Review cycle is a continuous performance evaluation process which is done quarterly in a year. At the start of every quarter a performance management software is used to set goals for every employee. Both KRAs and KPIs are set and the employees are asked to evaluate themselves at the end of each cycle. Thereafter, the manager sits with each employee, tell them his feedback.
Put simply, a review cycle involves planning the work in advance to set and be able to meet the expectations. It is also about monitoring the performance on an ongoing basis and rewarding the good performers.
The review cycle plays a major role at the time of appraisal. Moreover, the review cycle helps the company in increasing the productivity of the employees, identifying the loopholes and taking actions accordingly. The same helps in the ultimate achievement of long term and short-term company goals.