Why do performance reviews?
The evaluation of the performance is the way by which the company can measure the skills, talents and abilities of the staff. The performance review will give a chance for the manager and the employee to discuss about the employee’s stand in the company. The employee will be assessed for his/her work delivery on daily basis, the attendance of the employee, the behavior of the employee with the colleagues and the higher authorities, and so on. These aspects will be discussed by the manager with each of the employees in the performance review. The performance review will make the manager and the employee to come to the conclusion what would tell the current status and improvement of the employee further as a next step.
To evaluate the above aspects of the employee working in a company, the performance reviews are conducted once in every month or quarterly or annually. The appraisals of the newly joined employee will be frequently done to understand the improvement and adjustment of the employee for the roles and responsibilities that were offered to him or her.
The main purpose of the review of the performance being done regularly is to assess and keep in track of the work done by the employee. The employee will be given a regular feedback. The performance reviews will help the management to think whether to consider the candidate for the promotion or not. The performance assessment will give a clear picture for the employee to know about the area of improvement and give him/her an opportunity to learn further.
The plan for the development can be prepared with active and smart goals in the area to be worked on. The goals that have to be set should be measurable, actionable, realistic, specific and time bound. The company will have a certain pay scale for certain rating or ranking of the employees. So the merit of the employee can be fixed by performance review. Performance review is a joint work out of the manager and the employee where each one of them will include their own inputs.