TEC

How Often Should Managers Schedule Performance Reviews?

Performance reviews are a vital part of monitoring employee behavior and justifying changes in compensation—yet because planning and executing company-wide evaluations is difficult and time-consuming, many CEOs try to wait as long as possible between performance reviews.

Although company protocol may call for an annual or biannual compensation review, employee feedback should not wait for these “official” meetings. Offering praise or correction immediately after a notable action occurs will keep underperforming employees from becoming complacent and will reassure high achievers that their efforts are continually noticed and appreciated.

To find out what evaluative approaches are taken by CEOs of other, similarly-sized companies, visit TEC online or call us at (262) 347-3677. We can help you join one of our confidential professional development groups in Wisconsin or Michigan, where you can speak with executives in non-competitive industries and receive specific advice from an experienced TEC Chair.

The Relationship Between Company Culture and Employee Turnover

Every society has its own culture—even a group as small as a single company or division. This corporate culture is comprised of the attitudes given off by managers and fostered among employees by various actions and processes. Unfortunately, when executives fail to take charge of a company’s culture, it can devolve into a working environment that discourages innovation and productivity. This occurs when underperforming employees are accommodated with a lighter and easier workload, while star performers are unacknowledged and given more difficult tasks without corresponding compensation. Rather than allowing resentment to build in such a way, take care to both recognize achievements that exceed expectations and respond effectively to poor performers, whether by transferring them to a position better suited to their abilities or taking disciplinary action.

For additional leadership techniques as well as specific advice from a seasoned CEO advisor, contact TEC by calling (262) 347-3677. We offer confidential professional development services to CEOs within the Michigan and Wisconsin area.

Making Performance Reviews Relevant for Your Employees

Employees and executives alike tend to face performance reviews with dread, treating them as a pointless chore. Unfortunately, this defeats the purpose of periodic reviews, which can be a wonderful tool for enhancing employee engagement. Show your employees that their performance matters to you by using the following approaches in your review process:

Have a Clear Agenda Preparing ahead of time will make the performance reviews run more smoothly and show your employees that there is a clear purpose behind these meetings. Create a standard agenda for the reviews, and fill it with detailed notes on each employee’s progress. This approach prevents meetings from running over schedule and forces you to prioritize the points that matter most—which will prevent employees from being bombarded with more information than they can process.

Listen to the Employee Because administering a performance review involves collaboration between you and the employee, it is important that you include time for employee responses after each discussion point. Working with your employee to understand the reasons behind past performance and create a feasible plan for the future will be more productive and result in better morale than ignoring his or her concerns. Instead of simply dismissing the employee’s words with a standard phrase such as “I’ll take it under consideration,” ask questions and take notes—this will provide you with a clear picture of your workers’ challenges and successes.

Be Sure to Follow Up An annual performance review will mean almost nothing to an employee if his or her progress is not monitored or commented on. Whether you choose to hold periodic one-on-one meetings, offer weekly feedback, or incentivize sticking to the plan, your employees need to understand how performance reviews reflect their perpetual actions.

If you are interested in further developing your leadership approach, contact TEC of Wisconsin and Michigan by calling (262) 347-3677. With semiannual group meetings and individual leadership coaching sessions, we can help you guide your company to success.

How Companies Are Using Social Media in Recruiting

While a thorough interview process can help you find hardworking employees who share your company’s values, one of the best ways to determine the true demeanor of a job candidate is by seeking out his or her social media profiles. Based on statuses, photos, and comments posted on platforms such as Facebook and Twitter, you can determine whether a potential hire engages in illegal activity, speaks poorly about a former employer, has a poor grasp of written English, or displays prejudiced behavior. Watch this engaging video for statistics regarding how companies use social media to screen potential employees.

Discuss your company’s recruitment practices and the role that social media plays with other CEOs by joining TEC. Learn more about our executive coaching and CEO roundtables by calling (262) 347-3677.

Essential Tips for Managing a Virtual Team

Giving your employees the option of working from home can increase their productivity and improve morale—as long as they are properly managed. Watch this video to learn some important considerations for overseeing remote workers.

One valuable tool for fostering communication among employees is a reliable and intuitive chat program. Encouraging the use of such a program has the added bonus of ensuring that employees are working and available without causing them to feel as if you are keeping tabs on them. Another way to promote a positive and connected environment is to schedule times for employees to travel to the office and meet in person. The ability to match faces and mannerisms to online personalities will help your employees gain a better understanding of their team.

If you are concerned about the feasibility of a telecommuting option for employees, discuss the situation with fellow CEOs at a local TEC meeting. Call (262) 347-3677 to learn how you can gain valuable advice at our executive coaching workshops.