I like (what I've seen) at my workplace. We've designed a rubric across multiple dimensions (basically leveled epectations at each role, software engineer 1 thr

I like (what I've seen) at my workplace. We've designed a rubric across multiple dimensions (basically leveled epectations at each role, software engineer 1 through 4 plus two levels of principal engineer). Everyone knows what is expected at each level. You have goals tied to personal and team initiatives. Managers are limited in the count for direct reports and work daily with their teams, and the they also often solicit feedback on strengths and opportunities for growth from direct reports for teammates who have more interaction with each other. Managers then all get together and level set on performance and promotions. Managers have to defend a promo and performace with data. It helps protect against rubber stamping and from being overly hard. Sure there is a budget that is taken into account, and that is life. We announce all internal promotions, and when you know the person, you always can agree it was deserved. I've been promoted multiple times and have increased my salary a lot each time.