Looks like performance reviews have lost their charm among professionals today.
In fact, a survey from Bamboo HR found that no matter how the respondents are segmented, very few of them prefer to be given feedback via a scheduled performance review.
Only 4% of all employees felt that the best way to motivate and engage employees is through performance reviews.
Instead, they prefer to be motivated through, open, informal conversations (24%), getting raises (18%), and one-on-ones conversations geared toward career path (17%),
Managers listening to and using staff ideas (15%) and employee recognition (13%) were also listed as ways through which employees can be encouraged.
Despite such critical perceptions of performance reviews, most organisations are still conducting them.
The survey also found that only 58% of the current workforce participates in performance reviews. Furthermore, of those who participated, only 89% found it valuable (38%) or very valuable (51% to their organisation.
Interestingly, while 70% of HR feel that performance reviews felt they are very valuable, only 58% of management (non-HR) and 34% of non-management feel the same way.
The survey also shed light into the prevalence of a gender gap in the performance review process.
When asking employees for input in improving performance reviews, significantly more men are asked than women (73% vs 59%). Men were also found to be more honest in performance reviews than women (57% vs 42%).
This might be because men are more likely to trust that their organisations will keep their performance review feedback anonymous than women (73% vs 53%).