Performance reviews are used to evaluate an employee’s position and track career growth. Performance reviews can be a benefit for both the employer and employee. These reviews will show employees where they are in their career and give a boost of motivation to make employees more productive.
Here are some reasons why performance reviews should be conducted:
1) Make your employees feel useful- Letting employees know that their work is recognized and that they are making a great contribution to the company will make employees feel valued. This also gives employers a chance to give employees positive feedback so they know where to focus their attention for improvements.
2) Realign Goals-Performance reviews also give employees a chance to set goals and make a plan for making these career goals. This can be important especially if the company is going through changes, this would be the time to realign goals.
3) Refocus employees- These evaluations give employers the opportunity to express the vision of the company to ensure that everyone is on the same page. Employers can take this time to talk with employees about promotion timelines.
A study found that 72% of organizations do performance reviews about once a year. The truth is this isn’t frequent enough to give employees the amount of feedback and recognition that they deserve. Performance reviews that are done in a correct manner can have a positive outcome on a team, motivating employees and creating hard workers for the employer.