Also called semi-annual ratings, biannual performance reviews are conducted formally twice in a year for rating an employee’s performance. Performance assessment, goal setting, and identifying development areas all become important items in the agenda of such assessment meetings. These are very important touchpoints in the entire game of reference of feedback, recognition, and growth in a career. Therefore, more frequent feedback and course correction are possible with this arrangement as compared to the traditional annual reviews. This will keep the employees focused on their goals, allow them to resolve performance issues at an early stage, and also recognize and articulate their contributions more frequently. This would allow more fluid reallocation of goals and priorities as business needs change over time. They are one of the most crucial devices in generating a culture of continuous improvement.
Ideal biannual reviews are best scheduled and planned. Clearly defined processes facilitate consistency and fairness, achieving maximum good out of the review process for the organization and the employee.
On the other hand, the advantages of bi-annual reviews include more caring managerial attention and commitment toward personnel development, yet there can also be challenges and considerations that require some attention. Quite contrarily, challenges that need consideration in mitigation will maximize the realization of benefits from reviews.