The Power of Regular Performance Reviews

In the insurance industry, it's common practice to conduct performance reviews with employees just once a year. However, this approach is far from ideal. Waiting an entire year to provide guidance, mentorship, and feedback can leave employees feeling disconnected and uncertain about their progress. To truly inspire and elevate your team, regular monthly performance reviews are essential.

Why Monthly Performance Reviews Matter

Monthly performance reviews are crucial for maintaining productivity, fostering positive feedback, and strengthening your agency’s culture. These reviews provide a consistent opportunity for employees to receive the guidance they need to excel in their roles. Additionally, they offer a chance to proactively address any issues and celebrate successes, both of which are vital for employee satisfaction and engagement.

The Role of Performance Reviews in Building Culture

When conducting performance reviews, your primary goal should be to inspire and elevate your employees. Start by asking them about their goals, challenges, and how they believe they can increase productivity. Discuss ways to develop and strengthen your agency's culture, and work together to create actionable plans that drive productivity and growth.

Building a strong culture involves three key elements: trust, integrity, and respect. To foster these values, it's important to get to know your employees on a personal level. This connection helps build trust and respect while demonstrating your commitment to integrity. Recognition and praise should be given regularly, not just during annual reviews, but on a daily and weekly basis. However, performance reviews provide a focused opportunity to highlight specific accomplishments and set clear action plans for the future.

Key Questions to Ask During Performance Reviews

To make the most of your performance reviews, consider asking the following questions:

1. What are you struggling with in your position?

   • This question invites employees to share what isn’t working and gives you the chance to listen attentively. It’s essential to create an environment where they feel comfortable expressing their challenges.

2. It seems like you have ideas on how to fix this?

   • By asking this, you show trust in your employees' ability to problem-solve and encourage them to take ownership of their role.

3. What is working well?

   • Allow your employees to highlight the positive aspects of their work. This not only reinforces good practices but also provides an opportunity for you to offer praise and recognition.

4. Is there anything hindering our culture?

   • This question helps identify any cultural issues that may be affecting team dynamics or employee satisfaction. Addressing these concerns promptly is key to maintaining a healthy workplace culture.

5. What do you like about our culture?

   • Encouraging employees to express what they appreciate about your agency’s culture helps them connect more deeply with their work environment. Verbalizing these positive aspects reinforces their commitment to the culture.

The Importance of the Review Structure

When conducting performance reviews, the order in which you ask these questions is important. Start with the negative aspects and end with the positives. This approach aligns with human nature, as studies have shown that most people prefer to start with bad news and end with good news. By concluding on a positive note, you leave your employees feeling motivated and uplifted, which enhances their overall experience.

Final Thoughts

Regular performance reviews are not just a formality—they are a powerful tool for building and sustaining a strong, productive culture within your agency. By asking the right questions and fostering open communication, you can inspire your employees, address challenges, and celebrate successes, all of which contribute to a thriving workplace.

Next time you sit down for a performance review with one of your employees, try these tips and observe how they deepen your agency’s culture. For more tips and strategies, comment the word "performance," and let’s connect for a top performance call to discuss how we can help you elevate your culture.