What do you think of performance reviews? Are they a necessary evil and an overall waste of time? Or an opportunity to have a meaningful dialog and make improvements? No matter which side of the desk you’re on, making the most of a performance review can be to your benefit.

Tips for Employers

Every employee you hire is an investment. Look at a performance review as a way to improve your return on those “investments” by giving your employees the feedback they need to perform their jobs better.

• Be prepared - Create an “agenda” so you don’t forget any important issues.

• Strike a balance - Acknowledge the employee’s strengths and discuss any weaknesses. Remember that turning weaknesses into strengths is a goal you both share, so keep the discussion positive and motivational, if possible.

• Make it a conversation - Give employees the opportunity to discuss their performance reviews. Ask if they have any issues they would like to bring up.

• Discuss the future - Work together to set goals for the next year.

Tips for Employees

You invest time and effort in your job. Ideally, the best way for you to improve your return on that investment is to help the company be as successful as possible so you can be rewarded. Look at your performance review as an opportunity to find how to achieve that goal.

• Be prepared - Think about how your review will go and bring any relevant information and/or documentation you may need with you.

• Strike a balance - Anticipate any negative performance issues that might be discussed. Be prepared with your own ideas for improvements.

• Make it a conversation - This is your chance to ask questions, explore possibilities, ask for advice, and generally have a candid discussion with your boss about your role in the company.

• Discuss the future - Work together to set goals for the next year.