At a minimum, performance reviews should be held annually, but there are numerous benefits to holding appraisals more frequently than this.
Why hold regular appraisals?
1. Better working environment
The United Nations World Happiness Report in 2017 found that the work we do makes us happy, (and can on the flipside, make us rather unhappy). The report found the deciding factors were; how well managed our jobs are, and if we feel secure in them.
Appraisals done well can be seen as a big step towards establishing one of these “well-managed” environments vital for staff to thrive and engagement to increase.
2. Happier staff
Giving regular feedback has also been proven to be more effective in creating a feeling of security for employees, lowering staff turnover and its associated costs. It can bolster an employees’ sense of their value and inclusion in the business, simply by way of regularised communication and a small window of time when you entirely focus on them and their role. We’re social creatures by nature and feeling part of something bigger than ourselves can be a big boost to happiness.
3. Less work in the long run
Giving regular feedback can make an annual review feel like less of an ordeal. The employee will already have a fair idea of the strengths and weaknesses, and their manager should have a stronger recollection of their performance across the year, which should lighten the effort needed to compile feedback.
4. Manage expectations
In a survey by Adobe into annual reviews, 52% of employees were found to be shocked at the feedback they received, 37% felt resentful to their managers afterwards and 22% were very upset. This all points to a serious discrepancy in opinions and expectations between employers and employees, which could easily have been rectified sooner though more regular feedback.
Taking a moment to take stock and reflect can be hard to prioritise when there are so many urgent and tangible issues vying for your attention. But working to incorporate regular reviews into the calendar should help to make the process feel more streamlined, and you’ll quickly win the time back through a more focused and productive workforce.
HR software can help you keep your review process on track by enabling you to set alerts at regular intervals throughout the year to notify everyone when reviews are coming up and remind them to prepare. The software also allows you to distribute and store appraisal questionnaires and record and monitor goals set through the review process.
If you’d like to hear or even see how HR software could benefit your business please email us on help@citrusHR.com or call us on 0344 444 0165 and we’ll be happy to give you a demo or schedule a demo at a time that works for you. Or try a free trial.