Don’t merely rely on your annual one-on-one performance reviews. Meet with each employee at least monthly to discover how they are doing, what is getting in their way, and how you might help them.
This also allows for you to provide more real-time feedback. Allow the employee to have some input on the agenda and consider meeting in an informal setting, such as over lunch.
Remember your objective is to encourage DIALOGUE - so allow them to talk first - and you listen.