Perceived Value of Performance Assessments Varies Greatly

Accountemps, a leading organization specializing in the staffing of temporary accounting, finance, and bookkeeping professionals has announced the results of its recent survey of CFOs on the value of annual performance reviews when managing personnel. The survey found that94 percent of CFOs found formal evaluations to be somewhat to very effective in helping employees improve performance. However, 31 percent of employees disagreed with the sentiment, reporting that performance reviews are somewhat to very ineffective.

CFOs were asked, “In your opinion, how effective are annual or semiannual performance reviews in helping employees improve their performance?” Responses were:

• Very effective – 26 percent

• Somewhat effective – 68 percent

• Somewhat ineffective – 4 percent

• Very ineffective – 1 percent

• Don’t know – 1 percent

Workers were asked: “In your opinion, how effective are annual or semiannual performance reviews in helping you improve your performance?” Responses were:

• Very effective – 25 percent

• Somewhat effective – 37 percent

• Somewhat ineffective – 16 percent

• Very Ineffective – 15 percent

• Don’t receive performance reviews – 6 percent

• Don’t know – 1 percent

“The success or failure of an appraisal depends on how clearly both performance expectations and feedback are communicated to employees,” said Max Messmer, chairman of Accountemps. “Managers and their staff should be in agreement at the outset on what criteria will be used to evaluate effectiveness in a given role.”

Messmer continued: “Nothing discussed in a formal evaluation should come as a surprise to the employee. The best managers regularly give their teams performance feedback throughout the year.”