Performance reviews play a significant role in helping employees grow in their careers. The performance review is an opportunity for both the employee and the employer to assess performance, create a development plan guided by goals and measure success.
Consider this, a good performance review can align employees’ development and growth with the business which benefits both parties. In addition, performance reviews result in more productive and motivated employees because the employees understand their role and how their contributions will be measured.
Writing and conducting an effective performance review is no easy task. ZM Ventures recommends using the self assessments and peer 360 reviews as the cornerstones of the performance review.
Using the Self Assessment & 360 Peer Review to Measure Performance
The self-assessment and the 360 peer review contain many of the functions and criteria by which one can measure performance. When properly crafted they can provide the manager with a clear guide by which performance can be measured.
Some types of performance can also be measured quantitatively (e.g., the number of sales per designated period such as a week or month). In this method, productivity is measured by output over a certain period.
Other performance standards can be more related to quality-oriented standards, such as customer satisfaction. Managers often measure this aspect of performance by customer surveys.
Still other standards of performance are more intangible, but can be equally important. These measures include: leadership, organization, and initiative.
If you have any questions regarding your performance review program or would like your performance management procedures revamped, reach out now to ZM Ventures, Inc. – www.zmventures.com.