Employee Performance Review is the best tool to motivate your employees and as a result, accelerate your company’s growth. But you may often face problems designing the best evaluation methods to serve the right purpose. So are you looking for the best templates for your employee performance review? Well, here is the solution to your problem. We have well-designed templates available in pdf and word format.

What is Employee Performance Review?

Employee Performance Review is also called Performance Appraisal or Performance Evaluation. Performance Review is the assessment of the employees by the managers to evaluate their competence, work performance, and strengths of them. It also provides feedback and further recommendations for the future. It is often conducted by the front-line managers after the end of the fiscal year or even some companies conduct it after a shorter period like six months or four months. It not only helps the company to assess the potentials of the workers according to the pre-determined criteria of the company but it is beneficial for the employees too. This interview helps them to get the answer of then questions like “What is the company expecting from me?” and “Am I working according to the expectation of the company?”  

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Employee Performance Review

Significance of Employee Performance Review:

Employee Performance Review helps to enhance the betterment of the performance of the company. It can also help organization effectiveness. It also facilitates communication between the managing staff and employees for the worker’s motivation. You can also create a factor of trust and a healthy competitive environment using it. You can easily set new goals and agendas after mass evaluation of the employees and evaluate whether previous expectations are met or not. Well-designed employee performance review documents help you to encourage your employees and reduce low job achievement due to eliminating negative psychological energy. It will also help you to evaluate the training requirement of employees. On whole, a well-designed template for the employee performance evaluation will help in the betterment of the individual and organization.

What are the methods of Employee Performance Template?

There are many methods of performance appraisal and its approaches. We will discuss some of them here so let’s start:

1.     Management by Objective

Management By objective is the method of evaluation that boosts the overall performance of the company. It is set rules or objectives that are defined by the employer and employee that will be part of the appraisal. The most important step is to evaluate each individual’s accomplishment against objectives defined by the organization. Its main advantage over other methods is that it enhances teamwork and trust in the organization.

2.     360- Degree feedback:

It is the type of performance evaluation based on the feedback of the employer, co-workers, and other staff members with their names in disguise. The goal of this type of evaluation is to assess the teamwork and organization of the employee. It is conducted once a year or after six months. This period may vary for different organization

3.     Psychological Appraisal

One of the best and initiative methods of conducting performance evaluation review is the psychological appraisal. As its name suggests it is the method in which intellectual, mental, emotional, and other traits of the employee are taken into account. It is a different method from others because all other methods are based on the evaluation of the past accomplishment of the employee but in psychological appraisal future performance of the employee is assessed based on the determined goals.

4.     Human Resource Accounting Method

The human resource accounting method is the method to write employee performance reviews by the monetary benefits earned by the employee for the company. It is often determined by comparing the cost to the company and the profit earned by the company due to that employee. Its benefits are often less than it harms.

5.     Assessment Centre Method:

Assessment Centre Method is the method for the evaluation based on some specified rules and objectives so that company can assess whether that particular employee fits for that designation or not. It is often a questionnaire or sometimes a simulation activity like informal discussions and meetings, decision-making problems, and other exercises. These all will not only help managers to evaluate past performance but also future expectations from an employee.

Tips to create the best performance evaluation review template:

Here are some tips you should consider to create best of the performance evaluation template:

ü    Performance Review should be a two-way conversation:

A two-way conversation between employees and managers is a healthy initiative. It helps career development and better outcomes for the organization. It should be an engaging conversation between them so that objective may be fulfilled.

ü Consider Future Performance:

Performance assessment review must focus on the future-oriented conduct of the employees. You should consider some past performance statistics to get an idea of the conduct of a certain employee. This can also be done by the method of psychological appraisals. Employees will only be discouraged when they will be evaluated on a past performance basis so it’s better to look forward because employees tend to change their futures.

ü Transparency of the evaluation review:

The accomplishment of each employee must be reviewed transparently. This means you should communicate the agendas and objectives of the company beforehand. You must notify them at the time when they have to start serving your organization. You also have to tell what the expectation of the company from that employee is so that he may knowledge what expectations and goals to meet before the evaluation process starts.

ü Be a mentor for the employees:

As a manager, you have a very amount duty of maintaining and bridging the gap between the employees and organizational objectives and goals. You should mentor them at every step even at their mistakes. This type of behavior will beneficial for the organization. You are in the same ship as your subordinates so be a mentor, not judge.

Feedback:

Once you have evaluated an employee and a performance assessment review is made you have to write feedback too. Feedback is very important for them. Along with mentioning areas where improvement is needed you must encourage your employees too. This will help them to try to improve their work conduct and behaviors. You must mention the future agenda and goal of the company along with expectations.

How to customize the Employee’s Performance Review Template:

• Download the most suitable workers’ performance evaluation template.
• Next, open the template and start editing and customizing according to your requirements.
• Enter additional fields if you want to add any other specification or question.
• Take your time while editing this template.
• Once this process is completed save the work.

 Your template is ready!! Be encouraging to your employees you are the traveler of the same ship.