1. Periodic Employee Review
Human Resources Management – Periodic Employee Review
New Hire Process
Periodic Employee Review
Description: This workflow describes all the steps required to conduct a formal performance review of an employee within the firm. This is an important part of properly managing human resources, providing / collecting feedback, and continuing to motivate the firm’s workforce to advance their career and make improvements on behalf of the firm. At minimum, a firm should conduct a performance review of each employee on a yearly basis. Typically the Periodic Employee Review is conducted prior to the firm’s salary review in order to tie the employee’s performance directly to the employee’s salary.
Process Checklist
PREPARE
ROLE
TASK
DETAILS/TIPS
Advisor
Schedule Employee Review & Solicit Feedback
Due: 2 Weeks Before Meeting
When scheduling be sure to take into consideration the amount of time that is required to complete any performance review documents needed for this review
Book the room, resources, and attendees for the review
Typically this is just a one-on-one review between the Advisor and the employee to keep the discussion private and personal for the employee
In preparation for the review, request all appropriate parties complete a performance review form on the employee of interest
Consider creating a performance review template that can be used over and over, so that it’s easy to compare past and future reviews for tracking progress towards previously set goals or implementation of past feedback
Performance review forms should not just be completed by the Advisor and the employee, but also any other parties who regularly work with the employee on an regular basis to ensure the review is comprehensive
“Performance Review” template (right-click underlined text to open hyperlink to template)
Request the employee prepare any feedback for management
This could be feedback unrelated to the employee’s individual performance review, such as ways management can improve the way the business is organized or runs today
Review Employee‘s Progress Toward Goals
Due: 1 Week Before Meeting
Complete and collect all performance review documents from all relevant parties
Be sure to file these documents internally for record-keeping purposes
Review previously set goals and track the employee’s progress
If possible, compare past performance review documents with those recently completed to ensure better tracking of goals and feedback
Identify the employee's accomplishments and opportunities for improvement
This is an opportunity to identify employee accomplishments that should be celebrated as well as prepare any constructive feedback for the employee
Create Employee Review Packet
Due: 3 Weeks Before Meeting
Prepare any goal review or compensation documents to present during the review
Consider whether you want to provide these documents to the employee before the review to set expectations or to provide the employee with time to review them for any questions or concerns
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© 2015 SEI. This information is proprietary.  No further distribution is intended.

2. Periodic Employee Review
Human Resources Management – Periodic Employee Review
New Hire Process
Periodic Employee Review
Process Checklist
CONDUCT
ROLE
TASK
DETAILS/TIPS
Advisor
Conduct Employee Review
Present the review packet to the employee and review progress to goals
Review the employee's accomplishments and opportunities for improvement
Be sure to celebrate the employee’s accomplishments to keep the review positive so the employee feels empowered to keep working and achieving
Collect feedback from the employee and answer any questions
Obtain the employee’s sign-off on the goals set forth in the review packet
It’s important to ensure the employee feels the goals are ambitious but also attainable so there’s motivation to strive towards that end result
Process Checklist
FOLLOW-UP
ROLE
TASK
DETAILS/TIPS
Advisor
Oversee Tasks to Monitor Employee
Due: 1 Week After Meeting
Review notes from the review and determine if any changes should be made to goals or processes
Redistribute the updated review packet to the employee and file it for record-keeping purposes
Discuss any decisions or changes internally, as appropriate
This step is important if any firm processes must change based on the discussions during the review
Launch the "Periodic Employee Review" workflow again
Typically this is launched on a yearly basis to continue to track the objectives and goals laid out in the employee’s review packet
sei.com/advisors
© 2015 SEI. This information is proprietary.  No further distribution is intended.