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The Importance of Executive Evaluations

Executive Assessment

The Importance of Executive Evaluations

Executive Assessment

Why Do You Need Executive Evaluations?

Have you ever invested a great deal of time in interviewing and hiring an executive who you thought would be a great asset to your company only to see that hire fail miserably? Often the issues tied to these failures revolve around a bad culture fit or miscommunication.

Things might have gone differently if the company had been doing executive evaluations consistently. Are your employees feeling fulfilled at their job? Do they perform well? How are they with communicating to the group? What could they do differently? How can you help them grow?

Regardless of the size of your company or your business objectives and goals, having some sort of assessment in the beginning and throughout employment for your team members and executives can enhance success at the employee and organizational level.

Evaluations for Your Executives and Leadership Staff

To see the most growth and productivity everybody on your team, even your top dogs should get a performance review. Even though they have most likely been there longer and are doing a good job, everyone can always improve.

As technology, media, and ultimately communication changes, executives need to be in tune with how they are performing not just for the employees below them but also how they are working to enhance your company. Sometimes people can get set in their ways, and need a reminder to think outside the box, to push for even better numbers this year, and to challenge themselves.

Every employee, even your executives, need to be held to the same standard and have set goals. Just because some executives might be setting goals for their employees, they should also have their set of goals to be met and have periodic assessments done by a board or an owner.

Benefits

  • Everyone knows what’s expected of them
  • Executives can recognize those who are excelling, and coach team members who are having trouble
  • Executives are in tune with their employees’ needs
  • Employees feel like they have a voice in their growth process
  • They allow transparency
  • Improved communication

So where do you start?

Before you can start evaluating your employees, you need to define and communicate custom goals to each employee. Make sure to show them exactly what format you are evaluating them on. Furthermore, you need to communicate with your entire team your company’s performance standards. Performance standards are put in place to ensure every employee is held accountable but also to make sure the procedure runs smoothly. Below are some examples:

  • Showing up to work on time
  • Preparedness for meetings
  • Formality of emails
  • Being able to work on a team assignment
  • Uses appropriate language with clients, superiors and co-workers

Goals, as stated before, should be customized to every employee – and should be created based on their strengths and weaknesses. For example, a goal for a member of your sales team may be very different than a goal for your IT specialist. In the end, you want these goals to help make individuals better, but also your entire company works more effectively. With this in mind, it can be helpful to get input from employees when setting the goals. Make sure it’s manageable for everyone.

When do you follow up?

Every company is different and will need to decide what works best for them on when to follow up with an assessment. There are many options: yearly, twice a year, quarterly, or even monthly. For smaller companies and sales-based businesses, meeting once a month to stay on target for goals can be the best path forward. However, whatever time table you may choose, it should make sense for your executives or employees and give them enough time to improve upon their action items.

Companies can also opt to do less formal check-ins more often and formal reviews less. Again, pick the assessment style that makes the most sense for your company and allows for the most improvement for your employees. Too many critiques can make employees feel like they are being monitored and too many assessments can make employers feel like they are babysitting.

Executive evaluations and assessments can go a long way toward ensuring your company has made the right hires and that those hires are on the right path to make your company as successful as possible. They allow for executives to understand the needs of their employees and they provide insight for employees to ensure they are on the right track.