Report On Importance Of Performance Appraisal Program

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Added on 2019-09-30

Report On Importance Of Performance Appraisal Program

Added on 2019-09-30

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Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3Method of employee performance appraisal..........................................................................3Use of employee performance appraisal method for employee compensation......................4Impact of performance appraisal on three different stakeholders..........................................5Recommendation for prevention of ethical and legal challenges faced by an organization dueto the alignment of performance appraisal and employee compensation...............................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................82

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INTRODUCTIONThere are various kinds of performance appraisal methods that are being usedconsistently by management around the world to make sure that employees are given the rewardfor their efforts and work in an efficient manner. However, it is also essential that suchperformance appraisal method is used efficiently for the purpose of determining employeecompensation. The current report will discuss the importance of performance appraisal programfor employees and its overall impact on employee compensation in the longer run (Board, 2018).The impact of performance appraisal on three different stakeholders of the company will also beanalyzed in detail under the report. It will help in better understanding of job analysis etc.Through proper evaluation and implementation of such a strategy, it becomes easier for anorganization to align performance appraisal and compensation plan over time (Schaufeli & Taris,2014).MAIN BODYMethod of employee performance appraisalEmployee performance evaluation or appraisal is a key factor which is essential toimprove as well as enhance the quality of work and inspire them to do well in an effectivemanner. A comprehensive employee performance evaluation process often consists of differentevaluation methods to help judge an employee’s performance (Bogner, 2018). Using multipletechniques can help an organization get a broader perspective of the areas where theorganization's employees need to improve and the steps you can take to support the growth of theemployees. There are plenty of performance appraisal methods which can be used by3

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