An HR Glossary for HR Terms

Performance Review

What is a Performance Review?

Performance review, or performance appraisal, refers to regularly screening an employee’s performance and overall contribution. Managers, supervisors, or stakeholders mainly conduct this review to assess an employee’s work performance.

Why is Performance Review Important?

A performance review is essential because it contributes to the company by gaining insightful information on employees and managers. Here are some of the reasons why performance review is fundamental:

  • It provides feedback to the employee and brings awareness to their strengths and weaknesses.
  • It allows the managers or supervisors to review and alter their current strategies/goals.
  • It allows both employees and managers to identify the gaps in development. 
  • It informs the managers to adjust employees’ promotions or salaries reasonably.
  • It boosts employee and manager engagement and eases the overall communication between them.
  • It identifies employees’ skill sets and helps the manager to create a personal career path.

The List of Popular Software for Performance Review:

  1. Peoplebox
  2. BambooHR
  3. ADP Workforce Now
  4. Workday 
  5. Gusto
  6. Lattice
  7. Oracle

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