Outcomes of performance reviews
Effective performance reviews produce outcomes that benefit your staff and your business. Agreeing on outcomes, setting goals, and following up on staff feedback will show your staff you are committed to meeting their needs. Consider these tips to help you and your management team make the most of the performance review process.
Agree on outcomes and set goals
The points of agreement made in your performance review need to be clarified in writing promptly after the session. Ensure both participants clearly state their agreement to these outcomes. Your outcomes should cover development recommendations, any offers of rewards and issues for further discussion and resolution.
Agreed future goals and objectives need clear time limits. Setting time frames will help your staff make positive, tangible progress and allow you to measure that progress.
Keep your promises
If you have offered to work further on an issue with a team member, be sure to schedule time for the necessary discussions and steps. Staff who are encouraged by your support will become quickly disillusioned if you fail to follow through.
Give your staff the tools
Identify training or coaching that is closely matched to the skills you need to cultivate in each team member. Schedule routine catch-ups with your staff to see how they are progressing. If you aren't seeing results towards your agreed objectives, change your course of action.
Consider a mentoring program
Mentoring is an inexpensive and highly effective way to build and strengthen your team. Mentoring is developing one-to-one relationships designed to build skills by sharing professional and personal insights and experiences. Consider establishing a mentoring program that allows you and senior team members to focus on the individual development needs of your team members.
Learn more about developing staff through mentoring.
Choose appropriate rewards
Consider rewards for your staff that are well matched to their individual needs. Flexible working hours or extra leave entitlements, for example, may be more appealing to some staff members than simple financial incentives. Tailored incentives also show you are paying attention to your staff and their needs.
If you choose financial incentives, take care that your policy is clear and fairly applied based on merit criteria. In choosing financial rewards, you might consider a one-off, flat bonus for chosen staff at the end of the financial year, or percentage increases based on staff performance levels.
View performance reviews as the beginning, not the end
A good performance review process is ongoing. Use your performance review processes to build stronger, more open relationships between your managers and team members. Emphasise the importance of ongoing appraisals, and ensure you and your team continue to identify development needs and measure their success. Your investment in your staff can earn your business a lasting, loyal and expert team.