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At the end of the year, it will be that time again: In many companies, executives and employees get together as usual for the usual feedback discussions to discuss successes, goals achieved, and new tasks. Some employees are happy to receive the recognition they deserve from their line manager. Others feel like they have been shown up in their performance reviews and fear an unjustified judgment. In many companies, the end of the fiscal year occurs during the year, and the employee appraisals are just around the corner. We want to explain why it’s essential and also prepare a template for you for the performance review.
What is a performance review?
The HR instrument, also known as employee appraisal or personnel appraisal, is used primarily to make personnel planning and controlling within a company more efficient. Performance review is a critical measure of an employee's performance and an essential part of an employee's ongoing professional development. It provides a formalized mechanism for the employee and manager to discuss the nature of the employee's work, review the employee's performance based on previously developed goals, and set goals for the upcoming appraisal period.
Why it’s so important?
Performance reviews can be conducted for a variety of reasons. Which specific goals are pursued depends on various factors, such as the orientation and size of the company and the personnel structure.
Through regular assessment, you get to know the employees and their strengths better. You can use them more specifically based on their skills—promoting regular discussions between employer and employee. Based on the personnel appraisal, different instruments can be used - such as: career planning or further training. Performance reviews very often form the basis for a raise. Company goals are brought closer to the employees.
How often should you conduct the performance review?
Employee reviews usually take place every six months/year. During six months, however - this is very important - assessments of the current situation, performance reviews, feedback discussions, the status of the degree of target achievement, project appraisals, and interim appraisals should take place. It makes it possible to react faster to deficits, and necessary corrections can be made. It is also about ensuring a permanent feedback dialogue, optimizing the quality, acceptance, and timeliness of the actual employee assessment.
Performance review template from Brainy HR
We want to make sure you're using employee reviews for good—so we did the heavy lifting and created an impactful performance review template for you!