Are your employees meeting company goals? How productive are they, and what is their overall performance? These are important questions to answer, since the quality of employee output impacts your ability to meet clients’ needs. It’s critical to build a performance review strategy, which helps you understand how well employees are delivering on their goals, based on their roles and responsibilities, as well as your overall business plan. This evaluation helps you know when your workers need guidance and support to improve, or when they need growth opportunities to reach new levels of excellence.
Four components of top performance review strategies
Performance reviews should be an ongoing part of your managerial mission to lead your workers to greatness. They provide a gauge against which staff can measure their daily work activities and accomplishments—helping them know whether they’re doing well. A performance review strategy should include all of the following:
- Goals that align with business objectives. Your workers’ daily responsibilities should be in support of the company mission and future plans. This way, staff can help you achieve optimum results. Work with each employee to set mid-year and annual goals, and touch base on a regular basis to review steps they need to check off to meet these goals.
- Steps for development of knowledge and skills. Goals should be both short and long term. Plus, they should come with an action plan. If an employee wants to master a specific skill, work together to determine ways to make that happen.
- Employee accountability for their goals. One of the best ways to achieve this is by talking to your workers individually about their career growth expectations. For example, if an employee aspires to be a supervisor or manager, help them set goals that allow them to move toward this type of position. By understanding how goals help them achieve their dreams, they will be more apt to work towards them.
- Tracking of performance, compensation and career planning. It’s important to keep documentation of employees’ goals, accomplishments, raises and performance reviews. You’ll be able to justify business decisions to your superiors, such as promoting a worker or letting one go. Also, a record of their reviews and job status is a handy reference for an employee.
In need of additional staff?
As you conduct performance reviews, you set standards by which to measure workers’ performance. This can help to weed out underperformance. It can be difficult, but performance reviews give you important parameters that indicate when it’s time to make staffing changes.
McGrath Systems can help
We work with employers to understand your staffing needs and devise a plan that works. To learn more about our available staffing services and speak with one of our experienced recruiters, contact us today!