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More Than Half Of All Employees See Their Review As Inaccurate
How many of your workers believe that their annual employee evaluations and reviews
aren’t accurate? The number is probably much higher than you think.
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You might say, “Well, they’re entitled to their opinion.” You shouldn’t brush off this statistic, though – it represents a large number of workers who are unhappy with the current assessment process. Read on to learn why this is a serious problem, and what you can do about it.
The Silent Epidemic of Inaccurate Employee Reviews
In the summer of 2013, the workforce recognition solution provider Globoforce released its semi-annual survey about how employees feel about various workplace-related issues. This study focused on employee perceptions of the assessment process.
A little more than half of the employees surveyed saw their reviews as inaccurate. Another 63% felt as though these evaluations weren’t a true indicator of their performance. Their views have a great deal to do with who delivers the assessment. Forty percent of those surveyed said that evaluations represented one opinion – that of their boss.
Even if you don’t see the high number of employees who find their reviews to be inaccurate as problematic, you should be sobered by their response to an erroneous assessment. Workers who didn’t believe their evaluations reflected the reality of their performance were twice as likely to look for a new job.
Employee Turnover: The Hidden Costs
Managers can’t afford to be laissez-faire about employee turnover. Whenever someone leaves a company, it costs the business money and valuable time.
Replacing an employee means that you have to advertise for the vacant position. Someone has to read through the resumes and interview candidates, which takes that person away from his or her other tasks. Training and supervising a new hire also means that whoever takes responsibility for the new hire can’t get his or her work done.
A Cheaper Alternative: Fix a Broken Review System
Don’t let good employees walk out the door. Instead, work on improving the assessment process so that it’s accurate.
What can you do to make evaluations reflect reality? Globoforce’s survey respondents have the answer. Eighty percent of those surveyed believe crowdsourced feedback is more accurate than reviews from their boss. Many companies have already implemented peer assessments, and the results are clear.
Eighty-eight percent of employees who receive reviews from their coworkers have high levels of job satisfaction, compared to 67% of employees who only receive feedback from their boss.
Grapevine Evaluations: Improving the Employee Assessment Process
Do you want to make your performance review process better in order to reduce costly turnover? Contact Grapevine Evaluations today. Grapevine Evaluations are trusted by such companies as Pandora, Macy’s, and Thomson Reuters.
Click here to request a free demo.
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