For most business owners/leaders and team members, the performance review has a bad rap!
For years it has been this chore that must be accomplished and, in many cases, can actually do more harm than good.
There are two primary reasons for this undesired outcome:
- Poorly structured performance review/process
- Leaders who are not well equipped to conduct a performance review
The first can include a bad document; poor layout for including feedback, vague measurements versus “SMART” goals and inadequate time for all parties to give thoughtful consideration. It often turns into a rushed exercise to meet a self-imposed deadline.
The second, and equally important, are leaders who don’t know what a good review/process looks like because they have never had one! That’s the cycle that needs to be broken.
Today’s workforce wants real time feedback, not once a year. In that environment, there should never be a big “surprise” at review time.
If we are going to keep saying people are our greatest asset, we need to prioritize the people components of our businesses.
Equipping our leaders to meet the needs of their teams and setting mutual expectations with dual accountability can change the performance review from a chore to becoming a meaningful part of a team members professional and personal development.
As Sir Richard Branson once said, “Take care of your people and they will take care of the business.”
