Are Performance Reviews a Waste of Time?
As we look to a new year we’ve had some time to reflect and after-action the EOY Performance Review System(s). The question I keep coming back to is… “is the juice worth the squeeze?” There is clearly some value with having a review process, but is it worth the time and energy? So often they can become a heavy burden and distraction away from your organization’s mission. I wanted to post the questions/themes that we frequently consider when designing performance management systems. Which parts do you like? Which parts do you leave out?
What is the main purpose of a performance review system; and do they achieve the purpose? Its intended purpose may include:
- Reduce recency bias for EOY compensation decisions
- Baseline on standards of performance and highlight high-potential employees
- Career/Professional development
- Culling of the workforce through force rankings
What components a performance review system might include:
- Manager Evaluation (feedback & ratings)
- Self-Evaluation (review of year, goals, etc.)
- Calibration Meeting
Common points of contention with performance review systems:
- 360 Feedback – should it be attributable or anonymous? Does the answer reflect the culture?
- Ratings – useful or not? Best way to think about rating scales?
- Takes a lot of time – what parts of it are mission-critical? What parts are a waste of time?
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