Performance Templates

General FAQs

• What is Performance Evaluation?

  Performance evaluation is a process of identifying and assessing an individual's excellence, faults, competencies, productivity, etc. at work or art. This evaluation helps to conclude the individual capabilities of people around you and helps to expect a limited output or input from them. 

• How to Evaluate Performance?

  • Set a performance standard for judgment or assessment. 
  • Set some goals. 
  • Monitor the performance carefully. 
  • Take note of every action of different individuals separately. 
  • Play an unbiased role and be specific while criticizing. 
  • Do not show compare and contrast notes.  
  • Do not go personal in the evaluation process.
  • Give feedback. 

• What is the Purpose of Employee Evaluation?

  • It helps employees understand organizational expectations. 
  • It gives an understanding of employees' strengths and motivations to the team manager. 
  • The managers can give helpful advice and feedback to the employees to improve future performance.  
  • It helps to get objective reviews on individual performance that helps in fair promotions and bonuses. 

• What are the Key Indicators of Business Performance?

  • Net profit margins. 
  • Growth in revenue in an expected period. 
  • Gross profit margin. 
  • Cash flow for business operations. 
  • Current accounts receivables. 
  • Inventory turnover. 
  • Earnings before interest, tax, depreciation, and amortization (EBITDA).

• How to Manage Effective Employee Performance?

  • Set clear and achievable expectations. 
  • Simplify the work process. 
  • Provide performance coaching or training. 
  • Empower employees. 
  • Provide feedback frequently. 
  • Assign goal-oriented works. 
  • Keep measuring performance. 
  • Make the employees realize the importance of their contribution. 
  • Make the work environment more cheerful.