THE SIGNIFICANCE OF THE PERFORMANCE MANAGEMENT PROCESS

                                         VALUE OF THE PERFORMANCE APPRAISAL

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THE SIGNIFICANCE OF THE PERFORMANCE MANAGEMENT PROCESS

 

1.i) what is performance appraisal?

Performance appraisal is the process of assessing, how well employees are doing their jobs. It is part of a company's performance management system. Performance appraisals are based on the employee's progress against goals set once a year with their managers.

1.ii) Purpose of the Performance Appraisal

• ·        Establishing job/performance targets for the coming year and clarifying expectations
• ·         Assessing performance achievement of the past year and providing performance feedback.
• ·         Identifying the development areas (Trainings and Development Programs)
• ·         Awarding performance based incentives and salary increments
• ·         Awarding promotions
• ·         Discipline Programs
• ·         For HR planning

1.iii) Benefits of the Performance Appraisal

for the employee:

• •creat caree growth
• •improve performances
• •evaluate goals
• •getting trainings and development programmes
• •increase motivation and job satisfaction
• •improve working relationship with supervisors

for the company

•improve company performance

•identify the performers and non-performers

•better indentification of potential and formulation of career plans

•improve communication between the employees and management

1.iv) How performance appraisal can accompany a competitive advantage to an organization.

Every company wants obsessive ambitious employees who perform their job roles perfectly. However, the reality is all human beings are imperfect and easily get tired or fed up when they do not have clear goals and plans. Therefore, employees of a company are also need an inspiration to get-up-and-go. A company can use the performance appraisal process to inspire, monitor and manage employees. Further, also they need performance appraisals to show employees their support, to offer training and development programs and to distribute reward and appreciations. There it builds a good relationship between company and the employee.

When an employee feels that their managers or the company care about them and helping them to do better and develop in their career, they mechanically involve with the company and when the employees contribute their level best, they ensure to carry maximum profits for their working company.

“Therefore, Performance appraisals are essential for the growth of a employee and as well as the company.”

Explain the performance management process

 

i)                   What is performance evaluation

Performance Evaluation is recognized as productive procedure to measure an employee's work and results based on their job tasks.

ii)                 Importance of performance evaluation

To employee;

·         To get open and transparent job feedbacks from the employees

·         Providing opportunities to employees for learning & development programs

·         Make employee understand what is expect from them and the skills and the support needed for fulfilling these expectations.

·         Linking objectives and facilitating effective communication throughout the organization.

 

                  To Organization;

• ·         For a reasonable distribution of incentives and rewards fairly
• ·         Establish clear performance objectives
• ·         Recognize and reward good performance in the organization
• ·         Providing maximum opportunity for career growth
• ·         Facilitate a trust relationship between company and the employee

 

iii)               What is performance planning

Performance planning is a systematic and structured method to successfully achieve the desired goals of an individual or team throughout the assessment year. It is the process of communication between the manager and the employee and this process should ensure that their employees meet the organization’s goals. The company will set specific, measurable, achievable, relevant, and time-bound goals for employees, and then creating a plan to help them meet those goals.

i)                   Objectives of performance planning

•At Manager Level:

•to provide opportunity to joint in goal seting

•to provide trainings whenever required

•to provide an on the job feedback

•At Employee Level

•to determine performance goals

•to become receptive to feedback

•to develop self efficiency for providing information on self-performance

•to view manager as a mentor

ii)                 Process of performance planning

• Business Planning
• Key Success Fcators
• Departmental Objectives and strategies
• Individual's objectives and action plans
• Individual performance expectations 

CONCLUSION

From this blog, we can read that the “Performance Appraisal” process is a very important practice to an organization. If an organization handle this process very efficiency, it can be benefitted to the company success and to the employees to develop their better career.

REFERENCES

Websites;

Clear review

Management Study Guide

 

Youtube Channels;

GreggU

HR University

Leadership and Talent Development

Simple Learning Tips

7 Companies in the world With The Best Practices for Performance Management

Deloitte.

Adobe.

Accenture.

Microsoft.

Netflix.

Google.

Uber.