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- Corporations are considering reinstating annual performance reviews that were put on hold during the pandemic.
- Half of workers report annual or semi-annuals being their only form of workplace feedback, with 63% desiring more immediate review.
- HR leaders Lana Peters and Cheryl DeSantis share their insight and expectations on the future of performance reviews.
As companies like Goldman Sachs and JPMorgan consider reinstating annual performance reviews that were put on the backburner during the pandemic, some worry this could hint at layoffs.
Despite the potential return of these reviews and what workforce reductions may come from it, businesses say “there should be little mystery as to where workers stand when it comes to their performance,” the Observer reported.
However, about half of workers report annual or semi-annual reviews are their only feedback, with 8% saying they never receive feedback, according to a new Eagle Hill Consulting survey.
In fact, 63% of workers say they want more immediate “in the moment” work performance feedback, the research found. This appears to be increasingly true for younger workers, age 18-34, of which 74% desire more immediate feedback.
In a Q&A with Allwork.Space, Lana Peters, VP of the Americas at HiBob, a modern human resources tech platform for modern companies, she provided her insight on the scope and role of performance views.
Allwork.Space: Did performance reviews disappear during the pandemic?
Lana Peters: Performance reviews did not disappear during the pandemic, but rather, we saw companies sticking to their pre-pandemic schedules or increasing the frequency of reviews as a way to give workers the constructive feedback and direction they desire. It’s important to note that all performance reviews are not related to an annual review or a discussion of title or salary, but are often used as check-ins to help employees remain connected and feel encouraged.
Allwork.Space: Are these reviews valuable at all? How do they benefit managers?
Lana Peters: The value of performance reviews cannot be overstated. Performance reviews give the open floor to employees to ask questions, express concerns, and share thoughts on how they want to grow. At the same time, it provides an opportunity for managers to offer constructive criticism and share ideas of areas for improvement as needed.
Allwork.Space: Are performance reviews an excuse for firing?
Lana Peters: Performance reviews are not an excuse for firing. They are an opportunity for transparency and subsequent improvement. If performance reviews are done regularly and in a consistent format, that can be the building block to a long-lasting professional relationship between an organization and employee equally invested in their future.
Cheryl DeSantis, the Chief People and Diversity Officer at SmileDirectClub, weighed in and also offered her expertise on the questions surrounding performance reviews in the future of work:
Allwork.Space: Did performance reviews disappear during the pandemic?
Cheryl DeSantis: At SmileDirectClub, we consider performance reviews to be imperative to the team member journey. These annual evaluations provide our team members and leaders the opportunity to review their goals (both personal and professional), how they are tracking against these goals, and how they can continue to create a growing and thriving career with us.
The pandemic did not take these away, but rather we had to be flexible and agile with how we conducted our reviews in our new remote environment. We had to ensure that we were being intentional about feedback. In a remote world, you lose the ability to just share notes in the hallways as one might in more informal coaching scenarios. We have learned that more frequent connection points are key. As such, we’ve evolved our review process and have more structure around more frequent check-ins on a quarterly basis to support leaders and team members in their discussions.
Allwork.Space: Are these reviews valuable at all? How do they benefit managers?
Cheryl DeSantis: Performance reviews are valuable because they provide a consistent opportunity for team members and leaders to align on growth and development areas to ensure a successful career experience. We want to foster a culture of recognition and learning, and performance reviews allow us moments to focus on these important elements of our culture. We also host calibrations during this process so that leaders have an opportunity to collect feedback from key stakeholders. This creates an opportunity to give well-rounded feedback with the input of many different stakeholders, thus making the review and conversation more valuable to the team member.
Allwork.Space: Are performance reviews an excuse for firing?
Cheryl DeSantis: Performance reviews do not take away or negate the need for immediate and definitive action. If a team member is not meeting a goal or is struggling to contribute, leaders should share feedback in real-time to support the team member in getting back on the right path. Our goal with performance reviews is to help guide and coach our team members so they have the opportunity to course correct and succeed rather than to use it as an excuse for firing.
