Employee Performance Evaluations for the Modern Workforce
It’s been said repeatedly in the industry that annual performance reviews are no longer viewed as effective — not by managers, workers, HR leaders, or even top leadership. The modern workforce requires a new strategy for conducting employee performance evaluations, and more and more companies are replacing annual reviews with frequent employee check-ins.
The why and how of regular employee performance evaluations
It may take some time to get everyone on board with the transition from annual performance reviews to regular check-ins, or 1:1s, but it’s important to first understand why employee evaluations need an upgrade.
Millennials don’t just want frequent feedback, they need it. If it were up to them, they’d receive daily or real-time feedback on job performance, but only 15 percent are asking for more of it. Real-time feedback is rarely an option, so weekly or monthly check-ins provide a platform to receive input on how they are doing without having to wait for the annual review.
Topics discussed in these 1:1s should include both immediate workload as well as how employees are tracking toward goals that have been set for and communicated with them, plus any training or development opportunities that could improve performance.
Performance management software can boost employee reviews and engagement
There’s also evidence that holding regular check-ins, or 1:1s alone is not enough. These employee reviews are much more effective when software is used to help manage the meetings, and even guide the conversation through collaborative agendas.
The right performance management software can help enhance the review process by providing:
- A 1:1 management tool to help hold managers accountable for keeping these meetings and making them a priority.
- Collaborative agendas where both managers and team members can add topics for discussion in the next 1:1. This can help ensure that the conversations don’t always focus on current workload, but also include future goals and growth opportunities.
- Performance snapshots to make it easy to acknowledge successes and encourage improvement in areas where performance is less than ideal.
- Training enrollment so managers can immediately assign training courses and development opportunities. Employees who perceive strong advancement opportunities are less motivated to find another job, and on average, require a 43-percent pay increase to accept a competitor’s job offer.