HR leaders don’t think performance reviews yield accurate information
Did you know? 9 in 10 human resources leaders don’t think annual performance reviews yield accurate information.
In the beginning, there were performance reviews for employees
When it comes to performance reviews, employees and management experts far and wide have voiced their belief that performance reviews are ineffective for employees.
But recent Gallup studies shed new light on this story: 74% of employees believe their performance reviews are inaccurate reflections of what they achieved at work.
That means performance reviews are not necessarily ineffective, but rather, not conducted in a manner that yields accurate performance information and feedback.
To make matters worse, 22% of employees are calling in sick to avoid their performance reviews because of this. With over 47% of employees seeking new employment after receiving inaccurate results.
All of this accounts for an average expenditure of $3,000 per U.S. employee during the performance review process (including employee time and technology), according to a Corporate Executive Board (CEB) survey of Fortune 1,000 companies. That’s a huge expense for a business activity that doesn’t yield accurate results.
But this is just the employees’ side of the story.
Then, HR leaders aligned their stance with employees on the performance review forefront
From the eyes of HR leaders, we’ve discovered, they also believe performance reviews are not necessarily ineffective, but rather, are currently conducted in a way that doesn’t yield accurate information.
In fact, “…management research firm CEB Global reports that nearly nine in 10 human resources leaders don’t think annual performance reviews yield accurate information.”
So not only are employees dissatisfied with the way performance reviews are being conducted, HR leaders also experience the pain of facilitating a process that doesn’t yield accurate performance information.
Luckily, your company doesn’t have to be part of these statistics.
Now, you can take action to conduct more accurate performance information
Generating accurate performance information is only fair to your employees. And fairness should be at the core of every company’s values if not already assumed.
With this in mind, the question that remains is: what are things growing companies can do to create a more accurate performance review process for employees?
Often times, our customers start with weekly 1-on-1s.
In many ways, it’s a quick and easy performance review that’s meant to get employees into the habit of documenting their performance.
And they don’t have to be difficult to coordinate. Weekly 1-on-1s can be scheduled automatically and kept very short.
For how quick and easy 1-on-1s are to do, the results are tremendous. They hit all our pain points: accuracy and frequency. And chances are, employees will remember what they did on any given week and document it accurately.
Now you might be wondering, how are these helping companies conduct more accurate performance reviews?
Imagine conducting performance reviews at the end of the year after having collected performance information from 1-on-1s every week.
The experience of having performance information frequently throughout the year means that performance reviews are substantially more accurate and fair to employees.
By emphasizing the importance of performance feedback throughout the year, growing companies are setting themselves up for success when it comes to saving time, talent and trust—all in time for annual reviews.
At 7Geese, we’re incredibly excited to make it easier than ever for companies to facilitate accurate performance reviews with the help of automatically populated employee data.
Here’s to more accurate and frequent feedback employees actually want!
To learn more or to get started, download our free guide to implementing a performance review process.
Also published on Medium.