The importance of appraising employees.
- Establishes clear performance expectations that are aligned with desired business results.
- Holds employees accountable for clearly defined key performance indicators (KPI) objectives and behaviors.
- Evaluate performance over a period of time while looking to identify potential behavioral issues.
- Allows an outlet to provide meaningful feedback, celebrate successes, and identify areas of improvement.
- Identifies core strengths and weaknesses.
- Set individual S.M.A.R.T. goals for your employees.
- Increases employee participation and involvement and elevates feelings of competency.
- Raises creativity, innovation, excellent employee morale, and satisfaction with the work.
- No matter how well-defined the dimensions for appraising employee performance on quantitative goals are, judgments on performance are usually subjective and impressionistic.
- Employee appraisals provide inadequate information about the subtleties of performance; managers using them to compare employees to determine salary increases often make arbitrary judgments.
Surprising employee stats.
- Companies that implement regular employee appraisals have turnover rates that are 14.9% lower than for employees who receive no feedback.
- One in five employees is not confident their manager will provide regular, constructive feedback.
- 24% of workers will leave their jobs if they have managers who provide inadequate performance feedback.
- Teams led by managers who focus on their weaknesses are 26% less likely to be engaged.
- 69% of employees say they would work harder if they felt their efforts were better recognized.
- 21.5% of employees who don’t feel recognized when they do great work have interviewed for a job in the last three months, compared to 12.4% who think they are identified.
- 24% of employees who felt they had not received recognition from their direct supervisor in the past two weeks had recently interviewed for another position, compared to just 13% who had received recognition.
- 92% of respondents agreed with the assertion that “negative (redirecting) feedback if delivered appropriately, is effective at improving performance.”
- Only 8% of companies believe their performance management process is highly effective in driving business value, while 58% say it’s not an effective use of time;
- 63% of Gen Z said they want to hear timely, constructive performance feedback throughout the year.
- 68% of employees who receive accurate and consistent feedback feel fulfilled.
- On a scale of 1-10, managers who gave the right amount of feedback earned an average score of 8.6 from workers.