Many organizations carry out performance reviews annually. But, for employees, it is not enough as they need to receive regular feedback in order to understand how they are fulfilling and facilitating the company's corporate goals and to know the next steps in their career growth. So, it is important to provide continuous assessing performance and receiving feedback not only from the direct manager but the indirect managers, peers, and members of the team too.
In the last years, more and more popular become the performance management software systems that help companies to align their staff to corporate objectives as well as to measure and evaluate the company's results on the whole and performance of each employee on a continuous basis.
Thus, the performance management system enables improving employee engagement through feedback, recognition, and transparency.
Priorities of the business change frequently and quickly. There is no warranty that business goals at the beginning of a year will be the same a few months later. Therefore, companies need to review and even reconsider their goals frequently if they want to be productive and competitive.