Performance Review – Definition & Detailed Explanation – Follow-up Actions Glossary

What is a Performance Review?

A performance review, also known as a performance appraisal or evaluation, is a formal assessment of an individual’s job performance within an organization. It is typically conducted by a supervisor or manager and serves as a tool to provide feedback, set goals, and identify areas for improvement. Performance reviews are often conducted annually, although some organizations may choose to conduct them more frequently.

What are the key components of a Performance Review?

The key components of a performance review typically include:
1. Goal setting: Establishing clear and measurable goals for the employee to work towards during the review period.
2. Feedback: Providing constructive feedback on the employee’s performance, highlighting strengths and areas for improvement.
3. Performance evaluation: Assessing the employee’s performance against established goals and expectations.
4. Development planning: Identifying opportunities for growth and development, including training and skill-building activities.
5. Compensation discussion: Discussing any potential salary increases, bonuses, or other rewards based on performance.

How to prepare for a Performance Review?

To prepare for a performance review, employees should:
1. Reflect on their own performance: Consider their accomplishments, challenges, and areas for improvement over the review period.
2. Gather feedback: Seek input from colleagues, clients, and other stakeholders to gain a well-rounded perspective on their performance.
3. Review goals and expectations: Ensure they understand their job responsibilities and any goals set for the review period.
4. Prepare examples: Have specific examples of achievements and challenges ready to discuss during the review.
5. Set goals: Identify areas for improvement and establish goals for the upcoming review period.

What are common follow-up actions after a Performance Review?

Common follow-up actions after a performance review may include:
1. Development planning: Creating a plan for professional development activities, such as training, mentoring, or coaching.
2. Performance improvement plan: Establishing specific actions to address areas of weakness and improve performance.
3. Goal setting: Setting new goals for the upcoming review period based on feedback and performance evaluation.
4. Regular check-ins: Scheduling regular meetings with the supervisor to track progress and discuss any challenges or successes.
5. Recognition and rewards: Recognizing and rewarding achievements and improvements in performance.

How to set goals and create an action plan based on a Performance Review?

To set goals and create an action plan based on a performance review, employees should:
1. Review feedback: Consider the feedback received during the performance review and identify areas for improvement.
2. Set SMART goals: Establish specific, measurable, achievable, relevant, and time-bound goals to work towards.
3. Identify actions: Determine the steps needed to achieve each goal, including any training or skill-building activities.
4. Create a timeline: Establish deadlines for each action and goal to track progress and stay on target.
5. Seek support: Communicate with supervisors, colleagues, or mentors for guidance and support in achieving goals.

What are best practices for following up on a Performance Review?

Some best practices for following up on a performance review include:
1. Regular check-ins: Schedule regular meetings with the supervisor to discuss progress, challenges, and successes.
2. Track progress: Keep a record of achievements, milestones, and challenges to monitor progress towards goals.
3. Seek feedback: Request feedback from colleagues, clients, and other stakeholders to gain additional perspectives on performance.
4. Adjust goals: Be flexible and willing to adjust goals and actions based on changing circumstances or feedback.
5. Celebrate successes: Recognize and celebrate achievements and milestones to stay motivated and engaged in the performance improvement process.