According to the Washington Post, in an effort to streamline what can become a laborious, negative, and in many ways ineffective and inefficient, performance review process, Deloitte, an international HR consulting firm, is getting away from the long supervisory and peer-reviewed performance evaluation processes.
Now there are four simple questions:
- Given what I know of this person’s performance, and if it were my money, I would award this person the highest possible compensation increase and bonus.
- Given what I know of this person’s performance, I would always want him or her on my team.
- This person is at risk for low performance.
- This person is ready for promotion today.
I think that is an innate part of our normal process for determining a team members value within the practice. By nature of small business too, it is easier to identify the leaders and high-performers and reward them. We usually use that very criteria to determine raises.
However, true high performance and commitment takes leadership.
Unfortunately, we often also spend a disproportionate amount of time trying to “fix” and inspire the low performers. Studies show that as much as 10% of your workforce is actively looking for another job, 10% are loyal and committed, and 80% think about alternatives at least once a day.
With these figures in mind, our biggest “return on investment” in time and energy is cultivating and inspiring the 80% majority and equipping the 10% of the high performers.
We often use a “three step” approach to the evaluation process to help ensure a positive and productive evaluation process:
- What was your biggest accomplishment for the good of the practice and team last year?
- What are your goals heading forward?
- What measurable changes will you make moving forward to help the team?