Oftentimes, quarterly reviews are overlooked and labeled insignificant, when in fact, recent studies show employees to be 3x more engaged when they receive frequent feedback. Quarterly reviews, when delivered effectively, are extremely informative, providing clear insight into the direction your company is moving and allowing you to adequately measure success. In this blog, we will unveil tips for hosting a successful quarterly review and how it will benefit your company.
What is a quarterly review and how will it benefit my company?
A quarterly review is a one-on-one meeting between employee and employer, held four times a year, either in person or virtually, depending on employment location. It provides an opportunity to discuss the previous 3 months as well as set goals for the following 3 months. A quarterly review is a two-way conversation where an employer can offer praise for a job well done as well as improvements to be made moving forward. Additionally, it offers employees a safe space to disclose challenges they are facing and seek direction for growth.
Offering a quarterly review lets your employees know they are being heard and their performance directly reflects the company. A review is an effective way to intercept burnout, improve employee productivity and allow you to set solid timelines for success. Recent struggles or successes can overshadow everything else an employee did throughout the year and skew an annual review. Where a quarterly review occurs more frequently, establishing better recall for both employee and employer. Author, Terry Pratchett said, “If you don’t know where you are, then you don’t know where you’re going. And if you don’t know where you’re going, you’re probably going wrong.”
How can I hold a successful quarterly review?
A successful quarterly review can be achieved with a few simple steps:
Upon scheduling the review, ask employees to come prepared with 3 things they feel they did well, 2 things they could improve on, and 1 shoutout to another employee who helped them in the quarter. The employer should mirror this list offering the same points from their perspective. This will help the review to move more organically and refrain from the conversation feeling forced. It offers key points to address, keeping the meeting intentional and productive.
Reflect on past Reviews:
Were the goals set in the previous review met, why or why not? What obstacles might have been in the way of the employee reaching these goals and can this be addressed moving forward? Did the employee prosper, implying they could be tasked with greater goals for their future? Addressing their past performance will allow you to set a clear path with goals to be met for the next review.
Set clear goals for the future:
Considering their past performance, the quarterly review is the perfect time to set goals for the future. Offering a change of pace where needed and continued success for your company. All questions, comments, or concerns should be addressed for a clean slate moving forward and eliminating confusion regarding employee direction.
Employees and employers want to be heard. A quarterly review will offer an effective way to periodically interject in your employee’s performance offering praise or correction. It will provide insight into the direction your company is moving, allowing for increased productivity and improved workplace culture.
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