Most performance reviews are annual and managers wait until the last minute to do them. Problem is, you can't remember everything that happened throughout the year.
Keep a file on each one of your direct reports. In it, keep notes about their accomplishments, failures, etc. Also, note how they reacted to those. Note any feedback from peers.
Give constant feedback throughout the year.
Be fair in your assessment.
Formulate a succession plan. This includes things like who will take your place when you get promoted as well as who will take the place of your team lead when they move away.
Finally, and this is the most important takeaway, there should never be any surprises in a performance review. EVER. The person being reviewed should go in knowing what they'll receive based on the constant feedback.
Keep a file on each one of your direct reports. In it, keep notes about their accomplishments, failures, etc. Also, note how they reacted to those. Note any feedback from peers.
Give constant feedback throughout the year.
Be fair in your assessment.
Formulate a succession plan. This includes things like who will take your place when you get promoted as well as who will take the place of your team lead when they move away.
Finally, and this is the most important takeaway, there should never be any surprises in a performance review. EVER. The person being reviewed should go in knowing what they'll receive based on the constant feedback.
This is all management 101 stuff.