How to inspire team members to do their best work? Our Performance Review collection provides customizable slides for individual reviews, 30-60-90 evaluations, 360-degree reviews, team-wide dashboards, and team scorecards. Use these tools to improve organizational culture and bring clarity and efficiency to employee feedback.
Performance reviews are a great way for employees and managers to track their development and set plans for future success. Studies show that 94% of employees will stay with a company longer if it invests in their development. It's hard to believe one meeting can have such a big impact, but it's true. AirBnB developed a performance review system that doubled as a career development experience. The process involved three major steps: preparation, delivery, and follow-up.
The most important part in preparation is having a template. A customizable template will allow you to review exactly what you need for each employee. Most managers use the same evaluation form for specific roles to make the whole process a lot simpler. Capture the employee's accomplishments in advance, such as how many projects they've completed and the project quality. (Slide 3)
69% of employees say they would work harder if they felt recognized. A clear ratings system will help employees see areas for improvement. Ratings can be based on both technical and soft skills. The skill list here can be easily added to or removed if need be. No matter what performance metrics you choose, it's extremely important that employees understand what each rating means and that it's fair. Studies show that 85% of employees would consider quitting if they felt they received an unfair review. It's also important to prepare a clear and consistent schedule for reviews. They should be done quarterly, monthly, or even weekly. (Slides 5-6)
Gallup has found that when managers provide regular reviews throughout the year, team members are five times more likely to feel they received meaningful feedback and three times more likely to be engaged and motivated. The 30-60-90 review uses the most widely accepted approach in the corporate world for new hires. It takes the first ninety days of an employee's role and splits it into three increments. It maximizes employee impact from day one, since it aligns the new hire's near-term goals with the company's mission.
A good 30-60-90 plan outlines personal goals and breaks them down into small achievable tasks. It will also show the key success metrics that will be measured. Even for existing employees, the template provides a clear roadmap to success, and it's also helpful for quarterly evaluations. It can be used whenever you want someone to improve on something or accomplish new goals within a defined period. (Slides 10 to 12)
In a 360 degree review, you get the combined perspective of the employee, their manager, and their peers or reports all in one place. Companies such as Netflix, Microsoft, and Adobe now use a peer-based system instead of traditional one to one performance reviews. After Google switched to peer-based reviews, the percent of employees who found the feedback useful went from 49% to 75%.
It's a way to compare self reviews against observer reviews, usually six to twelve coworkers. It plots both the data from both the self and peer reviews against each other, with the point differential so you can see the difference. This can provide a much-needed reality check to employees who may be overconfident in their abilities, or who don't give themselves enough credit. (Slide 21)
A team-wide review is a great way to show appreciation for your team and their accomplishments. This slide includes a team leaderboard and all the key performance metrics, such as weekly sales and the percentage increase or decrease compared to the previous week. The line graphs below each team member are fully editable. They can be opened in Excel for a closer look. (Slide 23)
The team performance scorecard can be replicated for each department. It shows the target goals in relation to the actual results, with ratings that show whether the results are off target or not. It's a great way to see what areas need to be singled out for improvement. Individual KPIs can be weighed by importance, since some KPIs are valued more than others. (Slide 24)
Data from performance reviews can be displayed in an aggregated matrix to identify how much of the team is performing at what capacity. In this example, 24% of the team is performing highly to the best of their abilities, while 5% is talented but underperforming in relation to their abilities. (Slide 25)
When you need to set clearer expectations and goals, use the Management by Objectives, or MBO system. This slide uses the SMART goal framework to make sure that what's being measured can be quantified and achievable. The template outlines the starting objective on the left and after undergoing the framework it creates a better, clearer objective on the right side. (Slide 8)
