My employee is currently designated as 'probationary' in status. Am I required to complete an annual performance evaluation for him/her?

Maybe.  An annual performance evaluation is required for any 'permanent', 'time-limited', or 'probationary' employee hired prior to December 1, 2016. New, 'probationary' employees, hired on, or after, December 1, 2016 will be reviewed/evaluated during the next annual performance evaluation cycle (March 1, 2017 to February 28, 2018).

For other questions regarding the annual performance evaluation process, please refer to Performance Management FAQs.