The 2013 U.S. Employee Report by Cornerstone OnDemand has discovered that nearly half (47 percent) of employees feel that current performance review practices are fair and accurate in depicting their performance. Nearly as many employees (40 percent) said that their performance is significantly improved by the feedback they receive during their reviews. All told, the survey found that, on average, review practices are more effective than initially thought.
Other key opinions on the performance review process expressed by the surveyed employees include:
• Results are unsurprising as received feedback has been given prior to the formal review (35 percent)
• Reviews offer clear descriptions of how job performance impacts overall business (33 percent)
• Reviews provide specific examples of their own work to support feedback (31 percent)
• Reviews provide them sufficient guidance and resources to improve performance.
Overall views held by employees about the performance review process include:
• 38 percent said it provides opportunities to improve performance
• 29 percent said the process is in place to help them succeed at their jobs
• 29 percent said it is a developmental discussion between manager and employee
• 22 percent said it ensures the employee is prepared for future roles
• 20 percent said it is a discussion about raises, bonuses, and promotions
• 19 percent said it helps to raise potential thanks to education and training
• 12 percent said it is not useful
Regarding actual frequency of performance reviews, most employees (21 percent) said they receive feedback annually, 16 percent reported quarterly reviews, 14 percent said monthly, 7 percent said upon the completion of a project, and 5 percent said daily.