Why Managers Should Hold Monthly Performance Reviews
Father Rutler, the pastor of the Church of St. Michael the Archangel in Manhattan, although he is now retired, is very influential as an advocate for the Catholic Church. And one thing that Rutler learned from his many years ruling over the Church of St. Michael’s the Archangel is that running a large parish is very similar to running a business.
He has done his share of hiring, and a few shares as well of firings, and therefore he believes strongly in the principle of a business having leaders that share frequently with their employees the vision of the company and how they are personally involved in it.
Therefore, Father Rutler believes that in business matters, managers should hold monthly performance reviews with their employees. And it’s not only good for the business itself to keep the employees accountable, but equally important, it provides vital feedback to employees about how they can focus themselves on the company’s objectives and simultaneously make themselves valuable.
What are some of the many reasons to hold performance reviews? One of the best reasons for performance reviews is to align management with employees. Often management has a significantly different view of the skills that are most valuable to the company than their employees.
Although it was fictional when the character Tom Smykowski on Office Space was asked by the efficiency experts what would you say you do here, when pushed came to shove,
Tom replied: “Well-well look. I already told you: I deal with the god damn customers so the engineers don’t have to. I have people skills; I am good at dealing with people.” Tom’s yelling proved in point that he really over inflated his value to the company.
Unfortunately, there are too many real-life examples of Tom Smykowski who feel their skills are valuable but management does not agree. By having monthly performance reviews, Tom could have either adjusted himself to the company’s vision or be let go a long time ago.
Another reason for regular performance reviews in company engagement. First, employees will work harder if they know they will be evaluated in 30 days instead of 6 months or a year. Second, performance reviews give managers the valuable feedback they need, both in new ideas and in addressing problem areas.
The third, of course, is to identify training needs and opportunities. As businesses evolve, their workers often need new skills. Although training is expensive, it is not nearly as expensive as letting go of one employee and hiring someone else. Make good of the work resources you have.
Fourth, although it may not take place this performance review or the next, as promotions become available, the best fit for a promotion becomes very evident.
Finally, if the manager acts wisely, they can use performance reviews to strengthen their relationships and increase loyalty.
There are few things more powerful than a loyal and eager workforce. Naturally, the manager will adapt their approach. Some will do a performance review every month. Others will do a review every other month. But good managers regularly provide their employees with timely reviews.