Performance reviews form an integral part of any responsible employers commitment to their staff. Respected evidence indicates that performance reviews significantly improve staff retention levels. Performance reviews are a two way process that highlight your satisfaction with staff it also supports training and personnel or professional development, more importantly it is a positive evaluation method for you to gauge your employees’ performance.
For performance reviews to be effective and of value to both employer and employee, a structured policy needs to be in place that can be called upon when an employee’s performance has been identified as either falling below an acceptable level or is performing beyond expectation. In the majority of cases its purpose is to provide a framework for identifying or resolving a potential issue, ideally through the improvement of the employee’s performance. It may be that the employee’s performance cannot be improved and redeployment or retraining is required. In extreme cases termination of employment might be an option and there are various procedures to be followed.
A structured performance review can benefit employees instilling a high degree of satisfaction or feel-good factor in the knowledge that their efforts have been recognised and they are recognised and valued by their employer. It can also provide the foundation to discuss areas of improvement or highlight areas for development. Moreover reviews facilitate an open forum to discuss any areas of concern the employee may have effects their performance.
Working together People People HR can advise and support you with the development and implementation of an appraisal system tailored to suit the particular needs of your business that also reflects current best practice.
Performance reviews are important indicators and an integral part of performance management and should not simply be regarded as time-consuming form filling exercises. Conducted and structured correctly, they can be of considerable benefit to your business but also your staff who will feel valued members of the company.
CIPD research gathered during 2014 indicates the number of employers experiencing staff retention difficulties has climbed to 78%. Retained staffs are proven to be cost effective; moreover they add value to your business.
