Maxwell Leadership Executive Podcast #326: Mastering the Annual Performance Review
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Jan 9, 2025 The hosts dive into the crucial role of mastering annual performance reviews. They stress the value of continuous feedback and the shift towards ongoing evaluations instead of traditional annual reviews. Key performance indicators (KPIs) are highlighted for clarity and objectivity. Additionally, the podcast emphasizes the importance of two-way conversations to build trust and a psychologically safe environment. Practical tips for preparation and fostering employee growth round out the discussion, showcasing effective leadership practices.
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Early Management Challenges
- Perry Holley shares his early experience as a first-time manager, struggling with performance reviews.
- He gave everyone top ratings, neglecting constructive feedback, and faced issues during the annual review.
Continuous Feedback is Key
- Have regular performance conversations throughout the year, not just during annual reviews.
- If anything discussed during the review is a surprise, you aren't leading effectively, says Mark Cole.
Structured Reviews
- Implement structured performance reviews, perhaps quarterly, in addition to continuous feedback.
- Regularly review KPIs and progress towards goals to facilitate adjustments and avoid surprises.
