My older daughter Sarah came home with her report card this past Tuesday. It was the fourth of the four she received as a 2nd grader. At the end of each quarter she got a quantitative score from 1 to 4 in multiple subject areas and subareas like reading, math, language, and a few others. In addition, she got a few qualitative comments as well related to her performance since the last report card. Not only did she get these quarterly report cards, we also had two regularly scheduled meetings with her teacher to discuss performance. Sarah had done successively better on each of her earlier report cards but yet she still asked after I reviewed her report card with an anxious look on her face, “I hope I make it to third grade.”
Having reviewed Sarah’s report card, I stated to her with confidence that not only did she get promoted to third grade but we knew her areas of strength and which areas she could work on (there was one). This question though from my daughter got me thinking about business owners who have yet to develop their own report card system for their staff. Without a formal and meaningful regular review process, your staff is left to ponder or worse, not even know to ask the following questions:
“How am I doing?”
“What do I do well?”
“What should I work on?”
“How do I get better?”
“What are my goals for the next 6 or 12 months?”
“Am I on track for that promotion?”
And without a structured review process, for the most part you will have no idea what are the dreams and aspirations of your staff and what you can do help them come true or perhaps agree their future should be with another firm.
If you have not instituted a program to quantitatively and qualitatively review individual staff performance, you are missing an opportunity to let each staff member know the conditions of satisfaction in their role and how each one is doing against their own personal goals.
Yes, formal semi-annual reviews require significant time and resources to set up, manage, and then run, but if you are going to scale and develop your organization to fulfill your own personal ambitions, you don’t really have a choice.
