A Performance Review (also known as a performance appraisal or evaluation) is a formal, structured process where a manager assesses and documents an employee’s job performance and behaviors over a specific period, typically six or twelve months.
This evaluation is not just a rating exercise but a crucial two-way conversation that provides employees with constructive feedback on their achievements, strengths, and areas needing development, often including a self-assessment component.
Performance reviews and the performance management process
In the context of performance management, a performance review is an opportunity to connect past performance and future growth, and to evaluate the effectiveness of the ongoing feedback, coaching, and goal-setting that occurs throughout the year.
It is also a point at which managers and employees can establish new SMART goals and plan professional development initiatives.
A dedicated employee review software helps facilitate the employee review process by allowing managers to clearly record and refer to previous and current reviews, and assess employee performance according to defined goals or benchmarks.