Many people (including this site) have encouraged dumping the current performance review process and replace it with a more effective system, however, we believe a great performance appraisal process can result in great things.

We actually love the performance review process – when it’s part of an effective performance management cycle. There are some great things that can be accomplished with an effective performance review process, including:

1. Motivation through achievement and proper feedback
2. Defining and clarifying objectives and goals
3. Aims and targets to motivate employees
4. Identifying and building personal strengths
5. Communication between manager and employee
6. Resolve misunderstandings
7. Counseling employees to achieve high performance
8. Develops quality managers in your organization
9. Identify training needs for employees
10. Clarify team roles and identify weaknesses and strengths on the team
11. Organizational strengths, weaknesses, and training opportunities
12. Setting organizational goals and vision and aligning employees to meet them
13. Delegation of responsibilities to employees
14. Career and succession planning

There are many rewards for a high quality and effective performance management process.