Performance Review – Also known as employee appraisals or performance evaluations, performance reviews are a regular, recurring evaluation of an employee’s performance in their role. It is a formal assessment in which the employee’s manager will fully evaluate the employee’s performance in the workplace, identifies any strengths and weaknesses they have noticed, offers feedback, and sets goals for their future performance.
Previously, most companies did their performance reviews annually for their entire workforce, which was time consuming for managers and HR, and also wasn’t frequent enough for many employees. Nowadays though, more and more companies are shifting to a frequent feedback performance management system in which managers conduct quarterly, monthly, or even weekly reviews. In fact, some organisations are doing away with formal performance reviews entirely, as they have built a culture and dynamic where employees can offer feedback to each other on a regular, informal basis.
When done with mutual respect and consideration, performance reviews can help employees understand where their strengths are, what areas they need to grow in, and what their manager’s expectations are. They are a good opportunity to touch base on what factors are affecting the employee, both good and bad. It’s a good opportunity to discuss what they company, and the manager can do to improve the employee’s satisfaction at work by offering reasonable support and encouragement.
Read more about the importance of performance reviews here.