Performance Review

What is Performance Review

A performance review, also known as a performance appraisal, employee evaluation, or development discussion, is a formal assessment of an employee's work performance over a specific period. It's typically conducted by their manager and involves discussions about achievements, areas for improvement, and setting goals for the future.

Here are some key aspects of performance reviews:

Purpose

  • Provide feedback: Employees receive structured feedback on their performance, strengths, and weaknesses.
  • Identify progress and development needs: Evaluates progress towards objectives and determines areas where the employee can enhance their skills and knowledge.
  • Set future goals: Establishes new goals and objectives for the employee to work towards in the next evaluation period.
  • Align performance with company goals: Ensures individual performance aligns with broader company strategies and objectives.
  • Inform compensation and promotion decisions: Performance reviews often play a role in determining salary adjustments, bonuses, and promotion opportunities.

How it works

  • Frequency: Evaluations can be conducted annually, twice a year, or even more frequently, depending on the company and position.
  • Process: Typically involves self-assessment by the employee, followed by a meeting with their manager to discuss feedback and goals.
  • Metrics: Performance is assessed based on pre-defined criteria specific to the role and responsibilities. These might include productivity, quality of work, teamwork, communication, and problem-solving skills.
  • Outcomes: The evaluation results in a documented report summarizing the employee's performance, feedback, and future goals.

Benefits

  • Improved performance: Regular feedback and goal setting can motivate employees to improve their performance.
  • Increased engagement: Open communication and clear expectations can boost employee engagement and satisfaction.
  • Better alignment: Aligning individual goals with company objectives creates a more focused and effective workforce.
  • Talent development: Identifying development needs helps employees build their skills and stay competitive.
  • Fair compensation and promotion: Evaluations provide a basis for fair and objective decisions about compensation and career advancement.

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