Whilst most of the employees don’t like to undergo performance reviews, millennials particularly on the other hand hate them the most. This is because a huge number of millennials or the Gen-Y workforce think that performance review processes that are in practice today should undergo a complete overhaul.
According to a recent report, poor performance reviews are the main reasons why great talents don’t stay for long in many companies. The best performance management system or process is the one that includes relevant and frequent feedback. This is proving out to be the number one driving factor for employee engagement these days.
Here are three reasons your performance review process needs a complete overhaul:
1. Sporadic reviews
Yes, annual or yearly performance reviews are seeing a downturn these days. In fact, even large-scale businesses are shunning this age-old practice of annual performance reviews to pave way for a more approach-based performance review practice.
Frequent feedback and performance reviews help employees especially millennials to identify their weaker areas that need improvement. Further, annual performance reviews consume hours of time and effort. This is the reason why many companies are turning to automated performance management software to simplify the entire process and eliminate the need to surf through heaps of performance data for each employee.
2. Lack of two-way communication
Yes, today’s workforce generation wants a more positive and casual atmosphere when it comes to employee appraisal or performance review. No one would wish to sit through hours of grilling session of criticism.
An informal performance review is more conversation-friendly and focuses on positives. In fact, it allows the employees to assess their performance and talk about concerns over the feedback being provided. Some companies even have appraisal systems in place that provide employees with the liberty to solicit feedback as and when they want.
3. Vague feedbacks
Another common and critical issue with most of the performance review processes is providing the employees with a vague feedback. Today, employees prefer having more goals and metrics oriented feedbacks. This also evades any conflicts that may arise due to biases.
Employees ought to know their company’s expectations right from day one when getting on-board. Thus, business leaders and entrepreneurs ought to make feedbacks measurable and to-the-point.
That occasional “good job” won’t do any good today. In fact, it’s time to be specific when appreciating a job well done.
To learn in detail how an automated and cloud-based performance management software can help you streamline and simplify the entire process of performance reviews. You can also write to us at firstname.lastname@example.org or simply give us a shout-at our Twitter or Facebook handle.