Communication Employee Retention Morale

Why You Should Never Skip the Dreaded Annual Review

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You’ve probably spent a lot of time this year doing online recruitment, hiring and retaining good employees. The last thing you want to do is lose any good employees because you dread conducting annual reviews.

Putting Online Recruitment and Hiring To Work

Chances are you have a good team put in place, but maybe you don’t. Any way you look at it, once you have gone through the online recruitment process and hired a team, you need to train them and let them know how they’re doing at work.

Many employees look forward to their annual review for one simple reason: it is a natural path towards receiving a raise.

Since the economy has been in a downturn due to COVID-19, many employers have canceled annual reviews, so they don’t have to pay their employees more and avoid any discussion of pay increases.

This is not a good practice for many reasons.

First, besides the money issues, the annual review is a key time to give much-needed feedback to employees.

If there are problems to be addressed or constructive criticism to be given, the year-end review is an excellent time to discuss these awkward subjects.

Employees thrive on positive feedback as well, and if it’s not given, they are left wondering if their performance is measuring up. The old adage by Mark Twain that reads, “I could live two months on a good compliment,” is true, especially for employees.

Second, if there is no review, you are opening up the door to feelings of resentment from employees, especially if reviews have been a part of the business in the past.

If you don’t have the money to give raises, then explain that to the employee and let them decide what they should do or if they need to find another job.

Having an honest, frank discussion about your business’s state will be appreciated much more than beating around the bush and not opening up.

Finally, reviews are crucial to review goals and what has or has not been accomplished in the past year. It’s a great measuring tool to see if you and your employees are on the same page, performing their job duties and on track for the coming year.

Don’t miss out on these crucial reviews – they are beneficial for everyone and improve morale and employee performance.

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