What Performance Review schedule works best for you? Let's find out!
Quarterly Performance Reviews
What is a Quarterly Review?
A performance review that is submitted to employees to complete each quarter or every few months, highlighting their recent performance.
Why Launch a Quarterly Performance Review?
Quarterly reviews allow management to address performance, on a more regular basis. By having an evaluation every quarter, there is more accuracy and accountability with addressing performance gaps and tracking goals.
Is a Quarterly Review right for you and your organization? Here are some more benefits!
Allows employees to frequently modify their short and long term goals if needed.
With a review every quarter or few months, management is able to address issues mentioned quickly, leading to a quicker resolution.
Feedback is more effective when it is in a timely manner. In the moment feedback is more valuable than feedback given a year or so later.
When you initiate a dialogue with your employees every few months, it opens up a line of communication and can strengthen relationships.
Employees feel more heard and appreciated, resulting in a more positive work environment and stronger employee retention.
Self Evaluations
What is a Self Evaluation?
Self Evaluations require employees to judge their own performance. Typically a Self Evaluation is launched before an Annual Performance Review to allow for more thorough discussions.
Why Launch a Self Evaluation?
Employees have the opportunity to identify what they do and do not enjoy in their specific role, as well as discuss the accomplishments that they are most proud of and areas where they believe they could improve on.
Although Employees may not always rate themselves and their performance accurately, the discrepancies between the employee and their manager evaluations can be insightful.
Are Self Evaluations right for you and your organization? Here are some more benefits!
Employees are able to provide details on their own experience, providing useful insight on how they are feeling in their role.
Employees have an opportunity to leave feedback for their management or organization as a whole.
Self Evaluations provide the communication for employees to talk about what goals that they would like to work on.
Helps employees become aware of their own strengths and weaknesses.
Annual Performance Reviews
What is an Annual Performance Review?
A Performance Review submitted to employees once a year, asking them to reflect on their accomplishments and performance from the previous year.
Why launch an Annual Performance review?
One of the most common purposes of an annual performance review is to address a long term scope of employee development.
Are Annual Performance Reviews right for you and your organization? Here are some more benefits!
Performance Reviews once a year help in moving forward with potential promotions and salary increases. In addition to work performance, attendance, communication etc during a review, employers can better determine salary packages. Packages could include bonuses, higher salary rates, extra benefits and allowances for effective employees.
Annual Performance reviews can help provide a stepping stone and build a foundation for communication between employee and their manager. During the review, it is important to touch upon how often you would like to connect with your manager.
360 Reviews
What is a 360 Review?
360-degree feedback is a complex performance appraisal method that evaluates an employee using feedback collected from the employees circle of influence, mainly manager and peers.
Why Launch 360 Reviews?
Coworkers get a unique perspective on an employee’s performance, making them an extremely relevant evaluator. These reviews focus heavily on the employees willingness to take initiative, ability to work well with their team and if they are a dependable contributor.
Are 360 Reviews right for you and your organization? Here are some more benefits!
Increases the employee’s awareness of how they perform and their impact.
Helps employees gain useful judgmental skills when they assess the work of their peers, learning how to evaluate and criticize can help employees in their path to a managerial position.
By allowing the employees to be a crucial part of the evaluation process, 360 Reviews can improve employee engagement within your organization.
You have now decided which Performance Review is right for your Organization, now let's build it in HelloTeam!