Build a Performance Management Process to Drive Growth and Engagement Year-Round
- Deanna Perkins
- 2 hours ago
- 4 min read
Be honest: Do annual performance reviews inspire real growth in your firm? They’re often too late, too vague and too focused on the past. For many firms, they’ve become more of a checkbox than a meaningful conversation.
But that’s starting to change.
Forward-thinking firms are redesigning their performance management process to be more continuous, personalized and impactful. Instead of saving feedback for once a year, they’re building systems that encourage regular check-ins, goal tracking and open dialog. The result? Teams that feel more engaged, supported and aligned with the firm’s long-term goals.
At Boomer Consulting, that shift is already well underway, and the lessons we’ve learned can help your firm make performance management a real driver of growth and retention.
Why the annual review model falls short
Traditional annual reviews tend to focus on backward-looking performance summaries and generic ratings that sometimes catch employees off guard.
That’s likely why only 14% of employees strongly agree their performance reviews inspire improvement. Delayed feedback, vague comments and a lack of development-oriented discussion limit the value of these once-a-year meetings.
For firms striving to attract and retain top talent, this model isn’t enough.
Designing a year-round performance management process
At BCI, our Operations Manager, Jacqueline Lombardo, worked with our leadership team to shift performance management from a check-the-box exercise to a growth-focused system rooted in regular conversations, peer feedback and alignment with personal goals and firm strategy.
Here’s how that looks in action.
Career-focused conversations
Once a year, every team member has a Growth Path Meeting. The goal of these meetings is to understand where each person wants to go in their career. These conversations don’t lock them into a specific trajectory, but they start a dialogue.
This conversation allows managers to align development opportunities (like job shadowing or targeted training) with individual aspirations. Whether someone’s aiming for leadership or exploring a specialty area, the firm begins investing in that journey right away, while they’re still thriving in their current role.
Quarterly check-ins that build momentum
Each quarter, managers hold 90-minute meetings with their direct reports to reflect on progress and plan ahead. These aren’t quick status updates. They’re structured conversations that cover:
What went well last quarter
Goals for the upcoming quarter
Support needed to succeed
Feedback on core competencies
Every role at BCI includes five core competencies, and managers use a 1–5 scale to assess performance in each. This self-evaluation model creates a balanced conversation and encourages employees to take ownership of their development.
If an employee scores low in a competency—say, collaboration—it’s not a reprimand. It’s a signal that there’s room to grow, perhaps by seeking out more team-based projects or accepting help rather than working in isolation.
Real-time feedback as a daily habit
To support ongoing development, we equip managers to give in-the-moment feedback during weekly one-on-one meetings. These brief, focused conversations cover what employees are working on and any coaching they need for immediate challenges.
Crucially, feedback is specific. Rather than vague praise like “You’re good with clients,” we train managers to share examples: “The way you calmed the client during last week’s meeting helped them move forward confidently.”
This approach builds trust and clarity and ensures no one is surprised at quarterly check-ins.
Team-sourced feedback with accountability
We also invite peer feedback through our HR system, BambooHR. We ask team members to share insights about what their colleagues do well and where they can improve, again using concrete examples. This system gives managers a broader perspective and helps identify patterns rather than one-off incidents.
Again, we train employees on how to give constructive feedback so the process is helpful. It’s a tool to help people see their blind spots and grow from them.
Managers become coaches
When someone brings an interpersonal issue to a manager, the instinct might be to step in and solve it. But we encourage managers to coach team members to address concerns directly. This builds communication skills, resilience and peer accountability, which are all essential traits for anyone aspiring to grow into leadership.
Shifting culture requires a process (and patience)
Moving away from annual reviews doesn’t just involve adding more meetings to the calendar. You have to change the mindset around performance from compliance to curiosity, from correction to coaching.
No system is perfect on day one, but firms that prioritize frequent, honest conversations create stronger engagement and smoother development paths. In fact, research from Gallup shows 80% of employees who report receiving meaningful feedback in the past week are fully engaged.
If you’re ready to modernize your firm’s performance management process, begin with these steps:
Establish regular check-ins—quarterly is a good cadence to start
Define competencies for each role and create a simple evaluation scale
Encourage self-assessment alongside manager feedback
Train teams to give effective, specific feedback
Use technology to gather input and track progress
Make career conversations part of the culture, not just a formality
Modern performance management creates momentum for individuals, teams and the firm as a whole. When done right, it builds trust, transparency, and engagement that lasts far beyond a single review cycle. If you're ready to move past the annual review, start the conversation and then keep it going.
Could your firm’s HR and talent leaders benefit from a peer network?
The Boomer Talent Circle is a community of talent leaders from forward-thinking firms who are committed to aligning human resources and firm strategy at the highest levels. Apply now to start shaping your firm for the future.
As the Solutions Manager for Boomer Consulting, Inc., Deanna works to help clients and prospective clients identify their dangers, opportunities and strengths. Once these are identified, she works to develop a personalized game plan for their firm to focus on the area, or areas, they need to improve on most. These areas are critical to a firm’s success and future-readiness; Leadership, Talent, Technology, Process and Growth.