Here's everything you should say and do when conducting your first performance review

And as a boss, their outcome is up to you.

"As an effective leader, choose to make the review process a positive learning experience and let your main objective be the growth and development of your people," says Darlene Price, president of Well Said, Inc., and author of "Well Said! Presentations and Conversations That Get Results."

She says that the risks of not communicating clearly with your employees are another year of underperformance, mediocre results, low morale, and possibly your employees quitting their jobs.

"On the other hand, if you leverage the performance review to celebrate successes, communicate improvement, and coach the employee to embrace higher standards, everybody wins," Price says.

Here are the 11 steps you should take during performance reviews with your employees, as well as the things you should say each step of the way.