PERFORMANCE APPRAISAL is that occasion when once a year you foind out who claims sovereignity over you- Peter Block
Well thats true !
Performance Appraisal is evaluating the prformance of an employee and understanding the abilities for further growth and development . Performance appraisal as a tool if not only beneficial for the company but also for employees . Evaluation process will help them to know their actual worth which will further lead them to an improvement in their performance. The evaluation of employees,done by the supervisors provide a clear senario of their performance which is beneficial to the company ie. in providing the employees promotion or demotion.on the basis of their work done. It also helps the organisation to form their training policies programmes as these training policies as these programmes are framed according to the capabilities of the employees and their potential to improve .It also helps in determining compensation packages for the employees as merit rating is possible through performance appraisal only. Moreover it not only acts as a tool for evaluation but it also provides motivation to employees and employees work more motivatedly towards their and company’s combined growth .
EMPLOYEE’S PERSONAL GROWTH = OVERALL COMPANY’S GROWTH