It’s time to rethink performance management. In case you haven’t heard, the traditional “annual performance review” is dead. And we at Careerstone Group wish it a hearty goodbye and good riddance.
Performance Management in the 21st Century should be an ongoing conversation and not a once-a-year activity. Providing feedback yearly doesn’t help anybody succeed. Employees want and need to know if their performance is hitting the mark. Conducting regular performance management conversations is one of the most valuable activities in which any leader, manager, or supervisor can engage. These regularly scheduled conversations help the employee, the leader, and your organization thrive and succeed.
So instead of waiting until the annual review meeting to discuss performance, consider holding shorter, regular (weekly, bi-weekly, or monthly) performance conversations with your staff. It doesn’t have to be complicated. In fact, once you get into the groove–it only takes about 15 minutes! Try to meet with any staff that report to you on at least a monthly basis and use a performance conversation agenda template so that meetings are predictable and productive.
The outline goes like this:
This is a conversation, they share from their perspective, you share from yours.
There are multiple proven benefits from this format of performance management:
Finally, if you still need to do an annual performance review—then that conversation is truly a review and recap of the conversations you’ve been having all year. This is also your opportunity to review salary, bonuses, and, any upcoming changes to benefits (particularly if they are based on years of service), as well as, a big-picture review of the year’s progress and focus areas for the year ahead. That’s about it.
Show your appreciation for your employees by taking the time to make performance management an ongoing process. You will both benefit from the commitment.