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Expectations or Goal Setting is done at the start.
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Frequent discussions at every 8 weeks. Manager and Employee sit with each other and discuss on objective setting.
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Reviewers decide increments and bonuses.
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Instant Feedback system for regular inputs. This helps to
a) Rectify mistakes if going wrong somewhere
b) Boosts morale with positive feedback
Helps employees to believe that managers act as coaches and a partner in their development