Annual performance reviews have been a pillar of the employee experience for decades. Unfortunately, employee feedback on the process isn’t glowing. A staggering 86% of employees aren’t strongly motivated to improve their performance after annual reviews. Furthermore, 80% of people feel their company’s performance management strategy isn’t encouraging them to do their best work.
It’s therefore no surprise that countless organizations have thrown antiquated performance management strategies out the window, making room for the more frequent and meaningful check-ins associated with a continuous feedback loop. These companies – including Microsoft, Adobe, Deloitte, and GE – report positive results after switching, including improved productivity and innovation, reduced turnover, and increased engagement.
Don’t get us wrong – year-end reviews are still important. In fact, annual performance reviews are a great way to celebrate achievements and learnings in the past year and provide holistic feedback for employees. They just shouldn’t be your only performance management strategy.
Your best bet is employing continuous performance management that combines regular check-ins and year-end reviews to support employees, reflect on learnings, and plan for the future.
Below are three ways to ensure your organization’s 1:1 meetings are as positive and productive as possible for your workforce.