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From my understanding, a PDR (Performance Development Review) is an opportunity for an employee to review their Objectives, Principles/ behaviours and Development and career planning. During the mid-year review, clear objectives may be set out along with corresponding targets aka KPIs that will measure whether or not you have succeeding in meeting said objectives. These can act has incentives to improve your performance so at the end-of-year review, when you will be assessed on your manager can decide how to best reward you, assuming you have accomplished your objectives.