An Annual Review is a formal assessment that occurs once a year, typically in organizations or businesses. It involves evaluating an employee's performance, setting goals for the upcoming year, and discussing achievements. This process helps ensure that employees align with the organization's objectives and receive constructive feedback. During the Annual Review, managers and employees often discuss various aspects of work, including strengths, areas for improvement, and professional development opportunities. This meeting can also cover compensation adjustments and promotions, making it an essential part of career growth within the company.