Ideally a good performance review helps the employee become better, and they can use that feedback to grow in their carer.
E.g. have someone on your team who writes long e-mails? Or insta-replies to things without taking time to think? Helping those people grow is the point.
Compensation is a universe unto itself. Ideally we'd all be paid according to merit but merit is hard to measure. A (well-executed) performance review should have value in helping people grow and not just be a vector for more $$.
Realistically speaking if you want to significantly increase your compensation these days you have to get a new job.
E.g. have someone on your team who writes long e-mails? Or insta-replies to things without taking time to think? Helping those people grow is the point.
Compensation is a universe unto itself. Ideally we'd all be paid according to merit but merit is hard to measure. A (well-executed) performance review should have value in helping people grow and not just be a vector for more $$.
Realistically speaking if you want to significantly increase your compensation these days you have to get a new job.