Wednesday, 27 September 2017

Performance Appraisal and Its Importance

One of the biggest tasks for an employer is evaluating employee’s job performance and giving a monetary value to the evaluated performance. The process of the evaluation and documentation of job performance is referred to as performance appraisal or performance review. In some organizations, it is also referred as performance evaluation or employee appraisal. Whatever, the name of the process is, the task of evaluating employee performance is a critical part in employee development and is the most required to bring out the best of employees capabilities and boost their morale. Performance evaluation is a systematic procedure that involves the assessment of an employee’s performance with that of certain set standards and organizational goals. The criticality of performance appraisals is such that many organizations are seeking expert services from HR management consulting firms.

Performance: From the above discussion we understand that appraisal means evaluation. Then what is performance? Evaluating whether an employee is performing well or not is the core of performance appraisal. We can evaluate performance only when we know what it is. According to the dictionary, performance means the action or process of performing a task or function. Employees are meant to have performed well when they are productive, i.e. they are efficient and effective in the task they perform without creating troubles for the organization.

Importance: What is the need of performance appraisal? A big organization with all the resources does not need to worry about performance appraisals because it has a strong HR department which carries out this function for them. But a small organization which does not have its own team may have doubts regarding the necessity of performance appraisal because it needs some special skills for this and has to approach HR consultancy services. The importance of performance appraisals is that it helps an organization to find the deviation of employees’ performance from that of the set standards for them. It also helps them to evaluate how the employees are performing with minimal loss to the organization with respect to finances, time, and material. Top HR consulting firms with their expertise can help organizations in their employees’ performance evaluations and guide them in taking appropriate decisions regarding promotions, demotions or pay revisions. Performance appraisals also help in identifying the need for training and development programs for the employees depending on their skill sets and the organization’s future requirements.

Usually, performance appraisals are done on a yearly basis. In some organizations, they are done half yearly or quarterly also. The frequency of the performance evaluations depends on the size and nature of the organization. However, many professionals in HR consultancy services opine that appraisal should be a continuous process that is not limited to once in year review. This kind of system is very useful for organizations that are more subject to changes, have new employees or have staff whose performance is below the acceptable standards.

HR management consulting firms say that whatever the size and nature of the organization are, one thing that is inevitable is the performance appraisal of employees. Employees also wait for the appraisal anxiously because it gives them an opportunity to understand their strengths, weaknesses and their overall performance. It gives them a sense of pride if they are appreciated for their work or gives them the motivation to work even better if there is some deviation in their work from what is expected of them. Accuprosys, one of the top HR consulting firms in Hyderabad has all the expertise to help you with your employee performance appraisals.

Visit: accuprosys