The “Four Question” Performance Review

According to the Washington Post, in an effort to streamline what can become a laborious, negative, and in many ways ineffective and inefficient, performance review process, Deloitte, an international HR consulting firm, is getting away from the long supervisory and peer-reviewed performance evaluation processes.
Now there are four simple questions:
1. Given what I know of this person’s performance, and if it were my money, I would award this person the highest possible compensation increase and bonus.
2. Given what I know of this person’s performance, I would always want him or her on my team.
3. This person is at risk for low performance.
4. This person is ready for promotion today.
I think that is an innate part of our normal process for determining a team members value within the practice.  By nature of small business too, it is easier to identify the leaders and high-performers and reward them.  We usually use that very criteria to determine raises.

However, true high performance and commitment takes leadership.

Unfortunately, we often also spend a disproportionate amount of time trying to “fix” and inspire the low performers.  Studies show that as much as 10% of your workforce is actively looking for another job, 10% are loyal and committed, and 80% think about alternatives at least once a day.

With these figures in mind, our biggest “return on investment” in time and energy is cultivating and inspiring the 80% majority and equipping the 10% of the high performers.

We often use a “three step” approach to the evaluation process to help ensure a positive and productive evaluation process:
1. What was your biggest accomplishment for the good of the practice and team last year?
2. What are your goals heading forward?
3. What measurable changes will you make moving forward to help the team?

Prompt and sincere follow-up, a commitment to provide needed resources, and good modeling of high-performance behavior are ways you and your leadership can help facilitate the process and bring out the best in people.