The Do’s and Dont's of Benchmarking and Performance Reviews

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The Do’s and Dont's of Benchmarking and Performance Reviews

In today's team and collaborative environment, having a performance review with employees is a great communication and evaluation tool. A survey conducted by SHRM in fall of 2012 shows that 74% of companies perform reviews annually, while 21% conduct reviews semi-annually. A small percentage performs them quarterly or ongoing.  

However, with most companies conducting some type of performance review, still 4 out of 5 U.S. workers are dissatisfied with their job performance review, according to a 2009 Reuters poll. So how can you conduct a review that will be beneficial, to both you and the employee?

We spoke with Tom Ault, Director of Technical Training at ERC, about how to use benchmarking to not only improve your organization’s measurement of the quality of policies, products, programs, and strategies, but how to make the employee more happy and comfortable with the process.
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An Introduction to Benchmarking and Performance Reviews

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An Introduction to Benchmarking and Performance Reviews

In today's team and collaborative environment, having a performance review with employees is a great communication and evaluation tool. A survey conducted by SHRM in fall of 2012 shows that 74% of companies perform reviews annually, while 21% conduct reviews semi-annually. A small percentage does them quarterly or ongoing.

However, with most companies conducting some type of performance review, still 4 out of 5 U.S. workers are dissatisfied with their job performance review, according to a 2009 Reuters poll. So how can you conduct a review that will be beneficial, to both you and the employee? We took a look at how to use benchmarking to not only improve your organization’s measurement of the quality of policies, products, programs, and strategies, but how to make the employee more happy and comfortable with the process.
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How to Build Your Own Great Workplace

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At ERC, we believe that creating a great workplace is about creating an environment and culture that supports the talent your organization needs to be and stay successful. It means creating a place in which great talent want to come work and where they want to stay and build their career. It’s about enabling superior performance and eliminating the policies, practices, and norms in your workplace that hinder your top people’s success, progress, and innovation.

If this sounds like something your organization wants to achieve, here are 5 steps we recommend for creating a great workplace.

1. Commit to creating a great workplace.

Making a true commitment to be an employer of choice is the first and hardest part of creating a great workplace. It requires getting your management team on-board with their support, securing and committing resources for the initiative, and creating a vision of where you see your workplace in the next 3-5 years. It also entails meeting regularly with your managers to talk about and identify ways to enhance your workplace. You can't create a great workplace without your leadership and managers on-board, the willingness to put resources behind the effort, and on-going discussion.

2. Identify your top performers.

Great workplaces are built from great people. This requires hiring the right people from your receptionist to line employees to managers to top leadership. Rarely do organizations have all the right people. This is why it is especially important to identify who your top performers are and define what attributes top performers have at your organization. Knowing which employees are successful and why they are effective will help you hire more of those people, create a workplace that meets their needs, and weed out the wrong fits.

3. Ask employees for their feedback.

Great workplaces have feedback-rich cultures that care about, appreciate, and use employees' input, ideas, and opinions. To create and maintain a great workplace, you need to know what engages your people, specifically what would make them stay, what would make them leave, and what is important to them. In our experience, the answers to these questions (though similar) vary by organization. Whether it's conducting one-on-ones, focus group discussions, or an engagement survey, start somewhere and invite employees to share their feedback.

4. Benchmark your practices.

Data and measurement are important parts of creating a great place to work. In order to create a great workplace, you must gauge how you stack up against other employers of choice – how your total rewards package, policies, culture, and results compare to the standards set by best-in-class organizations. This not only helps your organization determine what it takes to be a great place to work, but after determining where the gaps are, you can develop strategies to help build, change, and enhance your policies and practices.

5. Evaluate your progress.

Building a great place to work is an on-going endeavor – it never ends. It will require constant attention, changes, and improvements. It will also require that you monitor and evaluate your progress regularly to make sure that you are meeting your goals in becoming a great place to work.

If your organization is progressing towards becoming a great place to work, over time it will see its investments pay off. Attracting and hiring top talent gets easier, great talent sticks around, your workforce is more engaged and productive, and your workplace’s reputation improves. The road to a great workplace is undoubtedly a path that is worth pursuing if your organization wants to secure top talent to achieve long-term success.

Additional Resources

NorthCoast 99 – 99 Best Places to Work in Northeast Ohio If your organization is interested in being recognized as a best place to work and thinks it excels at attracting and retaining top talent, begin your application today!

Benchmark Reports Interested in targeted metrics for top performers and benchmarking how your organization's practices for attracting and retaining top talent compare to others in the region? Please take a look at our benchmark reports which provide tons of information on great workplaces and top performers.

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