Soyou’re looking for a way to improve your employees’ productivity and boost your retention rates. Have you tried initiating a formal review process? Researchshows an effective performance review system can have a positive effect onemployee satisfaction and commitment, which means higher productivity for your business.
Onestudy found that retail sales employees were more satisfied with their jobs when a written performance review system was established.These same employees were also less likely to quit – meaning less time and money spent on hiring and training.
Why doperformance reviews have such a positive impact? They clarify expectations.
Whatwould happen if you asked each of your employees the following question: “What exactly is your job?” Would they knowhow to respond? The answer can dictate your employees’ work satisfaction.
Uncertaintyproduces anxiety. If an employee doesn’t know what is expected of them, thenthey may not be doing their job right—and that’s enough to worry even the bestof performers. The better an employeeunderstands their position in your company, the more satisfied they are withtheir work and with the company itself.
JuvodHRunderstands the positive impact of a clear performance review. JuvodHR reviewsare job specific – they’re tied directly to the employee’s job description.When you conduct a performance review using JuvodHR, your employees will knowexactly what you expect. This clarity will help your employees concentrate ontheir specific responsibilities. By being clear about what your employees needto accomplish, they will know where to apply their focus.
Themoral of the story is that performance reviews aren’t just nerve-wrackingtests—they’re powerful tools that help you build and maintain a successfulbusiness. By instituting a formal performance review system, you help youremployees better understand their position in the company, which makes them more satisfied and productive.