Performance Reviews

Steven describes 5 realities around the performance of individuals, teams, and organizations, which all point to the same conclusion: • some• type of performance review system is needed. He then provides ten of the most common attributes that must be considered and balanced when developing a performance review system.

Max provides thoughts on how to design a performance review system across a company: • What will be the cadence of the program? • What will the process be for managers? • Will we do manager reviews and peer reviews? • Will we have a calibration committee to update the process on an ongoing basis?

Matt describes how his team launched a heavy-weight performance review system at a 50 person startup that took up too much managerial time. They then switched to a lightweight monthly system; employee morale improved and it became quicker to fix employee mistakes.

Lenny provides a comprehensive 3-step performance review system that he used at Airbnb: 1. Prepare: Gather direct feedback, capture their accomplishments, describe their “superpower”, write a short high-level summary of their performance, identify 1-2 development areas, share a career milestone timeline 2. Deliver: Schedule it, prep the narrative, bring paper copies, share their rating, walk through the details, share Compensation, create a follow-up plan, leave time for discussion 3. Follow-up: Schedule a one-hour monthly Coaching chat, review action items together, adjust as things progress, capture and share examples of what’s going well and isn’t throughout the year

Gergely summarizes his approach to performance reviews, with templates, and covers: • Prerequisites for fair perf reviews: levels, competencies, expectations • Bad performance reviews • Three observations about perf reviews at tech companies • How I do performance reviews: preparation, writing the review, removing bias & delivering it • Example performance reviews - and templates

Jared covers: • The problems that companies, managers, and employees often run into with performance reviews • An end-to-end performance review process that covers expectations, informal review, and formal reviews • A template that includes an Expectations assessment, Areas of Improvement from Last Review, What Else did the Team Member do Well?, and What Else Can the Team Member Improve?

Dave describes the 6 criteria he uses to review the performance of executives / department leaders: 1. I have a high degree of Confidence that [your function] will consistently execute well. 2. You have the skills, commitment, and Leadership necessary to lead your team for the company we aim to be in two years. 3. You’re chronically discontent with where the company and your department is today. 4. You exercise great judgement and wisdom when it comes to what’s critical to our business. 5. You have a paranoia and sense of urgency matching my own. 6. I’d trust you to meet one-on-one with our most critical constituencies on the most difficult topics.