Assessing performance and performance reviews
Fri Jan 17, 2014 12:56 PM
Performance assessment can either be a vital tool for development or sadly overlooked and underused. SilverDoor’s HR & Recruitment Manager Danielle Mahoney tells us how they approach the oft dreaded performance review
At SilverDoor we strongly believe in promoting internally and for this reason we approach assessing performance by monitoring behaviour continually and frequently.
The bonus plan
We assess performance with a monthly bonus scheme consisting of a performance and an attendance bonus. The attendance bonus is simple; if the individual attends work every day and on time they will receive it. The performance bonus is an agreed list of achievable targets, featuring the key responsibilities of their job. Individuals mark themselves against each target giving themselves full marks if they believe they have achieved this target. Managers then mark the same list of targets and will provide a percentage. This is the percentage of the total performance bonus staff will receive.
We believe our bonus plan allows managers to monitor behaviour continually and frequently and also enables individuals to assess their own performance for personal development. The targets are achievable, as we want our staff to achieve 100% and so we reward them when they do.
Assessing performance can be intuitive; it doesn’t have to be regimented on a quarterly or six month basis. Managers work alongside their team and therefore monitor behaviour on a day to day basis. Our placement students have an informal meeting with the HR & Recruitment Manager after their first month to discuss their experience so far. Whilst we do hold a meeting after probation periods to review performance, we think it’s more productive to have meetings with staff when they need it.
Clear promotion structure
We have a clear promotion structure and for each role there is a tick list that has to be completed in order to progress to the next level. Providing clear defined targets motivates employees to over- achieve and help them feel that there’s a career path to follow.
Performance reviews can sometimes be daunting for employees and something they dread. If their employer ‘saves up’ a number of negatives and unleashes them on an annual basis, how can this be good for anyone? By frequently monitoring behaviour issues can be ironed out quickly so they don’t progress into problems more difficult to undo. Whilst continuous monitoring highlights development areas, it’s just as important to reward strong performance.