I am working through a somewhat painful process of having to rate my team on core competencies such as "Energy", "Energize", "Edge", "Execution", "Collaboration", Customer Centricity","Excellence", "Integrity". To me, this process seems very subjective and bias-ridden. For you design leads, managers, directors, etc. How to do you go about rating your team, rating individuals on your team, and creating an objective system for measuring performance?
We set goals and OKRs every quarter. These goals and objectives can drastically change every quarter based on what our organizational and department goals might be for the quarter. Once a set of goals and objectives are set, it's up the the individuals to make sure these objectives get prioritized and completed. Design can be difficult to quantifiably measure, so creating measurable objectives can be challenging.
However, we also have a set of core values that our organization lives by, and during our annual review process we review our designers on scale of 1-10 on how well they embody these core values. The role of a manager will always be a bit subjective when you measure things like this. You are human. However, it is important that you are as unbiased as possible. We are required to provide examples during our review process (in both bad and good reviews).