43% respondents prefer monthly review: Monster Poll
We recently conducted a poll on Twitter and asked: 'What according to you should be the ideal cycle for work review by the management?'
Here are some interesting insights.
A monthly work review cycle emerged as the top choice with 43% of the respondents voting in favour of it. A quarterly review (36%) was second on the list, followed by a half-yearly review (13%).
Surprisingly, the annual work review cycle that exists in most organizations came in last. With just 8% votes, it signals that most employees regard the current system as a flawed metric to measure the true value of their contribution to the company.
The preference for a shorter work review cycle is surprising, given the anxiety that appraisals are generally associated with. But the poll results seemed to indicate that employees are approaching evaluations with a mature mindset. After all, an increase in the frequency of performance reviews will mean evaluations are less likely to be subjective and unpredictable, and much more reflective of reality.
Appraisal timelines, they are a changin’
Recognising that employees need ongoing performance development, companies such as Accenture, GE, Adobe, Netflix and others are scrapping annual performance reviews. Among the Indian-origin organizations, Infosys has created a new system for performance evaluation and goal management that stresses on continuous feedback, according to a Business Standard article.
Frequent and transparent reviews are helping these organizations become more responsive, agile and meritocratic. The revamp has already started showing positive results—some companies say the robust appraisal process has led to a lower attrition rate.
Performance reviews are an indispensable part of the management process. A number of important decisions—like compensation, promotions, career goals, training needs and the need for disciplinary action—are taken during the review. However, the usefulness (or not) of the annual performance review has been a hotly debated topic for some time now. The poll makes it clear which side most employees are on!
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