Performance reviews 101: Why are they important and where do you start?
The words ‘performance review’ may conjure up thoughts of awkward once-a-year conversations that lead to nowhere. If so, you’re not alone. Research has found that performance reviews are, on average, more despised than power companies, internet service providers and health insurance companies.
That said, research also shows that organisations with employees who are satisfied with their company’s approach to performance management are 1.3 times more likely to meet their financial targets. This suggests the need for a performance review evolution, not elimination.
This guide will help you structure performance reviews so that they’re actually valuable to you and your employees.
The value of performance reviews
Strengthens the trust (and therefore the relationship) between you and your team, making you a more effective leader