What is the difference between a performance review and a performance appraisal?

The terms are often used interchangeably. A performance appraisal is a formal evaluation of job performance against set objectives, and is the more common term in Malaysia and the Philippines. “Performance review” is often used more broadly to include development and goal-setting conversations. In Omni HR, teams can run either format using custom review forms and annual, bi-annual or continuous review cycles.