It’s that time of year, are you prepared for appraisals and end of year reviews? It might sound like a nice-to-do matter, but actually it’s vital and incredibly useful to the business. Read below for risks and benefits;
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Benefits of end-of-year reviews;
🔹employees are aware of expectations, therefore, more likely to achieve them
🔹it is an opportunity to resolve gaps in performance before these become a disciplinary matter
🔹it opens up communication between manager and subordinate this increases trust and loyalty
🔹it’s a opportunity to quickly identity poor performance
🔹if done correctly, it can save the business time and money
🔹after given clear KPIs at the end of the year, employees can come into the new year motivated as they see clear paths for development
🔹an opportunity to discuss how the past year has progressed with employee feeling valued for their input/feedback
Risks of not conducting reviews;
🔹under-performers can go unnoticed costing the business time and money with detrimental impacts to team morale
🔹no rapport building between management and teams, therefore, expectations will not always be fulfilled
🔹employees can argue incapabilities are due to little care and attention from line managers, leaving the business vulnerable to conflict matters
🔹no real insight when it comes to promotions and pay rises. Decisions on these should use performance data from the end of year reviews
🔹employees come into the new year unsure of expectations and value, which can result in high absence and sickness levels (malingering).
The worst thing a company can do is conduct end of year reviews to tick the box. The findings & data needs to be considered to inform next years strategy. Too much work? Well, it has high return so worth it, but also, HR Habitat can lead your entire HR department, all inclusive services, on less than minimum wage!
What are you doing if not picking up the phone to us now?
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Founder of HR Habitat, award winner of "Best HR & Employment Law Consultancy, 2024" title. As featured in BBC Oline, BBC Asian Network Radio, Telegraph & more.
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