What is a Performance Review?
A performance review is a formal assessment of an employee’s work performance by the employer or manager. This review helps in identifying the strengths and weaknesses of the employees, offers feedback and sets goals for future performance. Performance reviews are also known as performance appraisals or performance evaluations.
Benefits of Performance Reviews
- Improves overall performance of the employees and the organization
- Increases employee engagement
- Identifies promotion opportunities
- Identifies training needs
- Strengthens relationships and loyalty