Performance appraisals play a key role in reward systems. It is the process of evaluating the performance of employees, sharing the information obtained from the appraisal with them, and searching for ways to improve their performance.
Performance Appraisals are a vital facet of any organisation and encourage employee loyalty as well as growth. Nothing is more empowering for an employee than to receive constructive feedback pertaining to his/her performance. Organisations should ensure that the employees are aware of their performance against the expectations/requirements for the position to ensure maximum performance and productivity.
The concept of a performance appraisal is in fact aimed at empowering employees and providing a guideline of what is expected of them. It also provides input into ways in which employees can further strive for excellence and job satisfaction within their given role.
Benefits of doing performance appraisals:
- Providing feedback to employees regarding their performance and give them guidance on how to improve their performance;
- Coaching employees to improve areas of weakness and building on their areas of strength;
- Encourage performance improvement to ensure maximum productivity;
- Help to build employee commitment and satisfaction; and
- It is an important method for enhancing employee development and improving individual performance.
Performance Appraisals are usually administered 2-4 times per year. Performance Appraisals Questionnaires, based on the job description for each position, are typically developed. A 360° measurement is typically applied where the employee is rated by him/herself, his/her superior(s), a team member and a subordinate.
You can apply this valuable tool in your organisation to safe costs and enhance productivity and efficiency.