Looking after your employees is of paramount importance as they are any companies biggest asset. If your employees feel valued and listened to their morale and productivity will be higher which in turn will have a positive effect on the business.
There are some great ways to help ensure your employees are happy and performance reviews are one of them. These reviews can happen on an annual or two yearly basis, and they provide a great forum to check whether your employees are performing as you hoped and to give them any feedback, support and guidance that they might need. It also gives them an opportunity to talk freely and you might be able to stop a Constructive Dismissal Claim being filed against you if you listen and act on any issues that your employees bring to your attention. If an employee feels they have a case for constructive dismissal they can consult with a company like Employmentlawfriend.co.uk who will give them relevant advice and guidance.
As well as giving you a chance to feedback to your employee, a performance review allows you to be able to identify any training needs that are present or any progression opportunities that might be appropriate. It also gives the company a chance to increase engagement with employees and give them the opportunity to feedback on how they feel about the company.