‘Disappointing’ and ‘Ineffective’: Welcome to the World of Performance Reviews, According to Global Professionals Surveyed by Korn Ferry
-- Nearly Half Say Annual Review Has No Impact or Negative Impact on Performance --
-- Largest Percentage Spend 7 Hours or More on Review --
Of the more than 500 professionals surveyed, 75 percent said they have an annual performance review with their boss.
However, nearly half of respondents (42 percent) said their annual performance review had no impact or was ineffective at improving their professional performance, and 43 percent said it had no impact or was unhelpful at helping them understand what to do more of or differently to improve future performance.
The survey found that “disappointing” was the top word to describe the performance review process.
“Organizations realize that managing business performance is a very
dynamic process, so having a once-per-year meeting that hopes to both
evaluate and improve performance is a tall ask,” said
The survey found annual performance reviews take a large amount of time, with the largest percentage of respondents saying they spend 7 or more hours on their review.
“It’s critical that managers regularly have conversations about performance throughout the year, which is far more effective in driving performance improvement than trying to have a conversation about what people could or should be doing differently at the same time that you are sharing compensation information with them,” said Lemaire.
Editor’s Note: Survey Results at Bottom of Release
About the Survey – The
Do you have an annual performance review with your boss?
How effective is a performance review at improving your professional performance?
|Very effective||10 percent|
|Somewhat effective||48 percent|
|No impact||28 percent|
How useful is a performance review in helping you understand what to do more of, or differently, to improve your future performance?
|Extremely useful||30 percent|
|Somewhat useful||27 percent|
|No impact||17 percent|
|Somewhat unhelpful||14 percent|
|Not helpful at all||
If you were to use one word to describe your performance review process, what would it be?
Taking into account the following steps: developing goals, reviewing them with your manager, and finalizing them, approximately how many hours do you spend on goal setting each year?
|Less than an hour||14 percent|
|1-3 hours||28 percent|
|4-6 hours||25 percent|
|More than 7 hours||33 percent|
Tracy Kurschner, 612-309-3957