What is an appraisal?
An appraisal is an attempt to assess something or someone. It is the evaluation and assessment of an employee’s work for a particular duration of time. The objective of an appraisal is to analyze one’s performance at work. This offers the employee a chance to talk to their employer about their career plans. These formal procedures also are used to evaluate pay increases and bonuses. The employee receives constructive feedback, a good idea of their future in the organization and their rewards for their improving performance.
What are the types of appraisals?
Appraisals can be classified based on where and how the feedback and reviews are processed. They are:
- Self-assessment based
- Peer assessment
- 360 feedback
- Negotiated appraisal
- Behaviour-based appraisal
What are the advantages of conducting appraisals?
- Provides fair and constructive feedback.
- Employee receives the evaluation of his performance.
- Rewards and recognition are given for good performance.
- Identifying areas for further training.
- Improving performance and profitability.
- Increased job satisfaction and motivation.
- Better morale and teamwork
- Identifying candidates for promotion/succession planning.
