What process involves evaluating employee performance against certain standards?

The process of evaluating employee performance against certain standards is known as performance appraisal. This systematic evaluation is typically conducted at set intervals to assess an employee's contributions and accomplishments, as well as to identify areas for improvement.

In performance appraisals, managers or supervisors review the employee's work against predefined criteria, which can include productivity, quality of work, teamwork, and adherence to company policies. This process not only helps in acknowledging the strengths and achievements of employees but also provides constructive feedback on areas that may require development. Performance appraisals often influence decisions regarding promotions, pay raises, and career development plans.

While performance feedback refers to the ongoing communications and discussions about an employee's work, it does not constitute a structured evaluation process. Performance bonuses are rewards tied to performance but do not themselves involve the evaluation process. Performance management is a broader concept that encompasses the entire system of planning, monitoring, and enhancing performance, of which performance appraisal is a critical component.