Benefits of HR Analytics

Khushboo Kaushik is Content Manager at CareerBuilder India. Her expertise of writing can be uncovered in areas- Employer Branding, Recruitment Trends, Employee Engagement, Tech in HR. Also, a lover of poetry & art. Reach out to her at n.linkedin.com/in/khushboo-kaushik-4b525a102

Performance appraisals are on the way, and the managers are already stressed out. We all know what appraisals mean to employees, but to millennials? All things considered, writing a performance review requires a manager to be unprejudiced and objective, not biased and irrational. Sometimes, they become too restricted in judging employees, that they get entangled in the realm of paradoxes, which eventually hampers the entire objective of performance appraisals. When it comes to retaining the millennials on board, they often overlook what these employees may feel, think and anticipate that their performance review process would be.

What Millennials Feel & Say?

74% millennials feel that they know nothing about how their managers are considering their work performance.

Nearly 70% of millennials feel a sense of confidence with the performance review process before appraisal as it helps them learn and grow. They just want to see some modifications in the evaluation process.

Over 50% millennials find their managers unprepared in providing feedback during a performance review.

Nearly 60% millennials react to a traditional performance review by job-switch.

Reinvent Performance Review Approach, The Millennial’s Way Out

Understanding the Mindset of Millennials- From Review to Appraise at Workplace

Over the recent years, the millennial generation’s confidence has been debated a lot. They are all the way more optimistic than other generations and hence less tolerant to unpleasant work environment.  More likely to broadcast their ideas and concerns across social media, they are often either the most convincible or the most inconvincible generation to work with. Being bombarded with the digital world, they are born marketers and often the conventional performance review practices become ineffective for them.

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Underneath are the top 3 parameters of performance review, on which the millennials must be assessed.  Alongside, described are the best approaches for managers that can be devised to meet the ever-growing expectations of these employees:

1. Team Player

Millennials today seek to work in organizations wherein they can achieve goals in a team-oriented culture. A ‘creative team’ is what they expect where they can think out of the box in a collegial culture. This generation is more social and believes in changing the world with their thoughts, which can only be expressed when there are people to hear them out. ‘An effective team player’ is what they want to be assessed upon.

 What should be a Manager’s Approach?

Since, millennials work with different departments more often as team players, they demand their review to be conducted by more than just one manager. All the managers they are working with, must-have an overview of deliverables by millennial employees and provide an individual feedback at the time of appraisal. Furthermore, managers must break the traditional ways of annual feedbacks and work on ‘always-on’ feedback, which could further help millennials improvise themselves and express their work in the ‘much-needed’ direction. ‘Time’ is precious in the working environment. Both millennials and managers would benefit from timely and accurate performance feedbacks to make the appraisal process fair, faster and transparent.

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2. Top Performer

Money is often a secondary concern for millennials, they focus more in doing something that adds more value to their career and passion. They are always determined to perform good, which ultimately becomes their ‘demand’ in terms of what they think of performance appraisals and compensation. Job hopping for them is not a career block but an opportunity to expand their knowledge, intelligence and devotion to achieve personal success.

What should be a Manager’s Approach?

Traditional HR systems track only yearly employee performance on quantity basis but often overlook the quality delivered during the timeframe. According to a survey by WorldatWork, Loyola University Chicago, the key elements to engage top performers is by assessing employees’ individual goals, performance delivered during targets, and consistency in their quality of performance. Managers can only make smart and effective decisions during appraisals, if they empower the top performing millennials engaged and encouraged through either monetary or non-monetary incentives. Writing what’s done in the end is easier, writing a review to HR, that reflects the exact work done by a top performer employee is what managers are paid for.

3. A Digital Asset

Millennials are grown digital masters. They use social media for anything and everything on a frequent basis. In today’s globally digitalized workspace, social media promotion is the need of any new or a pioneer organization in which the millennials are an asset to the company. They can curate the relevant content to spread the buzz about your business across an exponential number of connections.

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What should be a Manager’s Approach?

When it comes to performance reviews of these digital masters, they expect technology should be fast and user-friendly and not time-consuming or complicated. For this, the managers must devise hi-tech performance metrics and performance management software that matches the technology they use in their personal space. With an automated performance review tool, headache of HR department will also be reduced with more encouraged millennials at workplace.

Conclusion

A solid organization believes in building strong pioneers and performance review is designed to reflect the potential of each employee. A better technology once utilized can undoubtedly help HR managers with assessing, retaining and engage best talent for a longer haul. All it requires is not to communicate performance towards the end of the year, but rather work towards motivating so as to enhance the millennial’s performance from the very beginning.

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