Performance Incentive Programs (PIPs) Also consider the existence and timing of any performance in- centive programs (PIPs) or bonus distributions of some kind. If an employee participates in such a structured PIP, then achieve- ment of PIP-related objectives should be an integral part of any formal review process. Remember that a structured PIP does not have to be annual. Indeed, it can include monthly, quarterly and annual elements or a combination thereof. Next, let’s look at some other considerations. 360-Degree Reviews In addition to standard annual reviews, some larger companies will employ a review technique known as a 360-degree review aka peer review. Essentially, this 360 is, as the name suggests, all about getting objective feedback derived from being reviewed by your peers and will oſten include review by your supervisor, other superiors and your subordinates too. Yep, that’s what I said: your subordinates! Gold stars from Ms. Brown, your third grade teacher, don’t count here. “Would reports from my parole officer be considered?” you ask. Rather than be indecisive, let’s just go ahead and say, without hesitation, this would be a definite maybe! “Wait just a minute. I’m the boss, and I do the reviews of my people, not the other way around!” Yes, indeed, your magnifi- cence. Although we all recognize your embodiment of perfec- tion, believe it or not, there are some imperfect managers and owners out there. No kidding! The idea is to provide objective feedback to managers in hopes of making them more aware of how they are perceived. Yes, indeed, it can be a real eye opener and humbling experi- ence. But it has also tamed giant egos and helped managers to grow professionally. Do you have the guts to participate in such a process? Some leaders do it once, reject anything un- favorable and never repeat it. It must be a waste of time and money if you reject any unfavorable feedback! Sure, whatever you say, boss…and all of the bobble heads agreed that the em- peror had new clothes! Seriously, this can be a very useful tool and is best handled by third parties to ensure confidentiality and encourage hon- est feedback. Of course, if you only have one or two employ- ees, this may not be appropriate for your company, as it would be too easy to figure out who said what. However, if you use the 360-degree method, don’t spend all of your time trying The Next Generation of Locks WE MAKE SECURITY SIMPLE IDN is your source for Allegion Products Schlage ALX Series Schlage NDE Series Locknetics CS450 Contact your local IDN Branch for a quote or to place an order! www.idn-inc.com OVER 50 LOCATIONS IN THE U.S. AND CANADA WWW.ALOA.ORG MAY 2020 KEYNOTES 19
