Most of the organizations are still considering annual performance reviews as a part of their performance management systems even today. However, this concept of getting feedback annually or even quarterly is not going down well with most of the millennials. The recent surveys are proving the point that these traditional employee performance review system is giving more of the negative impact as of the constructive feedback. The reviews from millennials prove that the companies should consider the radical change in the process of reviews and give feedback to the employees in the organization. This is extremely important to do for all the companies in order to stay in the competitive market and retain the best of the employees and millennial workforce. Most of the major companies have already transformed themselves from the employee performance reviews to performance evaluation system that is preferred by the Millennials as well.
There are many reasons that millennials think the employee performance reviews suck that you need to know in order to be able to make the required changes in the structure of your performance management systems.
It undermines their confidence: Taking feedback from the supervisors don’t go well with everyone in the organization. Recent research shows that when the millennials are contacted to get their views on the performance reviews, they think that getting feedback from the supervisors make them feel that they are not capable of doing anything right. It takes them to feel ‘in the dark’. It directly impacts negatively on the millennial’s professional growth and ultimately causing them to leave their job.
Infrequent Review Meetings: In most of the cases, organizations don’t stick to the timelines to conduct the employee performance reviews of the employees. When such an in frequency prevails, the employees lose the trust and leads to anxiety among them. Also, more than 50% of the millennials feel that their reporting managers are unprepared when sit for giving the feedback. The facts and figures should be clear for the employees as well as the supervisors which don’t happen in most of the cases.
Annual Performance system work negatively: We are still working on the model of annual performance reviews wherein it becomes next to impossible to talk about each and every task and achievement the employees work for in the past one year. Improper planning of the tasks, assignments and their reviews make them feel unimportant that leads to the negative outcome for the organization. And the employees react to such negativity by looking out for new jobs, complaining to the co-workers spreading further negativity, cursing the company and management, or even by crying. In either of the situation, it is a negative impact on the employee retention.
The matter of the fact is that the organizations have to conduct the performance reviews irrespective of the likes and dislikes of their millennials. Know what exactly they are looking out for during the performance reviews:
- They look out for more specific feedback. It should be related to the assignments they are working on specifically mentioning the points of acceptance or improvements or rejections.
- The reviews should be in the form of an open dialogue because the millennials feel it very defending when they don’t get any chance to open up about their employee performance or their reporting manager’s performance.
- Feedback process should be regular because most of the employees think that regular feedback for every project will reduce the requirement of performance reviews at particular intervals.
- The feedback process should also be fair and unbiased because most of the employees think it as otherwise.