Performance reviews are meetings between an employer and the employees that are meant to help review the performance of the employee. In such a meeting, an employee’s performance, aspirations, goals, and objectives are assessed once a year so that the employer or the manager and the employee can be on the same page with each other; in as far as their working relationship is concerned. There are many benefits that come with this kind of a meeting. Rather, there are many benefits that accrue to the company and the employee when regular performance reviews are carried out. Performance Review meetings can actually be as frequent as every month, every two months, every quarter, or even after six months. This is an issue that can be discussed and agreed between the parties.
Here are 5 benefits to giving employees performance reviews:
1. Helps to identify, maintain and track goals
Performance appraisals are important when one wants to track the goals and strengths of their employees. This is particularly so when you want to compare the performance of your employees over a period of time. When you have this kind of information from the performance reviews, you are able to design the right kinds of goals that reflect the capabilities of the various employees.
2. Prevents miscommunication
With the regular performance reviews or check-ins, it is easy for the employer and the employees to be on the same page and ensure that everyone is aware of what they need to be doing. When an employer schedules a regular meeting with their employees, it is easy for the parties to discuss and ask relevant questions about what each needs to do. In this regard, everyone knows what is expected of them and how to go about their roles.
3. Everyone is kept engaged
One of the biggest concerns of the human resource departments in many organizations nowadays is employee engagement. When you carry out employee reviews, it means that you will check on their performance, challenges and their successes on a regular basis. This way, you will keep all the employees occupied and their productivity will definitely be high. It also makes it possible for you and the employees to share on the progress of the projects and make alterations where necessary.
4. Gives you insights on how to be a better manager
Performance reviews are actually two-way traffics. This means that you can have the employees help you to achieve your goals as you help them achieve theirs. You can actually have the employees give you a review and try to improve on the areas they point out to you. This way, you become a better manager and increase your prospects of promotions.
5. It motivates the employees to work harder
With a merit-based kind of compensation after positive reviews, many workers will be happy to be appraised and get rewards. With an organization that rewards positive development, many workers will be happy to work hard and uplift the performance of their company. Equally, workers that lag behind will always want to do better and get rewarded as well. As such, employee performance reviews enhance motivation by all means.