Hello there,
Happy April! This month we’re discussing performance reviews/appraisals and why they are so important. They can improve morale, job satisfaction and every owner/manager’s favourite thing – productivity!
If the words ‘performance appraisal’ are enough to send you into a cold sweat, chances are it’s time to put a new program in place and we are here to help. Think of the modern performance appraisal as a chance to re-energize employees, identify opportunities and to boost productivity to grow your business. By providing constructive and honest feedback – and asking your employee for the same – you could receive the following fantastic benefits:
- Identify development areas
- Increase job satisfaction
- Increase morale
- Identify high achievers
- Provide support to under-performers
- Set expectations and manage issues
- Increase customer satisfaction
If you are increasing everyone’s performance level by 10% from the appraisal process, imagine what impact it could have across your whole business!
Good luck!
PS: If you’re keen to get started, we have developed an easy to use Performance Appraisal Template. You can buy it here for $17!
4 STEPS TO PERFORMANCE APPRAISAL SUCCESS
- Do them regularly – at the minimum 12 month intervals but now 3 and 6 month appraisals are becoming more common. More regular appraisals can be helpful for new starters to keep on track and ensure your and their expectations are being met. At Latitude, we do them at the 1 month mark to ease the new starter in and set KPI’s for the quarter.
- Before the appraisal, get feedback from the employee about what is going well and what could be improved. People working in your business often have great ideas for process improvements -all you need to do is ask them!
- Implement the actions that arise – when training or development opportunities come up in the appraisal, act on them- your employees will become more engaged when they feel they are being supported
- Set goals/KPIs moving forward – Set new goals or KPIs to work towards for the next appraisal period and check performance in the next appraisal.
