Term: Performance Review

What Is a Performance Review?

A performance review is a structured evaluation of an employee’s performance over a specific period. It typically looks at achievements, goals, strengths, challenges, areas for improvement, and development needs.

A performance review gives managers and employees an opportunity to discuss progress, recognize contributions, address performance gaps, and agree on priorities for the next period.

Why Is a Performance Review Important?

A well-structured performance review can help organizations:

• Evaluate progress against goals and expectations
• Recognize employee achievements
• Identify performance and development gaps
• Provide meaningful feedback
• Set priorities for the next period
• Inform employee development decisions
• Strengthen accountability

What Does a Performance Review Include?

A performance review may include:

• Goal Progress – Reviewing progress against agreed objectives and outcomes.
• Achievements – Recognizing important contributions and results.
• Strengths – Identifying capabilities that contribute to effective performance.
• Development Areas – Highlighting skills or behaviors that may need improvement.
• Feedback – Sharing constructive feedback between managers and employees.
• Next Steps – Establishing future goals, development actions, and priorities.

Performance Review vs. Performance Management

A performance review is a specific evaluation of an employee’s performance, usually conducted periodically.

Performance management is the broader, ongoing process of setting expectations, tracking performance, providing feedback, coaching, supporting development, and maintaining accountability.

A performance review can therefore be one part of an effective performance management process.

Performance Reviews at MyTalentPlanner

MyTalentPlanner takes a broader approach to performance by connecting performance information with goals, development plans, 1:1 meetings, behavioral insights, and accountability.

This allows performance conversations to go beyond reviewing what happened in the past and help identify what needs to happen next to support employee growth and business goals.

Performance Reviews for SMBs

For small and midsize businesses, performance reviews can provide structure to conversations that might otherwise happen informally or only when a problem arises.

When combined with regular 1:1 conversations and development actions, performance reviews can help leaders maintain alignment, address challenges earlier, and support continuous employee growth.