A New Performance Feedback Generator for 2019: ReviewBuilder
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We scoured the web to find the most important stats, on performance reviews, that you need to share with your team.
These stats will show that traditional performance reviews clearly don’t work. It’s time to try something that does.
Stats on the Importance of Performance Reviews
24% of workers would consider leaving their jobs if they have managers that provide inadequate performance feedback. - The Harris Poll / Yoh
Stats on How Performance Reviews Could Be Improved
30% of performance reviews end up decrease employee performance. - Psychological Bulletin
58% of executives believe their current performance review system doesn't result in increased performance or engagement. - Deloitte
70% of companies are reconsidering their performance strategy. - Bersin
66% of employees with highest performance scores aren't actually the highest performers. - CEB
95% of managers are "unhappy" with traditional performance management. - CEB
Managers Spend 210 Hours A Year On Performance Management, And Employees Spend 40 Hours A Year. - CEB*
6% of companies surveyed think performance reviews are worth their time. - Deloitte
2% of HR executives say yearly evaluations are useful. - Deloitte
80% of workers are dissatisfied with their performance reviews. - Deloitte
3% of all managers believe performance will improve through the performance management process. - Deloitte
90% of performance reviews are painful and ineffective. - Keka
51% of employees believe annual reviews are inaccurate. - Keka
22% of employees have called in sick rather than face a performance review. - Survey of 1,000 millennials.
Only 8% of companies believe their performance management process is highly effective in driving business value, while 58% say it’s not an effective use of time. - Keka
80% of millennials said they prefer on-the-spot recognition over formal reviews. Keka
80% of employees prefer immediate feedback to annual reviews. - Adobe
45% of HR leaders do not think annual performance reviews are an accurate appraisal for employee’s work. - CoreAxis
Managers who received feedback on their strengths showed 8.9% greater profitability. - Gallup
Companies who implement regular employee feedback have turnover rates that are 14.9% lower than for employees who receive no feedback. - Gallup
One in five employees is not confident their manager will provide regular, constructive feedback. - Quantum Workplace
Teams led by managers who focus on their weaknesses are 26% less likely to be engaged. - CareerBuilder
21.5% of employees that don’t feel recognized when they do great work have interviewed for a job in the last three months, compared to just 12.4% that do feel recognized. - TinyPulse
24% of employees who felt they had not received recognition from their direct supervisor in the past two weeks had recently interviewed for another position, compared to just 13% who had received recognition. - TinyPulse
92% of respondents agreed with the assertion, “Negative (redirecting) feedback, if delivered appropriately, is effective at improving performance.” - Zenger and Folkman
63% of Gen Z said they want to hear timely, constructive performance feedback throughout the year. - 1,400 GenZers from the International Intern Leadership Conference
68% of employees who receive accurate and consistent feedback feel fulfilled in their jobs. - Clutch
77% of HR execs believe performance reviews aren’t an accurate representation of employee performance. - LinkedIn
42% of millennials want feedback every week - Center for Generational Kinetics
Source: BambooHR
Stats on Outcomes from Performance Reviews Done Well
Recognition is the number one thing employees say their manager could give them to inspire them to produce great work. - Forbes
27% of workers strongly agree that the feedback they currently receive helps them do their work better. - AccessPerks
On a scale of 1-10, managers who gave the right amount of feedback earned an average score of 8.6 from workers. - Predictive Index
69% of employees say they would work harder if they felt their efforts were better recognized. - Zenger and Folkman
40% higher employee engagement - Mind Gym
25% lower turnover - Mind Gym
18% growth in customer loyalty - Mind Gym
15% boost in productivity - Mind Gym
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