A timely review of an employee’s performance ensures that the employee remains dedicated to his work while giving the management an opportunity to implement any changes, hikes or training that may seem necessary.
Moreover, since enforcing performance review policy ensures regular reviews, it also acts as a powerful motivational tool for employees to perform up to their best potential.
A performance review policy also outlines optimal goal setting, employee training and rewards, employee’s interaction with his/her supervisor acting as an important HR tool to manage the ability, potential and aspirations of an employee.
Since employee performance review also acts as a base for the employee’s bonus and appraisal, it further does another integral job.
Our company believes in bringing out the best in its employees. This not only helps us reward optimally but also offer time to time trainings and assistance and build a competitive team.
This performance review policy outlines how and when we evaluate the performance of our employees, reward and encourage communication and learning across multiple levels within the company.
Scope of the Performance Review Policy
The performance review policy applies to all employees unless otherwise mentioned.
The outcome of such a review will help us reward optimally, give constructive feedback, set encouraging goals and offer our employees development opportunities.
What Accounts as Optimal Performance
The company has set minimum performance requirements that every employee is expected to adhere to:
- Complete all job responsibilities.
- Regularly meet your targets and progressively outperform your previous performance.
- Support your team efficiently
- Be open to new opportunities and learning.
- Follow the company’s code of conduct.
The Performance Review Process
Employees’ performances will be reviewed on a quarterly basis.
The review process will include self-assessment and assessment by your immediate manager/ supervisor or both.
Self-review includes reviewing one’s own performance based on the facilities and resources provided by the company. This helps us evaluate and decide upon resources that will help elevate your performance.
Your immediate supervisor and managers will participate in a Management Review where they will rate your growth and performance. This review plays a vital role in employees’ bonuses and increments as well as promotions.
Training and Rewards
Your performance review is critical for your yearly bonus as well as an increment.
Post your performance review if it is felt that training in some areas can amplify your performance, you will be given opportunities to be trained and grow your skills.
If you are a manager or a team leader expected to lead and manage a team, you may also be responsible to ensure optimal performance, conduct performance review meetings and interviews from time to time. For this purpose, you are expected to follow the below-listed code of conduct:
- Set clear and achievable objectives that motivate employees to push their limits without giving up too soon.
- Be easily approachable and open to communication ensuring that the employee gets a clear opportunity to voice his/ her ideas and opinions.
- Track the performance and progress of specific teams as well as their individual team members.
- Offer timely and fair constructive feedback.