Twenty-nine percent of companies have updated their performance appraisals in the past year, according to a survey from staffing firm OfficeTeam.
Another 22% said they updated their performance appraisals one to two years ago, and 24% updated them three to four years ago.
Top changes include making the process shorter (39%) and increasing the frequency of feedback (36%). More than three in four HR managers (78%) said their company conducts formal staff appraisals at least once a year. Thirty-eight percent have these meetings twice a year or quarterly, an 11-point jump from a similar survey in 2015.
A majority of HR managers (86%) indicated they feel their organization’s review process is effective in improving employee performance. Respondents said the greatest benefit of conducting appraisals is motivating staff by focusing on achievements and goals (36%). This is followed by determining what changes and resources are required and being able to make decisions about merit increases or bonuses (19% each).
“Not everyone revels in performance reviews, but fine-tuning the process and frequency of these discussions can help managers and employees get the most out of them,” says Stephanie Naznitsky, executive director of OfficeTeam.
The survey includes responses from more than 300 HR managers at U.S. companies with 20 or more employees.