Everything You Need to Know about
Appraisals
According to an article that is published on the
Wikipedia website, “a performance appraisal (PA), also referred to as a
performance review, performance evaluation, or employee appraisal is a method
by which a job performance of an employee is documented and
evaluated”. Additionally, a performance appraisal can also be considered
as a part of the Career Development of the employees. Companies often
conduct performance appraisal as their method to justify salary hike and
bonuses to be given to the members of their organization. Aside from that, the
performance appraisal will also determine whether there are enough grounds
to terminate the employees.
Advantages
of Conducting an Employee Performance Appraisal
Aside from
being able to determine the percentage of the salary increase, there are a
couple of amazing benefits that come with a good employee performance
appraisal.
· Potential Job
Promotion – Aside from the
monetary bonus, an employee with a flawless work performance is likely to earn
a promotion. Since most companies offer promotion programs, a performance
review can help them weed out under performing employees from the program.
· Compensation – Employees who do not qualify for the
compensation package offered by the company is determined by a performance
appraisal. Oftentimes, the compensation package includes a higher salary
increase, incentives, and extra benefits depends on how well the employee has
been functioning in his role for a given period of time.
· Motivation
– A lot of
employers consider performance appraisal as a motivational tool that makes the
organization members strive harder to become more efficient and gives the best
of their abilities to perform their daily duties and responsibilities. And
since a performance appraisal provides a comprehensive and honest feedback on
the employee’s performance, the manager is able to identify which areas that
the employee needs help. Usually, the manager will schedule a training for the
employee to help him improve his work ability.
· Open
Communication – A performance
appraisal is seen as a great communication tool that can benefit both the
employer and the employee. If both parties are able to communicate regularly,
it makes it even easier to build a strong employer-employee relationship and
keeps both parties on the same page.
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