A performance review is used by managers and employers as the most efficient and effective way to offer employees useful and constructive feedback on their performance in the workplace. This approach is used by many companies, from small product teams to top companies like Adobe, Deloitte and Microsoft.
At BrainRocket, we take this very seriously, so we went to HR Business Partner Team Lead, Anna Bezsmertna to learn more about her knowledge on the importance of performance reviews.
Hello, my name is Anna and I am pleased to share our view on performance reviews and why performing these reviews bi-annually is the key for running BrainRocket.
The fact is that employee performance greatly influences a company’s bottom line. So having a well-designed system in place helps staff to navigate their job responsibilities and expectations, as well as improving their overall performance.
Performance reviews might generate anxiety among employees so it is important that the process, and expectations are clearly set out in advance. Weekly or monthly catch ups with employees will help open up about their overall mindset on the job, as well as setting realistic goals and expectations. In this case, giving an efficiency mark is extremely helpful. This is based on 4 ratings.
Setting up performance reviews is also extremely important when it comes to employees’ training and development. It is a terrific way to understand and identify the strengths and weaknesses of one’s employees as well as identifying skill gaps. Moreover, when performed qualitatively, these reviews help you to navigate employee performance and technical assets and challenges as well as their overall soft skills. This will also help you to organize meaningful training and development programs that match employee needs.
At BrainRocket, Employees’ self-assessments are also incredibly crucial as they enable staff to look back and be proud of their growth and achievements, as well as finding ways to improve their shortcomings. It is very meaningful for staff to assess their overall value for the company, the impact they make, their skill sets, as well as the areas where they can further improve. This in turn, helps to improve overall employee engagement and motivation.
In addition to measuring the achievement of individual objectives, performance reviews also enable team leads to consider and evaluate their team’s overall goals. The key is to focus on metrics that are clearly definable, measurable and that the employee is able to control. These OKRs can be linked to productivity, quality and training metrics. They include but are not limited to the average task completion time, the revenue generators, the overtime hours worked, the number of errors, and the quality of the products.
There is always room for improvement, even on the lead’s part. Every member of the team has their part to play and without effective leadership, the team as a whole will not function properly. That is why the team lead needs to get feedback from their team members as well, so enhancements can be made to the teams.
Performance reviews also play an important role on the business front and help keep track of overall company performance and productivity. They enable employers to regroup and to reassess the company’s overall goals and objectives. Sometimes, due to changing market conditions, quarterly goals become irrelevant and so, certain aspects of the company’s direction need to be adjusted to ensure that it remains profitable.
So it is safe to say that a performance review is vital for the success of various important relationships and responsibilities that need to be upheld in order for a company as a whole to function, improve and grow over time.