No one really enjoys the performance review process. Not the reviewer or the reviewee. In fact, many HR professionals will also admit to not particularly enjoying the process for a number of reasons of their own (if they are being totally honest). But what’s worse than not liking the process is not having one – and worse yet, not having one that clearly ties performance to pay. You might as well hand over a fistful of dollars and wave “goodbye”. By not having an effective performance review process, several things are sure to occur:
- The employee will leave the review without a true sense of what they did good, bad or….ugly.
- The employer will waste dollars on non performers, surely discouraging those that have performed well.
- The bottom line of the company will suffer because there is no true accountability.
Whatever the reason, not setting up an effective process to review your employees and quantify the process to determine important factors, such as merits and bonuses, and not carrying it out consistently will consistently cost a company valuable (and unrecoverable) dollars. This, then, turns into a cycle of rewarding poor performers, spending money that can’t be recouped, and not having dollars to give to high performers. And then what happens? You will likely be replacing staff since they can’t make heads or tails of how they contribute to company goals or how they can affect their financial success, which (by the way) costs the company more money.
What do you do as a business to combat this problem? Engage an HR expert to review your current process, identify areas that need improvement and create an effective and consistent review process that is scalable and adaptable to your company and its needs.
2016 is more than half over. Not having a process in place now for year end reviews, salary increases and bonuses, may end up costing you dollars that you don’t want (or need) to spend. Don’t go into 2017 regretting having given away money that employees didn’t deserve.
Are you a small to mid-sized business in need of assistance with developing an effective process for performance reviews that will save you money? Tired of giving away dollars and wondering how to stop the cycle?
Contact HRPro4You, LLC today to have your process reviewed and let us help you #embracehr.
