If you are in the majority you are conducting regular performance appraisals. Yet most employers conduct only a single appraisal each year, missing out on the advantages of reviewing your employee’s performance more often.
Learn why more frequent performance appraisals can benefit your business.
First, if you are not conducting regular performance appraisal at all you are missing out on the incredible benefits of tying employee performance (and compensation) to your business objectives.
At first thought performance appraisals seem like a lot of work. And they can be if you leave them until the end of each year. But they don’t have to be difficult or nerve-wracking.
Top benefits of frequent performance appraisals
More frequent performance appraisals
- Provide an opportunity to reinforce positive performance and improve poor performance. The sooner performance improves the better for your business.
- Minimize the tendency of employees to ‘do their best’ in the weeks leading up to reviews. A more productive employee year-round improves your bottom line.
- Require less effort. By recording progress more often, events and activities are fresher in your and your staff’s mind (though you should keep accurate records) allowing you and the employee to recall specifics more easily.
- Build a foundation of trust by improving rapport with your staff.
DLP Advisors are skilled at performance appraisals and can help you begin the process, improve or refine your existing process, troubleshoot a faulty process, or (with your input) even take over the entire performance appraisal process freeing you to do what you do best: run your business!