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You want to be a better leader. How can you use performance evaluations to get there?

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As a commercial real estate professional, you know that leadership is not only about managing your own projects and clients, but also about developing and motivating your team. One of the most effective tools to achieve this is performance evaluation, a systematic and regular process of assessing and providing feedback on your team members' work results, skills, and behaviors. In this article, you will learn how to use performance evaluation to become a better leader in four steps: setting clear and realistic goals, conducting fair and constructive reviews, rewarding and recognizing achievements, and fostering continuous improvement.

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1 Set clear and realistic goals

The first step to use performance evaluation as a leadership tool is to set clear and realistic goals for your team members, aligned with your organization's vision, mission, and strategy. Goals should be specific, measurable, achievable, relevant, and time-bound (SMART), and communicated clearly and consistently to your team members. By setting SMART goals, you will help your team members understand what is expected of them, how their work contributes to the overall success of the organization, and how they will be evaluated.

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Hassnain C.

Dynamic Finance Professional | Finance Leader Pivoting to Commercial Business Finance | CFA Level 2 Candidate | ACCA Member
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Utilize performance evaluations as a tool for leadership development by setting clear performance objectives, providing constructive feedback, identifying areas for improvement, recognizing achievements, fostering open dialogue, and establishing a culture of continuous improvement.

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2 Conduct fair and constructive reviews

The second step to use performance evaluation as a leadership tool is to conduct fair and constructive reviews with your team members, at least once a year, or more frequently if needed. Reviews should be based on factual evidence, not personal opinions or biases, and cover both the strengths and areas of improvement of your team members. You should also provide specific and actionable feedback, using examples and data, and avoid vague or general comments. By conducting fair and constructive reviews, you will help your team members identify their achievements and challenges, recognize their value and potential, and improve their performance and satisfaction.

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3 Reward and recognize achievements

The third step to use performance evaluation as a leadership tool is to reward and recognize the achievements of your team members, based on their performance results and behaviors. Rewards can be monetary, such as bonuses or commissions, or non-monetary, such as career advancement opportunities, training, or recognition. You should also celebrate the achievements of your team members publicly, such as in meetings, newsletters, or social media, and express your appreciation and gratitude. By rewarding and recognizing achievements, you will help your team members feel motivated, engaged, and loyal, and foster a positive and supportive work culture.

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4 Foster continuous improvement

The fourth step to use performance evaluation as a leadership tool is to foster continuous improvement in your team members, by providing them with ongoing support, coaching, and feedback. You should also encourage your team members to set their own personal and professional development goals, based on their performance evaluation results, and help them achieve them. You should also create a learning environment, where your team members can share their best practices, experiences, and challenges, and learn from each other. By fostering continuous improvement, you will help your team members grow their skills, knowledge, and confidence, and prepare them for future opportunities and challenges.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Makela P.

Commercial real estate & leasing
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Barking orders never build a positive team dynamic. Successful leaders remain open-minded, actively listen to others' ideas, and encourage team members to take charge of tasks. A true leader is humble and effectively creates opportunities for leadership to emerge from within their team. At the heart of leadership lie essential components like trust, influence, attentive listening, and mutual respect. Just as you'd go the extra mile for the people in your life, good teams help each other out, making leadership stronger.

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Michael Haltman, Hallmark Abstract Service

CEO, Hallmark Abstract Service (New York Title Insurance); Board Chair Combat Veteran Heroes To Heroes Foundation; Podcast Host 'Do You Ever Wonder?'
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If the people that work for you have not reached the goals set for them perhaps the issue can be theirs, but it can also be on those who lead them. As the CEO of my company, it's my job to lead by example, provide constructive ideas for salespeople, listen (actually listen) to what they view as impediments to success, set reasonable goals, and serve in a role as a quasi-therapist getting them through difficult times. Results are a group effort!

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You want to be a better leader. How can you use performance evaluations to get there?

1

2

3

4

5

1 Set clear and realistic goals

2 Conduct fair and constructive reviews

3 Reward and recognize achievements

4 Foster continuous improvement

5 Here’s what else to consider

Commercial Real Estate

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You want to be a better leader. How can you use performance evaluations to get there?

1

2

3

4

5

1 Set clear and realistic goals

2 Conduct fair and constructive reviews

3 Reward and recognize achievements

4 Foster continuous improvement

5 Here’s what else to consider

Commercial Real Estate

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