Performance appraisals, and reward & recognition programs

  Performance appraisal might be named as performance review, performance evaluation, performance assessment, performance measurement, employee evaluation, personnel review, staff assessment, service rating, in different organizations. Performance appraisal should be considered as a process not as an event (Russell, J. and Russell, L., 2009) with 4 main phases TEAM (Technical, Extended, Appraisal and Maintenance) approach (Kohli & Deb, 2008). Performance appraisals are used to measure the effectiveness and efficiency of the employees in an organization (Aggarwal and Thakur, 2013). Even if an organization hires the employees with same qualification and experiences, employees are different from each to other due to social, cultural, and demographical factors. Attitudes to handle a work is different. There can’t be any organization without gathering information about the skills, knowledge, responsibilities, future targets and goals and past performance of each individual employe...

  There are number of performance appraisal methods those have been developed over the time. One method would be best suited for a company while another is for another company. The organizations follow different types of appraisal methods since there is no any universal appraisal method. According to Lunenburg (2012), three are 3 main categories of performance appraisals: the judgmental approach, the absolute standards approach, and the results-oriented approach. According to Nash, Winstone, Gregory and Papps (2018), the main two categories are Past-Oriented and Future Oriented Performance appraisals. However, performance appraisals can be broadly categorized into two categories: Traditional methods and Modern Methods (Aggarwal and Thakur, 2013).   Traditional Methods   Ranking Method The managers rank their subordinates from best to worst considering the performance or a particular trait. The practice is to write the name of best performer on the top and least ...

  In contrast to the Traditional methods of performance appraisals, Modern performance appraisal methods have been developed to mitigate the shortcomings such as bias and subjectivity (Aggarwal and Thakur, 2013).   Modern Methods Management By Objectives (MBO) The “Management By Objectives” method was introduced by Peter Drucker in 1954. According to Drucker’s concept, ‘objectives setting’ and ‘progress monitoring’ are the main 2 factors those should be followed throughout the company from the CEO to the labor (Kyriakopoulos, 2012). Extended model for MBO, namely SAMBO was introduced by Heinz Weihrich in 2000 with 7 elements. 1.       Strategic Planning and hierarchy of objectives 2.       Setting objectives 3.       Planning for actions 4.       Implementation of MBO 5.       Control and Appraisal 6.       Su...