Managers working in today's organizations often focus more on results than on the people who achieve those results. But regularly evaluating the performance of your employees is critical to improving the efficiency and output of your organization. Performance reviews have changed significantly in the past few years. Companies today are looking for the key characteristics, known as competencies, that help the most successful people in their field to be so successful. Managers and employees need to focus on those competencies, especially during performance review discussions.