Don't freak out if your year-end review isn't great - here's exactly what to say instead

As 2016 rolls to an end, you might be looking forward to your office holiday party.

But there is one other item to deal with before 2016 is complete: the year-end performance review.

And if it doesn't go so well, it could put a real damper on the festivities.

With that in mind, Business Insider spoke with Melissa Greenwell, executive vice president and chief operating officer of The Finish Line, Inc., to learn the best way to respond to poor feedback in a review.

"The best way to react is to thank your manager for that feedback and then start enlisting some suggesting and ideas on what you can do differently to improve," Greenwell, author of "Money on the Table," told Business Insider. "It can be a really tough thing to do in the moment, but that really is the best reaction."

While an employee's first inclination may be to push back against negative feedback, Greenwell explained that taking a defensive response can actually undermine your position by signaling to the manager that you're not interested in learning and improving.

She recommends saying something like:

"Obviously this is really hard to hear, but I understand what you're saying and I appreciate you being candid with me, and let's talk about what I can do differently."

While being receptive to poor feedback certainly helps smooth over the conversation in the near term, it also has benefits into the future.

Remember, this situation is hard on your manager, too. No one likes giving bad feedback. So, when an employee makes it easier for their manager to give tough feedback, chances are they will get that feedback more frequently and act on it more quickly, Greenwell explained.

Then, you're laying the groundwork for a fantastic review next year.