If your workplace functions like most companies, you probably conduct one formal round of employee evaluations per year. This is likely a time-consuming process with high stakes on both sides; employers lose sleep in their efforts to draft reviews that are fair, well written, comprehensive and meaningful. And employees lose sleep over concerns about negative feedback and plan to leverage positive feedback into raises and promotions. After the review cycle ends, major shake-ups occur. Promotions are put in place, salaries change, employees leave and turnover rises. With all the drama surrounding the process, most employers would rather keep this an annual event, and rightly so.
But despite the time investment and the aftermath, could your company benefit by conducting more than one review per year? Consider the possibilities.