One of the biggest mistakes managers make in regards to employee reviews is to limit them to a formal, annual meeting. In fact, the yearly performance review is of limited use. The tendency is to focus on major issues that occurred during the prior quarter. Results from earlier in the year are often long forgotten.

More frequent and less formal feedback sessions give employers and employees a greater opportunity to focus on issues as they occur. The purpose of ongoing reviews extends beyond recognizing employee successes and areas of improvement. In addition, they can help promote employee retention,engagement and empowerment, and identify if the employee needs training or tools to maximize his or her performance.

It's also an opportunity to improve your business practices. The people on the front lines have the greatest amount of knowledge about the day to day operations of your business and are more likely to have insights that can help you streamline and improve your business than the original architects of the process.

Informal employee reviews help you provide ongoing feedback, foster employee retention and ensure your employees have the tools they need to do their jobs. They also give you real-time feedback that about your business so you can discover what really works, what doesn't and what needs to be improved in your business.

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