Quarterly appraisals have become an integral part of Amnex’s work culture. However, the question we often confront is- why should we do it every quarter? Is it not enough to do it just once a year? Frequent introspection comes with a host of benefits. And that is why we have stuck to the regime despite it being a more time and energy-consuming process. Here is how quarterly appraisals have helped the organization to grow.
A study conducted by Officevibe, a people-first employee experience platform, suggests that 96% of employees appreciate regular feedback. However, receiving informal feedback from managers or team leaders is normal; it is vital for employees to receive formal feedback from their higher-ups. Here is when quarterly appraisals play a crucial role. They offer opportunities to team leaders and members to evaluate their performance regularly.
In addition, it imbibes a culture of keeping track of work. Recalling the work done during the last year can be daunting. Quarterly appraisals offer an opportunity to reflect on the current work, evaluate it and introspect if it is not done properly. It is also an excellent opportunity to correct mistakes faster, addressing them before they lead to dire consequences.
Another critical parameter of quarterly appraisals is goal setting and progress evaluation. Frequent self-appraisals help keep an eye on self-improvement and make amendments if required. Accompanied by actionable feedback, they can help the employees grow faster and better in comparison to annual appraisals.
Annual reviews are traditionally associated with raises. On the other hand, quarterly appraisals establish that the reviews are as important for performance improvement as they are for the pay hike. They play a crucial role in moulding employees into the best versions of themselves, ultimately impacting the organization’s overall performance.
Therefore, the next time, let us look at quarterly appraisals as a constructive activity that helps us grow together.
