For an organization to be successful, employees need to be able to perform to the best of their abilities. Employees can do so only if they have been given adequate feedback and clearly defined goals. Performance appraisals are an essential tool for providing employees with the guidance needed to achieve the goals of the company and the individual employee.
Performance appraisals offer a formal and consistent way to provide feedback. Employers will have the opportunity to review with the employee how well they have met job requirements and goals. Set new performance goals, including additional responsibilities based on business need. Identify areas in which performance needs to be improved and provide guidance for how the employee can meet expectations. Performance appraisals also give the employer the opportunity to discuss career advancement with their employees and identify potential training opportunities.
What are the benefits of performance appraisals to the organization?
- Documentation of performance issues, disciplinary actions, and written goals.
- A system for providing employee development opportunities.
- A regular outlet for providing performance feedback.
- Lessens legal risks should the company be involved in accusations of discrimination or illegal termination.
- A morale boost to motivate employees through a recognized and defined reward system.
What are the potential risks for employers that could occur without consistent performance appraisals?
- Unclear performance standards and expectations.
- Lack of timely feedback when performance does not meet standards.
- Failure to allow employees the opportunity to correct inadequate performance.
- Inconsistency in measuring performance from employee to employee.
- Failure to document performance objectively.
Ideally, the feedback an employee receives regarding their strengths and weaknesses will be invaluable to showing how they can put their interests and talents to the best use to benefit your company. Employee performance appraisals are an easy way to ensure you and your employee are on the same page. In addition, by letting someone know where they can improve you are providing feedback that can improve performance dramatically.
Resourcing Edge offers re360 Perform for clients to manage their performance appraisal process. Re360 Perform provides data-driven employee performance management and engagement utilizing dynamic job descriptions, engaged performance appraisals, and corrective action notices. The system will also enable employers to compare employee performance across all jobs as well as base wage analysis for each employee.
If you are interested in learning more about re360 Perform please join us for our next webinar when we will demo the system. During this training webinar you will learn how to quickly create a Job Description from an existing template. You’ll also be given a step-by-step training on how to create Goals, Performance Appraisals and Performance Notices. Finally, we will also be reviewing some great features of the system like Base Wage Analysis and how to easily spot your top and low performers with a scatter chart report. These learning objectives, along with answers to Frequently Asked Questions will give you the confidence you need to stay engaged with your workforce and make performance management decisions with ease.
Please reach out to your Client Account Manager to discuss how we can assist with your performance management needs.