We might be only halfway through the year, but preparation for annual performance reviews are already taking place. Companies are preparing their end of year performance reviews months in advance so they can have the best results possible. And before companies start to take their employees one by one into the conference rooms to assess their performances it’s better if we discussed whether this time-honored tradition is still relevant today or not.
See Also: How to Survive a Pay Performance Review
Why wait a whole year to evaluate your employees? Shouldn’t it be better to use weekly check-ins? 21st-century people have access to instantaneous communication, so people are used to quick responses; waiting for the year to end to get helpful feedback is too long for impatient employees.
While we are not suggesting completely scrapping end of year reviews, entrepreneurs should also start using weekly performance evaluations. If you are still not convinced, here are four reasons why annual performance reviews are out-of-date.
They Aren't Shared
Year-end performance reviews are often a one-way street as the manager gives feedback to the employee. Weekly reviews, however, give the opportunity for employees to share their feelings with the employer.
You can start off by asking your employees these questions each week:
- What is going well for you?
- Are you facing any challenges? Do you need any help?
- What could improve your job or the company’s job? Do you have any ideas?
- What is the morale around you? How do you feel?
You could either do this in person, via email or via specific software. This way you can use the answers to better engage with your employees.
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By reviewing all your employees only once a year you only get one touch point, on the other hand, weekly check-ins provide employers 50 touch points, at least. Having one touch point gives the feeling of a burdensome task whereas weekly check-ins provide a more lightweight and responsive feedback session.
They're Not in Real Time
Your products and services as an organization launch quite quickly, right? And your customer engagement happens on a daily basis- especially through social media. So why isn’t employee feedback done in real time, too?
Speedy feedback gives the opportunity for quick learning and correction as well as giving the chance to give quick praise to your employees - employees work better when they know they are truly valued.
They Can Be Subjective
End of year reviews are often an evaluation of the last couple of months, unless an employee’s entire performance is documented throughout the year - but this is highly unlikely.
The last three months can’t give a full picture of an employee’s work ethic; maybe something personal happened during those months that deteriorated their performance. But, a weekly review can provide a more objective evaluation of their performance.
See Also: How to Write Your Own Performance Review
Do you agree that annual performance reviews are out-of-date and need to be replaced with weekly reviews? Let us know below…