From effective communication to enhanced production, in every aspect of the organization, the feedback plays an important role. It is the channel that can help the authorities know what is happening in the business and where one needs to take some quick actions. In this age, when the lack of communication can prove fatal for the business, the authorities take all the actions that can help them get the best of the business. The 360-degree feedback is another system that helps the authorities and departments to know what is right and wrong.
It can prove as a good determinant where the buyer or consumer can feel a great sense of being valued by the business and help him to stay with the business for a longer term. In the field of communication, the feedback system has been in application for a long time now, and due to its proven utility, only various businesses in different fields have taken the same as a part of their system. This system can also help one control the factors that can damage the business.
Companies always have a target to set in their graph. To ensure this modal behavior, organizations or companies, use performance appraisals to check whether the employees and the company is running on the same goals or not. It builds in a framework to portray the picture or feedback on the quality and quantity of work the employees put in. Performance appraisals can be conducted by the company at any period of time. But, for now, they are stipulated to quarterly, semi-annual and annual.
Companies, in the real world, have a limited source of finances to allocate with bonuses and raises. Performance appraisals help in indicating the proper methods to allocate the funds systematically. It generally binds more closely for the employees who at the end of the performance appraisals seem to have contributed to the company. The company, then, after evaluating, awards that particular employee or a team accordingly.
Performance Appraisal: What does it mean?
To start with, performance appraisal is a complete systematic process which compiles the job performances of the employees working in it. Along with the evaluation of the job performance, how much of his contribution has led the company to own profit in the market is also put into measure. Only then a full cycle performance cycle is said to have been administered. Performance appraisal is also known as a performance review or annual review.
Every company requires an efficient performance appraisal system to place its gross in the stock market. The basic strategy that gets executed after having a performance appraisal is that it helps the employers to recruit or place the right candidate or employee for the right positions. This entire system creates a pool of curiosity among the employees to know about their performance and hence, they start comparing it with others. Performance appraisal and Personality Management are two sides of the same coin.
Different types of Performance Appraisal
It is not always the managers who are involved in the performance appraisal system. If you have seen a family tree, you will connect it better. Here, each branch is a simultaneous equation holding a different meaning. Each branch is an amalgamation of peers, manager and self on the graph completes the entire tree structure. So, now just watch its different branch:-
General Performance Appraisal
It is always said performance appraisal, and Personality management moves hand in hand. That is why; general appraisal tends to be a medium of communication between the manager and the employee at the end of the year. It is generally evaluated to determine the amount of work or pre-set goals completed by the employees at the end of the year. Feedback is given, and new goals are set to be followed.
This is a peculiar performance appraisal where the employee undergoes the assessment and is compared with the results of the manager. If any difference in the test arises, then, the manager discusses it with the employee.
It involves a confidential process in which other employees or peer groups generally provide feedbacks. The feedback is then re-evaluated by the manager, and relevant comments are used for the appraisal processes.
Technological performance Appraisal
As it looks, the same it means. Here, the manager tests the technical reposition of an employee. This test is only done to check the technical capabilities of an employee.
Manager Performance Appraisal
This is the crucial appraisal done without hurting the morale of the employee and client. The manager, after conducting the feedback process, satisfies the requisites of both the clientele and the employee.
Project Evaluation Review
This review involves feedback at the end of every project. So, you do not have to wait for the year to end to get the feedback. You can identify the aptitude of an employee at work easily.
Tips to survive Performance Appraisal
- Calculate your self-worth
The performance appraisal is the perfect timing when you have an opportunity to speak up to your manager. It is always said that ‘If you don’t ask, you don’t get’. So, if you are planning to ask for a promotion or hike in salary, you can get through this after determining your performance review.
- Do not spread muck personality
If you are failing in this performance appraisal for the bad performance of your team, do not strive bad attitude or defensive trait of your personality. You can always find a positive solution and attitude to define your work and commitment.
- Be serious about your job
You generally don’t get this podium to communicate with your manager. Performance appraisal is a session where you can move your career ladder.
- Always try to learn
Everyone knows that it is quite a boring process to conduct a review at the end of a year. But, you get to learn the aesthetics of performance development.
Performance Appraisal and Personality Management thus instills a VIBGYOR of consistency, focus, real and able to know your self-worth. This is when the entire feedback system enjoys its victory of being successful.