As a manager, you dread them. As an employee, you may feel queasy. The event? Employee reviews.
When I first managed people, I approached employee reviews with some trepidation. You are concerned that the employee may not take it seriously. Are you sure you are fair? Are you aware of the accomplishments the employee achieved? Can you offer constructive criticism? Can you offer a path to the employee to help him achieve his goals? You get the idea.
My old boss offered me the best advice I ever got on employee reviews. At the time we could not offer any pay increase or bonus. He suggested that I look at it as the only time during the year that you and the employee have an uninterrupted hour to discuss their goals/objectives and future. It has served me well.
One key point I learned as a manager is it required me to work much harder at observing and listening to employees throughout the year as opposed to an annual employee review. It made reviews much easier and frankly, I think, more productive.
I ran across this article a while back on employee reviews published on the Fortune blog. This is a software program. However, it offers excellent advice and tips for managers. These suggestions take work, but if you view employees as an asset that can grow in value, then these appeared to me as well worth the effort.