Although the annual performance review is usually a dreaded event for everyone involved, we cannot deny that feedback is indispensable. Employees want feedback to gauge whether or not they are on the right track and they need it to for planning future projects. So, what are some important factors to keep in mind when creating a new feedback system?
Many companies are getting rid of their annual performance reviews and moving towards a system that allows for more frequent feedback. Just because most employees seem to be overly anxious during their formal review does not mean they do not appreciate the information they receive. In fact, it’s the opposite. They like hearing compliments and criticism so much that they want to hear more of it on an ongoing basis, instead of just once or twice a year.
Feedback is no longer viewed as a one-way process, as employees are drawn to a more holistic approach. By gathering multiple opinions, a well-rounded perspective of performance can be created. Since one person may have a constricted view of an employee’s accomplishments, a lot more insight can be gained by opening the conversation up to multiple sources.
The standard way of giving feedback, through performance reviews, is often perceived as boring. Employees value the ability to provide their opinions but prefer to do so in a less structured way. Perhaps it’s time we implement a system that makes the process a bit more fun. Who knows, maybe companies will even look forward to it.
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