will allow your employees to see them as empowering and a positive part of their growth and development. It’s important for managers to become comfortable with soliciting feedback, which can include surveys or incorporating open-ended questions into their daily conversations to model what a culture of open and honest feedback can and should look like.
Conclusion
In summation, periodic performance reviews emerge not merely as a best practice but as a strategic imperative for organizations aspiring to achieve sustained excellence. As a vehicle for talent development, performance enhancement, and employee retention, these reviews offer a nuanced understanding of individual and collective contributions.
Periodic reviews also enhance both the employee and managerial experience. Having a framework for improvement leaves little to no room for miscommunication, confusion, or feelings of inadequacy. Understanding where an employee stands and what is expected of them can help alleviate unexpected terminations, which can tarnish a company’s reputation when they are looking to hire.
Organizations can unlock the full potential of their workforce by adopting a holistic approach that includes new hire onboarding cadences, quarterly conversations, and a comprehensive focus on diverse performance aspects. In a dynamic business landscape, periodic reviews are not just a procedural necessity but indispensable instruments for navigating the intricacies of talent management with precision and purpose.
