JOHNSTON, Iowa, July, 1, 2014–As highlighted in a compelling new case study from Reviewsnap, the traditional approach to performance reviews–those once-a-year meetings in which managers hand down one-way evaluations and a new set of targets for the next 12 months–appears to be on its last legs for a growing number of progressive employers.
The case study, “Union Bank & Trust Cashes Out an Archaic Performance Review Process,” describes how UBT’s First Vice President of HR, Chad Thies, and his team grew increasingly dissatisfied with the traditional approach to performance reviews–an approach that failed to impact employee performance or motivation at the organization.
“The approach and the tools we were using did nothing to facilitate effective discussions with our people,” said Thies. “We struggled to get employees to take an active role in the review process and in setting their own performance goals. Plus, managers were pouring an unbelievable amount of time and effort into reviews. Bottom line, we had no real evidence that reviews were positively affecting employee performance or helping to raise employee engagement or motivation levels.”
As a result, UBT called upon Reviewsnap to help update its review process and supply the tools necessary to:
– Slash time-per-review by two-thirds.
– Achieve a 100% completion rate for reviews.
– And significantly improve relationships and communication between UBT’s managers and their direct reports.
The case study also describes how UBT created a new performance review process–called the “4 by 4 Process”–that requires managers to meet with direct reports four times a year at regularly scheduled intervals. However, there are no “ratings” under the 4 by 4 Process. Instead, managers hold conversations with their reports, asking them four key questions: 1) What have you accomplished in the last six months? 2) What will you accomplish in the next six months? 3) What challenges are you facing? 4) How can I help you be your best?
To read more about UBT’s transition to its new review process and its partnership with Reviewsnap, download a complimentary copy of the case study now.
Reviewsnap is a complete, fully automated performance management system that offers user-friendly, reliable and affordable on-demand SaaS (Software as a Service) solutions to help companies align goals for greater results, enhance communication and coaching, increase employee engagement, and save time and money through improved efficiency. Learn more at www.reviewsnap.com.