44% of Employers Providing More Feedback via Formalized Reviews Than Ever Before
Last month’s Performance Review flash survey conducted by human resourcing outsourcing and consulting firm OperationsInc (www.OperationsInc.com) has found that 44 percent of area businesses are providing more feedback and communication to employees via formalized performance reviews than ever before.
“In recent years there has been a trend towards increasing the frequency of reviews,” stated OperationsInc CEO David Lewis. “As millennials continue to push for ongoing feedback, there has been a general shift towards an increase in formally scheduled communication between manager and employee.”
But while 81 percent of businesses polled conduct formal performance reviews (with 22 percent of these organizations conducting reviews twice annually), only 46 percent of employers are training managers on how to complete and deliver an employee appraisal.
“It is great to see so many employers embracing performance reviews as a critical piece of performance management, but without training on how to conduct these appraisals, the impact and the benefits may be lessened or lost entirely,” Lewis added.
ADDITIONAL KEY SURVEY FINDINGS:
- 3% of businesses surveyed do not conduct any type of performance reviews.
- 55% of companies surveyed conduct performance reviews on an annual basis.
- No company surveyed is offering less feedback and communication via performance appraisals than they have in prior years.
- 76% of companies ask employees to complete a self-assessment as part of the review cycle.
OperationsInc and its team of 60 professionals provide HR related support for a base of 1,300 clients, including Performance Management Training Services.
Please click HERE for full survey results.
Founded by CEO David Lewis in 2001, OperationsInc specializes in HR solutions for businesses of all sizes and across all industries. OperationsInc’s portfolio of offerings includes Human Resources Outsourcing, HR Consulting, Talent Acquisition Services, Internship Program Development & Design, PEO Exit Services, Compensation Consulting Services, Organizational Development Services, Affordable Care Act Reporting & Consulting Services, Benefits Administration, Exit Interview Services, Payroll Administration, and Management and Staff Training.
OperationsInc is located at 535 Connecticut Avenue, Second Floor, Norwalk, CT 06854 and can be reached at (203) 322-0538 or info@OperationsInc.com.