A new survey from Taleo that asked working Americans what they have the most control over this year found that death and taxes took a backseat to performance reviews.
The results showed 59% workers feel they have control over their job performance compared, respectively, to 39% who have their health in check and a 2% of Americans who feel they have control over how much they pay in taxes.
However, nearly 80% of the employees polled said they are dissatisfied with their employer’s review process.
More on Taleo’s findings:
– The number one CEO priority worldwide today is balancing talent retention with cost reduction. Many are approaching this by aligning individual and corporate goals and results to pay for performance. Indeed, of the 80% of employees who wanted to change something in their performance reviews, nearly one third (31%) agreed that they want their performance reviews tied to compensation. Interestingly, Americans in the moderate to high salary range (more than $35,000), drove this priority.
– A continual challenge in a business environment is to ensure fair, consistent performance reviews that represent a complete view of the employee’s work: with feedback from peers, customers and managers. 21% of the employees in this survey felt that fairness was the main thing they would change about their performance reviews. This response was driven by employees earning under $75,000 annually. Further, those without a college degree were twice as likely to put a priority on fairness.
– The regularity and timing of reviews is also in flux in American companies. In the past few years there has been an evolution from annual “anniversary” date reviews for each employee, toward annual or semi annual full staff focal reviews that give senior management a better view of performance across the organization. Here again, demographics played a factor on employees’ perspectives about more regular reviews: 16% of workers would like their performance reviews to be conducted more often. The bulk of respondents in this category are people under the age of 45; 11% of workers would like their job performance reviews to go away altogether. Most of these people either don’t have dependents, or no longer have children who live at home.
“In the current economy, job performance is front and center of the corporate agenda. So it’s not surprising that this is an area where American workers want to seize greater control,” said Alice Snell, Vice President of Taleo Research. “With employees working hard and performing well to keep their jobs, companies need to not only know what their employees would like to get out of the performance management process, but also ensure they have effective and efficient processes in place to maximize workforce productivity and retain top talent within their organizations.”
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