It’s a good idea to hold regular performance reviews since after all, time spent equals money spent. So, you want to waste as little time as possible, this includes getting the bad habits your team may have dispersed as quickly as possible. When your company’s performance reviews are shorter and more frequent you draw a fine line as to where the employees need to be, so they know what their boundaries are and how to avoid crossing them.
One of the biggest issues with performance reviews is that management tends to point out only the negative things that have happened in the past 6 months- a year time frame. When you have more frequent reviews it’s much easier to remember the good things the employees have experienced also and it’s important to praise them and encourage similar behavior.
High job satisfaction is a big factor for retention. When you’re meeting with employees for a short period time that’s consistently occurring during the year you’re creating an opportunity to create a strong relationship and understand each employee a little better as you receive one –on-one time with them.
Whether an employee is doing a fantastic job, struggling at work or simply hasn’t been less than distracted for the past month it’s easier to speak with them sooner than later. For instance, if John has really been having terrible attendance, he’s been missing deadlines and even been leaving meetings early it’s best to speak with him within a month to bring up the issues instead of waiting 6 months-a year and losing company money, and giving him false hope that his work is acceptable. Some people just need to be “put in their place,” or they’ll push the limits as much as they can.
Another excellent part of having frequent performance reviews is the availability for talk about promotions and the future of employees at the company. This kind of conversation isn’t normally spoken about in the workplace and so it’s nice to bring this type of stuff up during performance reviews. This gives employees a great chance to see what interests their employees have along with letting employees have the chance to openly tell their bosses where they are in life.
If you chance your performance reviews to be a bit more frequent you’ll more than likely have happy employees and a lot more productivity taking place in the office.