Question

In what 3 cycles are most performance reviews conducted?

Answer 1

This is termed as the Performance management cycle which is done to improve the efficiency of the workforce(from managers to the employees) altogether in order to fulfil the tasks of the organisation or to scan the objectives of the organisation.

The 3 cycles in which the most performance reviews conducted are:-
1. Monitoring.
2. Rating.
3. Rewarding.

1. Monitoring: In this cycle, the performance of an employee is constantly measured by the group of people, appointed by the company based on the consistent feedback of their work. Monitoring this way helps the company to detect any issues/problem at an early stage and enables them to resolve it as soon as possible.

2.Rating: In this step, the company evaluate the performance of the employee. Evaluation allows a management not know exactly which part of their team is necessary for which outcome. Teams or individuals can then be divided into different categories and therefore effectively analyzed to find out the key areas they have been lacking behind and then they can try to discern the reason behind. All this can only be possible if the management has facts regarding the potential work input of everybody.

3.Rewarding: In this step, The company provide the incentive to the employees and gives rewards based on an individual’s performance by comparing the equity between different employees and creating a sense of achievement. This keeps the workforce motivated.

When such techniques of employee management, motivation and direction are employed in an ongoing project, a company creates a workforce that excels in the everyday functioning of the company and therefore, a management effectively creates an environment that is both stress-free and motivating.