My first appraisal is coming up. What to expect and best practices that will help

Hey folks,

I’m going to have appraisal for the first time in my career and I have no clue how it usually happens. I’m also expected to do it for the team I lead too.

I wanted to know how different companies do it and what is an industry standard hike that one can expect. Are there some practices that have helped you have an effective appraisal over the years? I lead a marketing team of 5 for a healthcare brand.