Performance Reviews: The Importance of Valuating

Performance Reviews: The Importance of Valuating
Victoria Lembo

Some time ago, we identified the need to promote and implement performance valuations at BEON. The process we’ve developed to meet this need is quite unique, as reflected by our word choice. So, why do we call them valuations instead of evaluations?

Evaluating refers to an asymmetric relationship, in which the subject receives judgment from the evaluator and the only possible response is to defend themselves, resulting in a narrow exchange. Now, do we seek to be a court in which we are judges and our collaborators the accused? The answer is a resounding NO.

The main problem we see in the evaluation dynamic is that the person being evaluated doesn’t have the opportunity to offer their perceptions about their own work, which is crucial to a rich exchange that includes consistent and fair feedback. If our objective was to determine the true value of our collaborators, we needed to give them the opportunity to participate more meaningfully in the process.

This unbalanced dynamic is the reason we decided to call our process performance valuation, which allows the collaborator to provide their assessment about their own work first. Next, the evaluator  provides their perspective, and the two exchange opinions, detect opportunities for improvement, and jointly establish expectations for the period leading up to the next assessment.

The process consists of several stages:

1) The collaborator self-assesses items proposed by BEON: technical level and experience, communication skills, commitment, and leadership. Some questions include descriptions so they understand what we expect from them on each point.

2) The project manager (PM) and technical leader of the collaborator’s team submit their assessments on the same elements.

3) A technical valuator provides an external audit.

4) The collaborator, their PM, and HR engage in a dialog in which they exchange ideas and together determine objectives for the coming months.

Recognizing collaborators for the work they’ve accomplished and designing an improvement roadmap are both crucial sources of motivation. In such a competitive market, creating a professional horizon is valuable in that it  provides perspective and awakens the desire to continue growing in a company that relies on its professionals to offer the best possible service to clients.

Additionally, performance valuations are a fascinating tool for cultural exchange, given that the assessment items imply the values ​​that BEON seeks to promote. 

We discovered that valuation provides immense value to our professionals, and we’re very proud to have implemented it. 

Let’s valuate, not evaluate!