How often you should have employee reviews depends on your team. You want to conduct these reviews frequently enough to address issues as they arise without having your employees feel as though you are micromanaging. Plus, you want to allow adequate time to implement the feedback provided.
As a result, you should develop criteria regarding the frequency of employee reviews to support your workforce more effectively. These suggestions can help.
Consider the following issues to determine how often you should have employee reviews.
How Often Can You Increase Compensation?
Like most companies, you probably tie together employee reviews and compensation increases to incentivize employees to improve their performance. Therefore, if you can increase employee compensation once yearly, you might have one employee review per year. Or, if you can increase employee compensation twice yearly, you might have two employee reviews per year.
How Much Time Do Managers Need to Conduct Employee Reviews?
Although having employee reviews once per year might save money, managers need adequate time to go back 12 months in an employee’s file and metrics to determine how the employee’s performance changed throughout the year. As a result, having employee reviews twice per year may be less time-consuming.
How Far Back Do You Want to Hold Employees Accountable?
A critical event that happened 8-11 months ago might not be relevant if you have employee reviews once a year. Since the employee may have already corrected the mistake, bringing it up during a review likely would cause frustration and discouragement.
As a result, you might want to have more frequent employee reviews to discuss and correct mistakes soon after they occur. This action shows you appropriately recognize and reward your employees’ performance improvement.
How Long Do Employees Need to Implement Change?
Whereas employees in some industries can immediately implement the feedback from reviews, employees in other industries may need longer to implement the changes. Therefore, although some employees may try to improve, the results might not show for an extended time.
As a result, if employees require several months or longer to demonstrate improvement, you might want to have reviews once a year. Conversely, if employees can quickly show results, you might want to have more frequent inspections.
Do You Need Additional Advice on Employee Reviews?
Talk with an expert from Connectology for advice on how often you should have employee reviews. Contact us today.