Performance Appraisals Matter
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Every company approaches performance appraisals a little differently. For some it’s an annual review and for others, these important meetings are scheduled to take place bi-annually or even quarterly. Many companies use performance appraisals as a platform to identify associates who deserve raises, adjustments to their benefits packages, or promotional and career advancement opportunities. Some engage teams of people to assess and provide feedback on associate performance, while others view performance appraisals as private, one-on-one conversations that only involve the associate and his or her supervisor. And while the structure and format for performance appraisals can vary greatly, the goal and purpose are fairly consistent across the board.
“Performance appraisals bring employees and their managers together into intentional conversation, with focus on where they are hitting the mark and where there are opportunities to improve,” said Zachary Cochran, Founder of Cochran Coaching, LLC, and a facilitator who is part of Training & Development Solutions’ team of expert trainers. “These meetings open a door for open communication and mutual understanding to take place, with benefits for both parties.”
From his experience as a facilitator and coach, Cochran knows first hand how important it is for employees and their supervisors to communicate and share feedback with one another, on a continuous basis - and not ONLY during performance appraisals.
“When the time comes for an employee and his and her supervisor to sit down for a performance appraisal meeting, there really should not be any surprises,” said Cochran. “Instead, it should feel like a time for recap or reflection on topics that have been discussed and concentrated on, over time.”
Cochran says that these days, the concept of a “360 Review” has become increasingly popular, especially in cases where a supervisor and employee don’t share the same physical space. A 360 Review engages people from various levels of the organization who work with the associate on a regular basis, and collects their perspective on how the person communicates, collaborates, and performs the duties of their job. The feedback that is documented by various members of the team can be shared with associate at his or her performance appraisal meeting, and can help the associate understand how they are perceived by their peers and managers, comprehensively.
“The hope is that people take the information they receive during their performance appraisal, internalize it, and do something positive with it,” said Cochran. “This can be a positive process that gives employees direction and guidance for personal and professional growth.”
Today, more and more companies are investing in training programs to help their teams improve the performance appraisal process, and value it in new ways.
“I think more and more leaders are starting to understand how important it is to establish structure, consistency, and a common language for how performance appraisals are approached within their companies,” said Cochran. “Training programs can be customized for clients, with focus on where they are versus where they want to be, and how their internal performance appraisal process can support both their growth and culture goals.”
In addition to giving supervisors and associates solid tools to facilitate the performance appraisal process, customized training can also go a long way in supporting a company’s goals from recruitment, retention, and employee engagement standpoints.
“It’s no secret that the process of hiring, training, re-hiring, and re-training often comes at a high cost for employers,” said Cochran. “So, creating a culture that prioritizes engagement generates an incredibly important baseline for success. Engagement increases loyalty. Loyalty increases productivity and retention. And increased productivity and retention boosts the bottom line.”