Listen Now: The End Of Annual Reviews? Progressive Companies Change The Rules
Everyone hates review time at work, so why not pass on the whole process?
According to The Society of Human Resources management, 87% of employees and managers consider reviews a waste of time. Assigning someone’s performance a number once a year is almost impossible.
How well someone does at their job can change based on circumstances, and should be open to interpretation. So instead of the traditional method, companies such as Adobe and General Electric are trying something new, and giving employees frequent, individual feedback.
According to the job resource site Inc.com, here’s how it works. First take notes, you need to have specific examples when giving people feedback on their performance, good or bad. Discuss reward and compensation, reviews usually mean a raise so let employees know when they can expect a little extra money.
If you decide to hold regular meetings, don’t slack off. Stick to a schedule and avoid canceling, this makes employees feel like they don’t matter.
Finally listen to people, let them give feedback and ask you questions. It could mean money in your pocket.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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