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According to Forbes: Conducting poor performance reviews is one of the top ten reasons large companies lose their best talent!

by , 11 June 2014
You probably know that some companies are guilty of conducting poor performance reviews. What you may not know is that poor performance reviews can bring a company to its knees.

That's right.

Forbes.com puts conducting poor performance reviews in its top ten list of why large companies lose their top talent.

Read on to find out more about this and what you can do to ensure you DON'T conduct poor performance appraisals.

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Losing your best talent? Conducting poor performance reviews may be to blame

Many companies don't do a very effective job at annual performance reviews. Or, if they have them, they rush through them by quickly filling in a form and sending it to HR, writes Eric Jackson on Forbes.com. As a result, their talented employees leave.

Jackson says the impression this leaves with the employee is that 'my boss — and, therefore, the company — isn't really interested in my long-term future here.' As a result of this, talented employees leave.

Poor performance reviews also mean you aren't discussing career development with your employees.

According to Jackson, most employees don't know what they'll be doing in five years. However, everyone wants to have a discussion with you about their future. And this represents a huge opportunity for you and your organisation if you bring it up.

'If your best people know that you think there's a path for them going forward, they'll be more likely to hang around,' says Jackson.

So how do you ensure you aren't conducting poor performance reviews?

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Use these tips to ensure your performance appraisals are a success

In this article, experts behind the Practical Guide to Human Resources Management give you a performance appraisal checklist you can use to conduct performance reviews successfully:

They say you need to:

  • Prepare thoroughly for the appraisal;

  • Review all relevant documents such as job descriptions, goals and objectives and previous appraisals;

  • Hold pre-meetings to brief your employees and to help them prepare for their appraisal;

  • Start the appraisal meeting by focusing on areas of agreement;

  • Allow your employee to explain how he reached his rating for each goal before you justify your own rating;

  • Keep an open mind and assess new, valid evidence that you might have missed;

  • Share specific feedback in a positive way that validates the ratings you've made, without eroding your employee's self-confidence;

  • Keep your employee motivated by exploring developmental opportunities and career development aspirations at the end of the appraisal process. Try and find opportunities within your company to satisfy your employee's need for personal growth; and

  • File performance appraisal documents in the employee's personnel file.

It's really simple: Conducting poor performance appraisals means you'll lose your best talent. Don't fall into that trap.

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