When you define your organisation’s performance review meetings, it is important that you ask yourself:
- What is the ideal meeting structure for your organisation (when, what, who)?
- What is the optimal meeting frequency (number of meetings) and cadence (timing and pattern)?
- What is the right decision authority related to the various aspects of the performance review process?
- What is the best approach to track and monitor the tasks defined at your performance review meetings?
Step 2 – Define your annual performance review cycle
When you have defined the necessary performance review meetings, the second step is planning your annual performance review cycle in alignment with other business-critical activities. Most companies have annual cycles related to budgeting, target-setting, risk management and strategy configuration. These are all relevant activities with close ties to performance management, and ideally, you should use a proactive performance management setup relying on leading KPIs as a critical input for all the before-mentioned activities.
Consequently, it is important that you plan your organisation’s performance review cycle with these other annual activities in mind.