Could You Create Higher Job Satisfaction and Higher Retention by Getting Rid of the Annual Review?

We’re not saying getting rid of the performance review but maybe it’s time to rethink your performance review strategy. Have you ever considered doing performance reviews that are shorter and more frequent? Employees have reported having higher job satisfaction when they are praised and given clear direction. And we all know that a higher job satisfaction leads to a better retention rate.

Annual job reviews are tedious and often dreaded by both employee and managers. Why not consider giving feedback more frequently to acknowledge concerns and areas of excellence? This method gives your employees short term goals to accomplish and helps them align with the company vision and mission throughout the year. Keeping these lines of communications open is critical for several reasons:

  1. Short term, attainable goals help keep employees motivated and focused
  2. Positive feedback is good for office moral, and generates motivation and enthusiasm
  3. You can coach employees to take small steps for improvement throughout the year that lead to big changes
  4. Strong relationships can be built between you and your employees
  5. You are able to clarify expectations and more easily track progress

Annual-Job-ReviewEmployees typically react more positively to coaching versus behavioral correction. It’s all about the approach and sometimes an annual review can be very intimidating. Have you considered re-evaluating your annual review process?

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