If you're an HR pro or manager, the end of the year doesn't remind you of snow and wonderful holiday celebrations, but painful performance review time.
And this is exacerbated if you are one of the 52% of companies that conducts annual reviews. Why? Because you’re forced to remember everything Tim from financial operations did since last year at this time. And that is ridiculous! You only see the guy once a month.
Add in the fact that you have to do this with 10, 20, 30, 100 employees and you start seeing why companies like General Electric, Accenture and Microsoft are dropping the annual performance in favor of something even better. Microfeedback.
Well, that’s what we call it anyway. Other people call it “building a performance culture” or “consistent feedback” or just regular feedback. No matter what you call it, it’s changing the way companies, large and small, look at performance.
So what does this trend mean for you during annual performance review time? Well, if you’re reading this article, chances are, you’re procrastinating and trying to find some way, ANY way, out of this annual performance hell.
“The best time to plant a tree is 25 years ago. The second best time is today.”
Sure you’ve heard that quote. The wisdom inside it is obvious. No you might not be able to get out from under the deluge of annual performance reviews you have to do this year, but you CAN lay the groundwork for why it needs to change before the next time you have to slog through it.
If you know how much time is spent on annual performance reviews when conducted in one large swath, you can easily calculate how much time and money you will save by implementing microfeedback across the organization. Check out our handy ROI calculator to save you a step or two.
There’s never a better time to ask employees how valuable their reviews are than right after you conduct one. Whether your company subscribes to 360-degree reviews or one-on ones, you can have someone from your department ask immediately after the review how beneficial your employees thought the experience was. Or send out a simple survey via email.
Does productivity shoot up? Does it go down? What do your retention numbers look like? This is all information that can be used to make a case for more consistent feedback. Don’t forget to check your own productivity, after all, it might be tough to get your regular work done with 100 reviews due before Christmas.
Ask them what they need from you to do their job better (ask other managers to do the same). I’ll bet you $500 they say “more feedback” 7 out of 10 times. Document this feedback to prove to your executive team that feedback is a great choice when offered more consistently to improve productivity, engagement and morale.
Need a more immediate solution to get you through annual performance review time? Try iRevü today. We have a full-featured free trial and it takes about five minutes to set up. Get the groundwork done today by building out your values and giving some feedback. By the time your next review period comes up, you’ll have a comprehensive record of feedback, data about how your employees are mapping to your values and some anecdotal data around how much more productive your employees are.
Everyone else is trying microfeedback. Why are you still slogging through annual reviews?
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