Performance evaluation: A Bangladeshi employee’s perspective

Illustration: TBS

Rafiq, a young marketing executive, sat anxiously across his manager during his annual performance evaluation. Inflation had eaten away at his modest salary, and the rising costs of essentials weighed heavily on his mind. 

He hoped his relentless efforts—working late nights, meeting targets, and adapting to a shrinking budget—would translate into a well-deserved raise. Instead, the manager praised his dedication but offered only vague promises of future growth. 

Walking out, Rafiq felt a mix of disappointment and resolve. If his hard work wasn't enough here, perhaps it was time to find a place that valued both effort and survival. 

The annual performance evaluation process serves as a significant milestone for reflecting employees' contributions, challenges, and opportunities. However, given the current economic landscape, this evaluation process holds even greater importance.

The current economic context

Bangladesh's economy, while resilient, is experiencing challenges due to global and local pressures. The inflation rate has remained high, reducing purchasing power and increasing the cost of living. For employees, this means that salary adjustments tied to performance evaluations are more critical than ever. Coupled with the rising unemployment rate, competition in the job market has intensified, leading employees to focus on both job security and fair recognition of their contributions.

Employee expectations from performance evaluations

Recognition of efforts

Employees are striving harder to meet organisational goals despite personal financial strain. Amid the economic turmoil, employees expect evaluations to reflect not just their measurable contributions but also the resilience and adaptability they've demonstrated.

Fair compensation adjustments

With inflation driving up the cost of essentials, employees hope performance evaluations result in meaningful salary increments or benefits. A well-earned raise or bonus is not just an acknowledgement of hard work; it is also a necessity for maintaining a reasonable quality of life.

Career growth opportunities

Given the competitive job market, employees expect performance evaluations to provide clear insights into career development paths. Training opportunities, promotions and skill-building initiatives can foster motivation, especially during tough economic times.

Transparent and objective assessment:

Employees value a fair and transparent process where their work is evaluated objectively, free from biases. Constructive feedback that highlights strengths and areas for improvement helps employees feel valued and supported.

Challenges employees face during evaluations

The following challenges are faced during evaluations:

Economic pressures affecting performance

Rising living costs and financial stress can impact productivity and mental health, yet these external factors are often overlooked during evaluations.

Uncertainty in organisations

Many companies are struggling to sustain operations amidst economic challenges, leading to budget cuts and limited capacity for salary hikes. Employees are concerned about their efforts being undervalued or dismissed due to organisational constraints.

Limited communication

In some organisations, performance evaluations are seen as a formality rather than an opportunity for dialogue. This can leave employees feeling disconnected from the process and unsure about how their efforts align with organisational goals.

Effective performance evaluation should consider

Employers should take the following into account:

Empathy and support

Managers should acknowledge the broader economic challenges employees face and offer empathy during evaluations. Recognizing external hardships fosters a culture of trust and mutual understanding.

Link performance to realistic rewards:

While not all companies may afford significant raises, non-monetary benefits such as flexible working hours, wellness programs, or additional leave can be offered as alternatives.

Regular feedback:

Employees benefit from ongoing feedback throughout the year, rather than waiting for annual evaluations. This approach allows them to address issues early and stay motivated.

Tailored development plans

Organisations should focus on personalising development plans that align with individual employee goals and the company's objectives, ensuring long-term growth for both parties.

Conclusion

The annual performance evaluations should go beyond a mere review of past achievements. They should serve as a platform for open communication, fair recognition, and meaningful support. Employees, despite the hurdles, remain committed to their roles and look forward to evaluations as a tool for growth, security, and motivation in these uncertain times. By adapting the evaluation process to reflect the realities of today's economic climate, organisations can strengthen their workforce and foster a culture of resilience and mutual success.

Sketch: TBS

The author is a fellow member of the Institute of Chartered Accountants of Bangladesh. He can be reached at rajibsaha.fca@gmail.com

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the opinions and views of The Business Standard.