What are the Methods of Performance Appraisal in Corporates?
What are the Methods of Performance Appraisal in Corporates?
What are the objectives of Performance Appraisal?
● Improving productivity of an individual and company
● Helping managers make informed decisions related to organizational changes
●Providing a well-defined framework to assess a job description
● Evaluating employees with respect to their job descriptions and company goals
● Determining strengths and weaknesses of every individual
● Chalking out goals and strategies to achieve new goals, based on improvements and strengths of the employees
Performance Appraisal Methods are categorized into
1. Traditional Methods
2. Modern Methods
1. Traditional Methods
a) Ranking Method
This method includes ranks the employees from the best to the worst.
b) Graphic Rating Method
This method assesses the personal and behavioral traits of the employees.
c) Critical Incident Method
This method assesses the critical incidents during the task performance.
2. Modern Methods
Modern methods are used to eliminate the drawbacksof the traditional performance appraisal techniques.
a) Self-Assessment
This method is used to evaluate his/her work by filling a form and describe the work done. The main use of self-assessment methodology is that it encourages the healthy conversation between the employees and managers.
b) Graphic Scale
This is the mostly used by managers in which the employee’s performance is graded on a scale. Here the grading system uses a 5 point rating scale to assess the performance of the employees.
c) Behaviorally Anchored Rating Scale (BARS)
BARS use variousbehavioral examples to explain about the multiple levels of performance against the points mentioned in the job description.
d) 360 Degree Method
360 degree method involves the feedback from the manager, clients, team members or subordinates, if any. In this process they consider different elements like complete profile, work performance and technical skill sets of the employee are assessed.
e) Checklist
It is the simplest method of performance appraisal, where the candidate is asked with a series of performance questions and has to choose from the options of Yes or No.
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