. A Performance review is described as being based on the performance that the company or the employee delivers stating as to how much does it contribute in the level of raising the bars for the A good company gives importance to the performance reviews to check its competency against the existing companies in the market. it is not something that should be dreaded of.
For every company to progress, it is essential to have a Performance review. An accurate performance review enhances the potential of the employees and thus raises the standards of the company. And if it is inaccurate, then it can hamper the working of the employees and the company. An annual performance review makes you aware of your competition and lets you know how much do you need to improve.
The basis of a Performance review lies on the belief that it is critical for the progress of the company. The whole process of this is long and time consuming, so the companies may not feel like investing money and time in it but its long term benefit is that it helps in recognizing the hidden potential in the employees. You get to know who needs to work hard on what aspect. It is important to make an employee feel better about the role he is playing.
It is essential to prepare the Performance review process which is fair and coordinates with the legal norms of that place. It should be capable of delivering a meaning of supervising the employees and the staff and company on the whole.