[SergeAx]

We are a team of ~50 software engineers and about the same amount of non-engineering staff. We have a quarterly performance review. It starts from setting goals at the beginning of the quarter. Then we have a home-brewed CRM-like system to enter accomplishments, nominate peers, giving reviews and feedback and finally grading.

Then managers talking to their reports, discussing results, giving and receiving feedback.

Grades are from 2 to 5, greater is better. Normal grade is 4, it gives a bonus of 1/2 of monthly salary. 5 is 1 monthly salary and 3 is 1/4 of monthly salary. Our compensations are on market, so we ended up better compensated even after grade "3".

Two 5's in a row is an occasion to talk about promotion. Two 3's is a reason to talk about leaving the company.

That's about it, the whole process takes about two weeks, most of the time in a grade calibration process.