Hello and welcome to Episode 160 of the People Powered Business Podcast. Today we’re discussing why doing performance reviews is more important now than ever before.We’ll start by unpacking what are performance reviews and why do we avoid doing them.As business owners, leaders and managers putting off reviews, or avoiding them completely is more common than we’d like to admit. Whether it’s due to time constraints, fear of negative reactions, and lack of experience with formal evaluation processes – I’ve heard all the excuses under the sun!So I want to make the case for why you should do performance reviews. So I’m diving into the reasons why employers should conduct regular performance reviews. We discuss the benefits of providing feedback and evaluations, such as increased employee performance, accountability, and productivity. We also explore how performance reviews can help identify skill gaps and provide opportunities for employee development.Finally, I wanted to share the risks to your business if you don't do reviews with your team. Specifically, how a lack of feedback and evaluations can lead to decreased employee motivation and increased turnover, as well as difficulties in identifying skill gaps and potential legal issues.If you’d like to continue the conversation on this, please join us in the Facebook Group HR Support for Australia Businesses via this link:https://www.facebook.com/groups/hrsupportaustralia

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