Just like Mondays, everyone hates performance reviews. For too long HR managers have been grappling with the seemingly impossible challenge of rehabilitating this dreaded process. The problem is, you can’t create a truly valuable process for your people without thoroughly considering what they want out of it. Having helped over 100 companies revamp their performance management processes, here are five of the most common must-haves we hear from employees:
1. Clear expectations
Unclear expectations are one of the main contributors to this hatred of performance reviews. A survey of 1,000 millennials by Trinet and Wakefield reported that 62% had felt blindsided by their performance review. A worldwide study by Gallup revealed that only half of employees strongly agreed that they knew what was expected of them at work.
During the first meeting after each performance review period, it’s essential that both parties align expectations and come up with an agreed set of SMART goals and smaller milestones which serve as the basis for future feedback interactions. Afterwards, a Gallup study found that daily communication with managers - whether face to face, over the phone or electronically - leads to high engagement.
2. Meaningful feedback
Key to the success of the process, managers can make or break your performance reviews. According to Trinet and Wakefield’s survey, 59% of employees have complained that their manager was unprepared to give feedback. The feedback your employees receive should be actionable, balanced, provide insights and boost motivation.
Just like a muscle, the more your managers practice giving feedback, the more natural it’ll become. What’s more, regular feedback interactions help build a stronger rapport between managers and their team members, enabling them over time to gain a better understanding of each person’s goals, work style and how to motivate them.
3. More feedback!
The millennial generation is known for their demanding feedback needs. Growing up in the age of social media, millennials want to receive feedback instantly when they want and need it most. However, a study by Gallup found that only 19% of millennials receive routine feedback. Rather than relying solely on managers to give feedback when they have time, more and more companies are empowering their people to ask for feedback from whomever and wherever they want via user-friendly feedback apps.
4. Performance insights
The key to keeping up motivation in the long term is being able to track and see your progress over time. In an age when people are used to self-service options, it’s not enough to wait for manager check-ins for insights. Giving your people access to personal development data allows them to better understand their strengths, visualize progress and drive their professional growth.
Strengths-based development is an extremely effective method of boosting both learning and engagement. A Gallup study found that people who get to use their strengths every day are three times more likely to report having an excellent quality of life, six times more likely to be engaged at work, 8% more productive and 15% less likely to quit their jobs.
5. Timely recognition
Last, but certainly not least, praise and recognition go a long way to helping you create an engaged workforce. Think about it. When you put 100% into your job it feels good to know your hard work is appreciated.
To put into perspective just how important positive feedback is, Globoforce reported that 78% of employees they surveyed would work harder if their efforts were recognized and appreciated more often. In fact, a study by Make Their Day and Badgeville showed that employees find positive feedback even more fulfilling than rewards or gifts.
Towards employee-centered performance management
It’s time to get rid of the one size fits all model and introduce a process that’s designed with your people in mind. Impraise provides one platform through which managers, employees and HR can set SMART goals and milestones, share and ask for feedback, and keep track of personal, team and company-wide development. Reach out for a free walk-through our user-friendly platform.
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