Following a recent Keynote I had done for a major organization in the Hospitality Industry, I was discussing the changes in values and expectation from the four generations working side by side in the workplace. I was approached in the hallway by a young manager (these days they all seem young to me) who wanted to thank me for my message especially the part about how organizations need to re-think their 'Performance Review' strategy based on the perceived impatient nature of their Gen X and Gen Y employees.
Frankly, I truly believe they need to be re-designed to occur away from annual increases, due to the fact that nobody really listens to what happens in an annual performance review because all they want to hear is how much their increase is going to be next year...but that is another article. And incidentally that premise is not unique to Gen Xers and Millennials - Boomers feel the same way. Understand that we live in an information/feedback now era. For example, the quote from the Gen Xer in the hallway, "I can find out what the weather will be a week from now across the other side of Europe, but I have to wait a year for my performance review. Does that make sense to you?" I am sure he deserved a good answer defending the position of his boss who had hired me, but my brain was not working very fast stymied by his logic.
Moving to Monthly, Bi-Monthly or even Quarterly Performance Reviews makes sense. It allows frank conversation about behavior, or modifying adult behavior, it begins to separate this process from Budget and Salary Increase Filters, and satisfies the strong data defining younger employee's desire for more timely formal feedback. Now before you start to freak about the paperwork issues you dread as a manager for the annual review process, it does not have to be that way... Nor does it necessarily replace the Annual Event for those who feel they have to have it, or even those in highly regulated industries.
It seems to work, giving the next generations the feedback that they are accustomed to receiving, and providing a tool for development and performance encouragement. We spend a lot of time slashing budgets when according to the data, timely feedback will build productivity and increase retention.
Frankly, I truly believe they need to be re-designed to occur away from annual increases, due to the fact that nobody really listens to what happens in an annual performance review because all they want to hear is how much their increase is going to be next year...but that is another article. And incidentally that premise is not unique to Gen Xers and Millennials - Boomers feel the same way. Understand that we live in an information/feedback now era. For example, the quote from the Gen Xer in the hallway, "I can find out what the weather will be a week from now across the other side of Europe, but I have to wait a year for my performance review. Does that make sense to you?" I am sure he deserved a good answer defending the position of his boss who had hired me, but my brain was not working very fast stymied by his logic.
Moving to Monthly, Bi-Monthly or even Quarterly Performance Reviews makes sense. It allows frank conversation about behavior, or modifying adult behavior, it begins to separate this process from Budget and Salary Increase Filters, and satisfies the strong data defining younger employee's desire for more timely formal feedback. Now before you start to freak about the paperwork issues you dread as a manager for the annual review process, it does not have to be that way... Nor does it necessarily replace the Annual Event for those who feel they have to have it, or even those in highly regulated industries.
It seems to work, giving the next generations the feedback that they are accustomed to receiving, and providing a tool for development and performance encouragement. We spend a lot of time slashing budgets when according to the data, timely feedback will build productivity and increase retention.
Mike Muetzel is a nationally recognized Author, Keynote Speaker and Leadership expert. His work has been featured in the national media including, The Associated Press, Bloomberg Television, Boardroom Magazine, The Manager's Intelligence Report, The IBM Small Business Advocate, and The Boston Globe to name a few.
He is often referenced as a national expert on the unique characteristics of today's employees. He has an extensive corporate background including nine years with Yamaha Motor Manufacturing Corporation where he sat on the Executive Committee. His prestigious clients include Fed Ex Freight, Kohler, Hilton Hotels, Motorola, Wyndham, Keebler and The Federal Aviation Administration among others. In addition, he is a former member of the faculty at Clayton State University, School of Business. University. In the words of Best Selling Author Ken Blanchard, "Mike understands what will make companies tick in the future, it's about maximizing the potential of your people..."
He is often referenced as a national expert on the unique characteristics of today's employees. He has an extensive corporate background including nine years with Yamaha Motor Manufacturing Corporation where he sat on the Executive Committee. His prestigious clients include Fed Ex Freight, Kohler, Hilton Hotels, Motorola, Wyndham, Keebler and The Federal Aviation Administration among others. In addition, he is a former member of the faculty at Clayton State University, School of Business. University. In the words of Best Selling Author Ken Blanchard, "Mike understands what will make companies tick in the future, it's about maximizing the potential of your people..."
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