In today’s lean, fast-changing world, traditional business practices are being shaken up. One business practice that many companies are revisiting is the annual review process. A growing number of workers are demanding more frequent and meaningful feedback about their performance, and in an effort to retain top talent, businesses are looking at how they can improve the review process to provide more regular performance updates.
Based on recent data, it’s clear that changes were long overdue:
- 42% of candidates disagree or strongly disagree that their company’s review process is useful and productive.
- 29% of employees agree or strongly agree that their performance reviews are fair.
- As a result, 54% of employers are now increasing their focus on performance reviews.
CONSIDER THESE THREE WAYS YOU CAN MODERNIZE REVIEWS AT YOUR PRACTICE
- Make Performance an Ongoing Conversation: Instead of a one-way scenario, performance reviews should be discussions that occur fairly regularly and in one-on-one settings. To encourage this, create an open culture of feedback. Employees must feel comfortable expressing their concerns; they shouldn’t feel they are at risk of losing their jobs for speaking up.
- Embrace Career Pathing: Instead of being reactive, career pathing should entail proactive discussions that lay out a plan, empowering employees to take ownership of their advancement
- Ensure Reviews Are Fair: Reviews should take into consideration any changes in responsibilities, workflows and resources, which can impact workers’ productivity. In other words, reviews can’t be cookie-cutter; they must adapt to the situation at hand.
Performance reviews that are frequent, authentic and constructive can lead to greater efficiency, productivity and team camaraderie that can drive stronger employee engagement and retention of high performers within the organization.
How to Handle Negative Patient Reviews
Oct 7, 2021
Bad reviews are a part of the landscape in a digitally connected world, but they can hurt your practice and your ability to attract employees. What do you do if you get a bad ...
OBGYN’s: Tips for Successful Mentoring
Jun 9, 2021
Being a mentor has many rewards, but like every other skill you have achieved in your career, it requires attention, the ability to adapt to a situation, and a willingness to ...
Breach of Contract: What Happens Next?
Jul 1, 2020
Most practices have some type of contract with associates. For the most part, these agreements work well. But sooner or later, you are likely to have an employee seek to leave...
Rebooting Your Practice After the Virus
Jun 11, 2020
The coronavirus pandemic has had an enormous impact on the OB/GYN industry. We saw one of the biggest unemployment rates of any industry with thousands of jobs lost, but now t...
Perks That Don’t Always Work
Mar 4, 2020
As a practice owner, you're probably already aware that you can save yourself a lot of headaches if you can retain good employees instead of retraining new ones. While employe...
Building an Employer Brand for Your Practice
Feb 19, 2020
Unless your practice exists in a place where there is virtually no competition, you probably already understand the importance of branding in terms of attracting new patients....
Alternative Holiday Celebrations That Will Delight Your Team
Nov 27, 2019
How times have changed. For some professional organizations, the big holiday party no longer has the same appeal as it did in years past. An open bar can present more legal an...
Does a Toxic Office Environment Impact Your Bottom Line?
Jun 11, 2019
Studies have demonstrated that office culture and the relationships developed between staff play a major role in job satisfaction and employee stability. In an interview with ...
Hiring ETS OBGYN vs. a Broker to Find a Buyer for Your Practice
May 21, 2019
We’ve told you how best to prepare for the sale of your practice and hope that the processes we’ve outlined have helped you prepare. Now it’s time to sell and ETS OBGYN ...
Expectations When Considering the Sale of Your OBGYN Practice
Apr 9, 2019
When you know, you know. If you have been a practice owner for a significant period of time, you may have felt that proverbial itch to sell the practice, retire and pursue o...