All employees in an organization are given a set of goals,
they have to reach within the predetermined period.
This objectives are mutually set and
agreed upon between managers and employees.
Afterwards, performance reviews are conducted periodically to evaluate
whether employees are achieving these objectives, and to what extent.
Feedback is provided to employees at scheduled interval meetings.
If these goals have been reached,
employees are rewarded according to results.
To achieve clarity and understanding of goals, smart goals are often used.
Which means goals that are specific, measurable,
achievable, relevant and time bound.
Secondly, 360 Degree Feedback.
360 degree feedback is a method and a tool that provides each employee
the opportunity to receive performance feedback from his or
her supervisor and some of their peers.
In 360 degree feedback, typically between eight and
ten people complete questionnaires, all give structured feedback.
Describing the performance of the individual under review.
The reviewers represent different types of work relationships with the individual.
For example, they could be peers, direct reports,
more senior colleagues or even customers hence, the term 360 degree feedback.
360 degree feedback allows each individual to understand how his
effectiveness as an employee, coworker or staff member is viewed by others.