Performance review

Alternatives to the Annual Performance Review [Infographic]

Employees crave feedback. The right insights can help us to improve productivity, establish paths for professional and personal growth, and even become better at what we do.

According to statistics, companies that implement a regular performance review have 14.9 percent lower turnover rates than businesses that don’t offer constructive comments.

The right review solution can motivate employees, help them to overcome difficulties in their performance and lead to better profitability for the business overall. Unfortunately, some company executives attempt to organize all their thoughts into a single annual event that’s relied upon to fix a range of problems. This is the basis of the dreaded annual performance review.

The annual performance review is an outdated approach to team management, and yet companies across the globe continue to use it. Despite the inefficiency, time-consuming nature and complexity of performance reviews, many organizations have yet to look elsewhere for a method to get better results from their staff.

Unfortunately, giving feedback is complicated, and a performance review that’s too harsh or negative can easily have a disastrous impact on your team. In fact, studies show that around 30 percent of performance reviews lead to lower employee performance and engagement. So, what’s the answer?

The following infographic contains everything you need to know about choosing a new alternative to the annual performance review. Each of these innovative solutions eliminates the time consuming, morale draining and motivation-damaging aspects of the performance review, and focuses on actionable suggestions for success.

Alternatives to the annual performance review

Performance review

Previous Article

Female Entrepreneur Association Founder Shares Tips for Serving an Audience [Book Excerpt]

Next Article

Harness the Power of Crowdsourcing to Improve Your Business

Related Posts
Read More

Entrepreneurial Spirit Drives a Mission to Connect People With Popongo

America truly is the land of opportunity, especially to people who grow up in third world countries and fight adversity every day while seeking to create a better life for themselves and their loved ones. Creating Popongo was one such opportunity, a chance to challenge myself as well as fill a need and connect  people....
Read More

4 Reasons to Consider Outsourcing Your Sales Support

Sales representatives are responsible for boosting the company’s profits, and it can be a daunting task. Because of this, sales support takes some of this burden off their backs. Having sales support may not directly improve sales, but it has a positive impact on operations. Additionally, representatives can concentrate on improving their performance. The roles...
Read More

Entrepreneurs: How to Focus Ruthlessly and Win in 2022

New and aspiring entrepreneurs often fall victim to impatience and imperfection. When something’s not working perfectly to their standards (or worse, fails), they take it personally and don’t know how to move on to better iterations after the setback. But that’s what startup life is all about. To win, you have to learn how to...
StartupNation Radio feature
Read More

StartupNation Radio with Shay Berman on Building a Business From Scratch

On this week’s episode of StartupNation Radio, Jeff Sloan talks with Digital Resource’s Shay Berman about how he built his company from the ground up and the importance of hiring the right people. Tune in to the StartupNation Radio show with Berman to learn about his journey: Shay Berman, the founder and president of Digital...