Everyone has them, and everyone hates them. Performance reviews are stressful, for both the giver and recipient. Employees often think they’re overworked and under-compensated, while managers often think there’s room for improvement. So why do we put ourselves through this torture every year? Isn’t there a better way to identify competency and reward a job well done?
The short answer is: yes. There is.
In our last blog, we discussed being your own advocate at work. Part of that advocacy included bringing digital credentials to the table so that your achievements go beyond being anecdotal. So what happens when you’re on the other side of the desk, reviewing an employee’s successes and failures throughout a year and they don’t have proof that they’ve grown professionally? As a manager, you’re left to speculate and draw your own conclusions, which is just as stressful for you as it is for your subordinate.
Up to 90% of managers in the United States dread giving performance reviews. Regardless of how much everyone hates the review process, over 90% of companies in the United States still hold them annually. They’re expensive and time-consuming, but the corporate world has yet to implement a better way.
Digital credentials can save time and money (a company’s two most valuable resources) and cut out the need for speculation, storytelling, and most importantly, stress. With a digital receipt that serves as verified proof of competency, an employee is empowered to show their manager everything they’ve done to bring value to the business, and their manager is equipped to make informed decisions about promotions and raises based on evidence. The need to have a long, drawn out, often torturous review is no longer. Companies that offer their employees the opportunity to grow and learn while on the job benefit overall, so surfacing those achievements and cutting out performance reviews is a benefit to everyone.
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