How do you handle employee reviews in your company? Do you handle them at each employee’s anniversary? Do you review everyone in the company at the end of the year? Whichever is the case, you may not have thought much about performing a mid-year review, as well. Is it really an advantage to create a formalized mid-year performance review process? The evidence shows it can increase both employee satisfaction, as well as productivity. Here’s how.
Providing Meaningful Feedback
Communication is the cornerstone of good business practices. Your employees can’t know how to make improvements if you’re not willing to share with them the issues and potential solutions. And, so often, when an issue comes up throughout the year managers tend to address issues in public meetings, which only alienates everyone rather than solves the issue at hand. Of course, don’t forget to provide positive feedback, as well.
Review Employee and Company Objectives
A mid-year review also gives you and your employee a chance to check in with one another on company and personal goals. Where are you both with your stated objectives for the beginning of the year? Are there adjustments that need to be made? Are there tools that would make it easier to achieve these goals?
Reduces Problems That Slip Through the Cracks
It can be easy to ignore a problem and hope it goes away, especially when it seems minor. But minor problems have a tendency to multiply and if they aren’t addressed in a timely manner, they can become a major issue affecting not only your individual employee but those around them and the business itself.
Makes Year-End Reviews Even Easier
Don’t discount the way a mid-year review can alleviate some of the necessary work that goes into a year-end review. You can make your job a whole lot easier by taking additional time out in the middle of the year. Both you and your employees will find this a benefit when it doesn’t take as much time and improves the anticipation process throughout the year.
Improve Employee Morale
Finally, by having mid-year reviews, you can focus on employee satisfaction and overall company morale. And when you do that, everyone benefits. While corrective action is important, make sure you maintain a positive attitude overall by creating a culture of gratitude with your team throughout the year.
Are you interested in improving your employee retention rate? Harvard Resource Solutions, a leading staffing agency in Troy, MI, can help today.