37 Stats You Need to Know About Performance Reviews

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

1. 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

1. 30% of performance reviews end up decrease employee performance. - Psychological Bulletin

2. 58% of executives believe their current performance review system doesn’t result in increased performance or engagement. - Deloitte

3. 70% of companies are reconsidering their performance strategy. - Bersin

4. 66% of employees with highest performance scores aren’t actually the highest performers. - CEB

5. 95% of managers are “unhappy” with traditional performance management. - CEB

6. Managers Spend 210 Hours A Year On Performance Management, And Employees Spend 40 Hours A Year. - CEB*

7. 6% of companies surveyed think performance reviews are worth their time. - Deloitte

8. 2% of HR executives say yearly evaluations are useful. - Deloitte

9. 80% of workers are dissatisfied with their performance reviews. - Deloitte

10. 3% of all managers believe performance will improve through the performance management process. - Deloitte

11. 90% of performance reviews are painful and ineffective. - Keka

12. 51% of employees believe annual reviews are inaccurate. - Keka

13. 22% of employees have called in sick rather than face a performance review. - Survey of 1,000 millennials.

14. 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

15. 80% of millennials said they prefer on-the-spot recognition over formal reviews. Keka

16. 80% of employees prefer immediate feedback to annual reviews. - Adobe

17. 45% of HR leaders do not think annual performance reviews are an accurate appraisal for employee’s work. - CoreAxis

18. Managers who received feedback on their strengths showed 8.9% greater profitability. - Gallup

19. Companies who implement regular employee feedback have turnover rates that are 14.9% lower than for employees who receive no feedback. - Gallup

20. One in five employees is not confident their manager will provide regular, constructive feedback. - Quantum Workplace

21. Teams led by managers who focus on their weaknesses are 26% less likely to be engaged. - CareerBuilder

22. 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

23. 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

24. 92% of respondents agreed with the assertion, “Negative (redirecting) feedback, if delivered appropriately, is effective at improving performance.” - Zenger and Folkman

25. 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

26. 68% of employees who receive accurate and consistent feedback feel fulfilled in their jobs. - Clutch

27. 77% of HR execs believe performance reviews aren’t an accurate representation of employee performance. - LinkedIn

28. 42% of millennials want feedback every week - Center for Generational Kinetics

Source: BambooHR

Stats on Outcomes from Performance Reviews Done Well

1. Recognition is the number one thing employees say their manager could give them to inspire them to produce great work. - Forbes

2. 27% of workers strongly agree that the feedback they currently receive helps them do their work better. - AccessPerks

3. 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

4. 69% of employees say they would work harder if they felt their efforts were better recognized. - Zenger and Folkman

5. 40% higher employee engagement - Mind Gym

6. 25% lower turnover - Mind Gym

7. 18% growth in customer loyalty - Mind Gym

8. 15% boost in productivity - Mind Gym

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