Adapting Performance Reviews for Today’s Workforce
A 2014 study by the Society for Human Resource Management found that 72 percent of organizations conduct performance reviews annually. But recently we’ve seen a shift away from the structured, once-a-year feedback model, in large part because of the Millennial workforce.
Here are three ways you can adapt your approach to performance reviews to meet the needs of today’s workforce:
- Increase the frequency. When performance reviews only occur once per year, it often becomes all about raises and promotions. It’s also easy to forget what an employee did over the past year, so the review often centers around the person’s most recent activities (good or bad). More frequent performance discussions help managers and employees collaborate, in real time, on enhancing specific job skills and improving the overall work experience, instead of waiting months to address an issue or praise a job well done.
- Utilize technology. Not only can a digital solution for developing performance reviews reduce the time it takes to provide feedback, but the organization can draw meaningful insights from a comprehensive data set when reviews are gathered in one place as opposed to siloed on handwritten forms.
- Focus on the employee’s overall experience. Providing feedback is just one element of the employee journey. To improve employee experience, performance reviews should act as touch points for identifying employees’ goals, their progress toward achieving them, and the tools they’ll need to accomplish those goals, including training and development opportunities.
Performance reviews are completely adaptable and customizable based on your organization’s needs. Take note of the type and frequency of feedback your workforce is asking for and apply that to a review structure that will keep employees engaged and ultimately improve your bottom line.