This may seem a bit vague so let me clarify a bit. People want to know how they and their teams are doing. If your company is like most, this happens during assessment times or sometimes if something is really serious it may happen immediately.
Why does input on status need to be only during set times? If we subscribe to the idea that reinforcement is best used as close as possible to the behavior you want to drive, then waiting for an annual or quarterly review is not going to cut it.
If you care about creating connection on your team, then providing regular status updates on how each of them are doing is essential. This does not have to be formal! In fact, it should be "organic." As you provide active supervision or when you are interacting with individual team members practice providing specific and meaningful input on how they are doing. Be truthful and be sincere otherwise it is going to get awkward during the formal review process. And oh yes, it is a huge display of respect.
We Are Competitive By Nature
In times of down turn (like now in the Energy Sector) people not only want to know how they are doing (read: Am I contributing to the success of the team?) but they want to know how the company is doing compared to the competition. Don't miss out on a powerful opportunity to unite your team around a common challenge! No matter where I provide training for Operational Excellence when groups really get going with this process almost universally they will start exploring how their performance is stacking up against the competitions.
I recall in one case where every time I came onto a lease I would be greeted with either a chorus of questions about how the competition down the road was doing or a chorus of "inside" information that the other company had suffered a six hour down time and so on. Client representatives were actually pretty impressed by the competitive spirit on these crews and commented on it several times.
Create A Habit
A personal or team status update is a meaningful way to communicate that someone is in fact part of the group. Practicing regular updates individually and with the team is an easy way to foster connection. Get into the practice of when you see something you like, make sure you tell that person. It is a great habit to foster. Performance Leadership - Think About It!