Why am I obsessed with quarterly reviews?
It's quite straightforward. Clients who implement them almost always gain a clearer understanding of what each Account Executive (AE) needs to succeed. And AE’s who actively participate in them, coming prepared with a review of the last quarter’s performance and a plan for the upcoming quarter, are more engaged and prepared for success than those who don’t.
What Quarterly Reviews Achieve
1. Clear Responsibilities
AEs know EXACTLY what they are ultimately responsible for. There is no ambiguity about their role and what is expected of them.
2. Freedom with Boundaries
It gives them the freedom to run their show while keeping the company's KPIs front and center. It’s all about striking that perfect balance for a win-win situation. It gives them the freedom to manage their business while prioritizing the company's KPIs.
3. Solution-Oriented Approach
Helps AE’s identify and focus on solutions to their revenue gaps. Instead of getting overwhelmed by problems, they can concentrate on finding and implementing effective solutions.
4. Easier Goal Achievement for Managers
Managers find it easier to achieve their goals because they have a team of engaged employees.
5. Engaged Employees
Regular reviews and feedback make employees feel valued and heard, leading to higher engagement levels.
The Deeper Benefits of Quarterly Reviews
1. Encourages Self-Assessment
AE’s are encouraged to assess their own performance, which leads to self-awareness and a desire for self-improvement.
2. Improves Performance
Regular reviews and feedback help in identifying areas of improvement and taking necessary actions to enhance the AE's performance.
3. Fosters a Heightened Accountability
Quarterly reviews instill a sense of responsibility among the AEs. This periodic assessment prompts them to stay committed to their goals, be proactive in addressing challenges, and be accountable for their actions and results.
4. Increases Employee Satisfaction
When employees know that their efforts are being recognized and any challenges they face are being addressed, it leads to increased job satisfaction.
5. Drives Continuous Improvement
Regular feedback and identification of areas for improvement help drive continuous improvement in the AE’s performance and overall business operations.
Conclusion
Quarterly reviews are essential for creating a culture of accountability, achieving budget goals, and driving continuous improvement in business operations.
If you haven’t already started conducting quarterly reviews, it’s time to begin. Your AE’s, clients, and business will be all the better for it.
