FIVE REASONS TO CHANGE HOW AND WHEN YOU SIT DOWN WITH EMPLOYEES

GONE ARE the days of the annual performance evaluation. It makes sense. Why do we wait an entire year to have a dedicated conversation about an employee’s performance? Their ongoing performance affects everything from revenue to patient satisfaction, so having meetings throughout the year seems like a good business strategy.

Neither the employee nor the employer likes performance appraisals. The employer dreads having to put together a report on how the employee is doing. The employee is nervous, not knowing what their supervisor is going to say. With everything else in the world speeding up to real time, why are we still stuck on once-a-year check-ins with our most valuable asset — employees. Here are five reasons to change how you do performance evaluations:

1 MOTIVATION

Top-performing employees can often feel demotivated that they can’t make more money for an entire year. This is not to say you need to give more of an annual raise than you have budgeted, but it means you should rethink your strategy on how you give it out. Look at taking the current raise, and dividing it into four raises to be obtained each quarter during the year.

2 COMMUNICATION

Consistent communication and direction increases employee engagement. When employees feel valued and involved, they get more productive and invested in the organization. This investment leads to all sorts of benefits, including higher sales and higher patient satisfaction. This only happens when communication is consistent and often.

3 ENGAGEMENT

Your business strategy is no longer a year-long program — it is a quarterly or a bi-annual plan revisited to see the changing environment. Your meetings with your employees should reflect this. Planning quarterly check-ins with new quarterly goals keeps the employee active and engaged.

4 TRAINING AND DEVELOPMENT

The need to educate and develop your team faster is a growing trend in all businesses. Taking the time to meet with your employees on a quarterly basis allows for the opportunity to work together to build a strong training and skill strategy that keeps pace with the moving industry and products.

5 MONEY

What do employees expect every year on their review — money! And when they have waited a year, they want more of it. Setting wage scales (see Oct. 2017 OM) and quarterly targets with set compensation raises will set the tone for what increases can be expected, while leaving you in a good position at the end of the year.

OUT WITH THE OLD

Annual performance evaluations are passé. Quarterly check-ins, with updated goals and incentives, will keep employees happy and fulfilled. Sit down, and schedule 15-minute check-in meetings with your staff every quarter. You won’t go back to the old ways anytime soon. OM

MS. CHAREST is the co-founder of 4ECPs, a business resource company for eye care professionals. 4ECPs has six divisions, including eye care jobs, marketing, social media, payments, events and training. Visit www.4ecps.com , or email trudi@4ecps.com.