Many managers hold annual performance reviews to discuss employees' strengths and weaknesses as a primary component of their talent management strategy.
Many managers hold annual performance reviews to discuss employees' strengths and weaknesses as a primary component of their talent management strategy. However, numerous studies have revealed that workers find little value in these meetings, and analysts suggest that a more sustained strategy is needed to have a real impact on performance.
According to The Street, Kansas State University business management professor Satoris Culbertson studied the efficacy of employee performance reviews and found them wanting. Although it's important to offer workers feedback on their successes and weaknesses, the once-a-year system and heavy focus on negative aspects often fail to inspire real change in how employees go about their jobs. Forbes Magazine also recommended encouraging better performance through an emphasis on employees' strengths.
One way to give workers regular validation for their achievements is through employee reward and recognition programs. These solutions are designed to keep success at the front of team members' minds, offering them a frequent sense of how their performance stacks up and motivating them to strive for higher goals. The annual performance review can have a useful place in talent management, but it's most effective if it's used alongside other strategies that provide more regular and encouraging feedback throughout the year.