From your experience, what advice can you share with others on how to effectively conduct a performance review and set expectations for the new fiscal year with a direct report?
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VP Talent, Learning & Organisational Development in Manufacturinga year ago
Before you dive in goal setting, make sure people know what the business strategy and priorities are for next year and that it is clear for them what their role will and can be to achieve results and contribute to the success. Then you discuss together what their individual objectives can be as well as what you will be striving for as a team. Constant monitoring, providing feedback, check-in moments and support their success and development will help reach good year end discussions. For me the year end discussion is more a 'how did you think this year went and what you want to change and take on next year'. Also ask feedback as their manager on where they feel you did support well or what has been missing. Again, don't wait until year end to ask these questions but make sure you do ask them at year end to start thinking on next year's mutual expectations.
Then, throughout the year, we jointly monitor, review and adjust to achieve meaningful progress. As we move towards the year-end review ... in theory ... there are no surprises on either side of the performance review process.
As part of the year-end review process, I will include a section along the lines of "Throughout the period I have observed ...". This approach then allow me to include an action point of "Over the coming reporting period xxx would benefit from placing a greater focus on ...".
Then, I include this observation, which we have recorded as an agreed action item, as a SMART Objective for the next reporting period.