★ Continuous feedback Gone are the days when annual performance reviews were important for the performance review process. Today, organizations must focus on holistic performance management. Instead of yearly reviews, they must focus on weekly, monthly, or quarterly performance reviews.  ★ 360-degree feedback The 360-degree feedback approach ensures fairness and transparency in the performance review process. In this process, the employees receive feedback from peers or subordinates. You can use 360-degree feedback software to exchange constructive feedback.  ★ Pay as per performance You must reward your high performers not only to motivate them but also other members of the team. When you appreciate employees and offer the pay they deserve, they feel more productive, engaged, and satisfied with their work.  ★ Don’t punish instead, uplift You can use the performance review process as an opportunity to uplift the poor performers in your organization. So don’t punish people for bad performance as there could be hundreds of valid reasons for that, instead, you need to have frequent one-on-ones with your employees to understand their challenges. You can make a difference in their performance by equipping them with all the necessary resources or help they need to perform better.  ★ Allocate projects based on potential not on experience As managers, you must also ensure that there is a fair allocation of projects. You must assign responsibilities to qualified candidates even if it means disregarding the seniority level of an employee. This way you are giving fair and equal opportunities to all the team members to grow in their respective fields.