Take The Guesswork Out Of Peformance Assessments

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Topics: Resource Management, PM Network

Replacing a team member is an onerous process, from sifting through endless résumés to conducting interviews to on-boarding the new person.

All that time is costly: A 2011 study by Harris Interactive found that organizations risk 250 percent of an employee’s salary in turnover costs as a result of poor performancemanagement processes—including performance reviews.

The study also found that just 37 percent of employees receive useful feedback from their manager. What’s more, nearly half of human resources managers don’t think performance reviews are accurate appraisals, according to a 2012 survey by the Society for Human Resource Management.

That’s where project managers go to work. By effectively conducting formal reviews, supplemented by informal evaluations, project managers can address team members’ weaknesses, reward their good work, set future goals and implement an improvement plan—thus rendering the replacement of a team member less likely.

Of course, that’s all contingent on performance reviews implemented in a consistent and timely manner. Jihan Al Sherif, continuous improvement program manager at Bahrain Airport Company, Muharraq, Bahrain, maintains monthly one-on-one chats with team members and conducts formal performance reviews every four to six months.

“The important thing …

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