Performance Appraisal — The Critical Need For Workforce Management
Performance Appraisal refers to the review and evaluation of the functionalities performed by an employer and an in depth discussion regarding the career development opportunity in line with the business goals. In this regard, it is essential to discuss the important objectives of performance appraisal.
- One of the primary objectives of performance appraisal is documenting the present compensation packages and other benefits and evaluation of added incentives in this regard.
- It identifies the strong areas of performance for the employees as well as the weak spots wherein the performance dips.
- It points out the potential of the employees so that they can be utilized accordingly across various functionalities.
- It is performed to provide a logical feedback regarding the performance of the workforce.
- It is used for influencing the work habits of the workforce.
- It aids the promotions and learning sessions according to the requirement.
With the objectives in place there is a systematic approach undertaken to carry out performance appraisals.
- At first, the managers and supervisors compare the current compensation of the employee in relation to the targets and plans.
- Then the pointers which influence the work performance of the employee is identified and analyzed.
- Rewards and promotions are suggested in case of significant or creative contribution to the operations.
- The managers guide the employee for better performance by discussing the shortfalls in a positive manner and suggesting proper measures.
A recruitment consultancy can come in handy in case of carrying out this process. It might seem that what is the requirement for such a complex process? Well, it has benefits of its own.
- The performance appraisal forms the primary tool of validating a fresh recruit. The selection process is performed based on past experiences and expertise. But the candidate can be better evaluated when he or she works under company environment and delivers according to the functionality.
- It is one of the initial stages of employee development. The performance appraisal helps in pointing out the strengths and weaknesses of an employee. Hence, proper interactive sessions, training and guidance can be provided to increase the productivity and potential of the candidate.
- It is the most formal way of communication between the management and the employees regarding the job functionalities and the expectations. It increases the employee understanding regarding their job profile and engagement to a great extent.
- The current compensation packages can be evaluated effectively through this process. It helps in merit rating of the employees. It aids in giving the right worth to the performance of a candidate.
- The promotions and addition of functionalities in case of a requirement is suggested through this process. It also helps in reducing unwanted employees who fall short of performance. In certain cases they are demoted as well.
Lastly it acts as a motivation tool for the workforce. It helps in giving recognition to the exceptional performer through rewards or promotion which boosts their productivity levels.