Managers, stakeholders and fellow peers conduct evaluations regarding an employee's work performance. These evaluations are done in either a formal or informal fashion, providing helpful feedback so the employee can grow more productive in his duties. There are advantages to each type of evaluation based on who is doing the assessment and what job functions are being reviewed.
Informal Ongoing Evaluation
Informal evaluations allow the employee to gain feedback concerning her work in stages through a project or during occasional daily functions. This evaluation can point out immediate problem areas to be fixed since the evaluation can be performed at any given time. An informal evaluation also allows for more one-on-one feedback to be exchanged during employee-training programs to assess ongoing work.
Informal Peer Evaluation
An informal evaluation does not have to be performed by a supervisor or someone in upper management. The employee can seek an informal evaluation from peers to understand how she is managing her tasks. This is especially helpful in work-group settings when team members rely on each other to fulfill a certain aspect of the project.
Formal In-Depth Assessment
Formal evaluations allow for an in-depth assessment of the employee's performance during certain time periods, usually during the 90-day probationary period for new hires and every year for regular employees. A manager or supervisor conducts these evaluations that review an employee's work performance as a whole. Unlike informal evaluations, a supervisor will inform the employee regarding whether he is meeting the minimum performance standards for the job during a formal assessment.
Formal Evaluation Benefits
A supervisor decides on the outcome of the employee's continued work at the organization during a formal evaluation. A formal evaluation outlines disciplinary actions taken and the reasons why an employee will be let go from his job. A formal evaluation can also reward the employee for outstanding performance and professional behavior by giving him a promotion or raise.