A performance review is a periodic structured assessment of an employee's performance against expectations, conducted by their manager. Also called performance evaluation, performance appraisal, or annual review. Some companies add input from peers and direct reports via 360-degree review. Used for compensation decisions (raises, bonuses, equity refresh), promotion discussions (level changes, expanded scope), and developmental feedback. Most performance reviews are too infrequent (annual cycles miss most of the year's performance) and too vague (ratings like "meets expectations" don't drive behavior change) to actually accomplish their stated purpose. It is one of the most-implemented and least-effective HR disciplines at...