For a long time, annual reviews were the customary way to give feedback to staff members in corporate America. Now, however, changing attitudes and shifting demographics have caused the annual review to fall out of favor. If your company is still doing annual reviews, here are a few key reasons you may want to shift tactics and revamp your performance review practices.
- Employees prefer more regular feedback. In a digital world, people are used to instant responses and timely feedback. A preference for immediate information is making its way into the workplace. Employees want to know on an ongoing basis how they are doing in real-time, rather than waiting for a once-a-year review. Managers would also prefer to provide advice and suggestions in the moment when everyone’s focused on the particular issue.
- Regular feedback is likely to be more effective. During an annual performance review, employees are often inundated with information – much of which may be about work that was done months before. This doesn’t translate into very effective feedback, which provides real opportunities for improvement. When employees get ongoing feedback, they can incorporate the advice they get into their work on a daily basis.
- Managers and staff find performance reviews stressful. Employees often fear and hate performance reviews, while managers who are giving the reviews end up stressed out by trying to go back through months of projects and figure out how to rate workers. All of this can be avoided by eliminating these annual reviews.
Whatever type of performance reviews or feedback process is used, make sure your company has a great staff who can respond to constructive criticism and can incorporate suggestions to improve their work performance. Hiring the right people is an essential first step to employing workers who can adapt and improve.
A staffing agency can help you to put together a strong and competent staff who can do the best possible job for your business. SmartTalent provides assistance to companies with the hiring process in Kirkland, Fife, Renton, Lynnwood, Lacey and surrounding areas. Give us a call today to learn more about how we can assist you with all of your hiring needs.