16 Jul Why Personalized Employee Development Is More Effective Than Annual Reviews
As the corporate world adjusts to a new generation of workers who value professional development opportunities and other growth factors, it is no surprise that traditional annual reviews are becoming less common. According to business researchers, about 70 percent of multinational companies are moving toward a performance management model that replaces the annual review. It seems that employees want more than a summative review of past performance at the end of the year.
With that in mind, more organizations have started to realize that providing frequent and personalized feedback to employees throughout the year is key to their personal growth and job progression. Constant check-ins, one-on-one time with management, and continuous learning opportunities are becoming the new approach to the review system.
FREQUENT FEEDBACK
Frequent feedback plays an important role in an employee’s growth within a company and throughout their career. All professionals should set goals each week and understand what they need to do every day to reach them. When an employee has to wait a whole year to discover how their strengths and weaknesses relate to their performance, it delays opportunities for improvement.
But when an employee receives proper guidance on how to be successful on a consistent basis, they have a chance to realign current behaviors. Providing frequent feedback makes employees more aware of their weaknesses before they become a habit.
ONE-ON-ONE DEVELOPMENT
One way to ensure frequent feedback is organizing one-on-one sessions with each employee. These conversations are great for setting goals, tackling challenges, and giving personalized coaching. These check-ins help employees gain a clear understanding of what is expected of them and eliminates any surprises of a bad annual review.
These one-one-one meetings show an investment in every employee’s growth, which can help professionals develop a meaningful relationship with their manager. This kind of connection only helps coaches deliver more pointed feedback that allows employees to improve faster.
CONTINUOUS LEARNING
As a manager, there is a huge difference between managing performance and developing it. Most employees want to continuously grow in their job and look to their managers for that guidance and coaching. When a manager is aware of what an employee needs to improve on from their one-on-one meetings, they can personalize the next steps for that individual.
One way to approach continuous development is through experiential learning. Productive experiential exercises might ask an employee to complete a task, demonstrate a skill, or articulate their knowledge in some other way. These activities help professionals address specific areas of weakness, give coaches a way to provide specific feedback, and serve as evidence of an employee’s progression toward their goal.
Organizations can leverage Bongo to create experiential exercises, provide personalized feedback, and manage the entire online coaching experience. To learn more about how our video assessment software facilitates online coaching, visit our website.
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