ASSIGNMENT COVER PAGECourse CodeHRM 421Course TitlePerformance Appraisal and ManagementAssignment TopicDescribe the steps of performance appraisal process and essentials of an effective performance appraisal system.Exam’s NameMid Examination Student’s ID2002101252Student’s NameMd. Omar Islam Pappu Semester’s Name and YearFall 2020Course Teacher’s Name and DesignationLecturerMonowara Begum MemyDepartment’s NameBusiness AdministrationDate of Submission01 November, 2020 FORMATTING and REFERENCINGYour assignment must meet the formatting and referencing requirements noted in theguidelines/instructions. By signing below you are confirming that you have met thoserequirements.DECLARATIONThis assignment is my own original work. No part of this work has been copied from anyother source or person except where due acknowledgement is made, and no part of the workhas been previously submitted for assessment at this or any other institution.Student’s signatureTyped name is permitted if submitting via email addressDate
Performance Appraisal:A performance appraisal is a regular review of an employee's jobperformance and overall contribution to a company. Also known as an annual review,performance review or evaluation, or employee appraisal, a performance appraisal evaluatesan employee’s skills, achievements, and growth--or lack thereof. Companies use performanceappraisals to give employees big-picture feedback on their work and to justify pay increasesand bonuses, as well as termination decisions. They can be conducted at any given time buttend to be annual, semi-annual, or quarterly.A few definitions of performance appraisal are as follows: According to Flippo, a prominent personality in the field of Human resources, "performanceappraisal is the systematic, periodic and an impartial rating of an employee’s excellence inthe matters pertaining to his present job and his potential for a better job." According to Dale Yoder, "Performance appraisal includes all formal procedures used toevaluate personalities and contributions and potentials of group members in a workingorganisation. It is a continuous process to secure information necessary for making correctand objective decisions on employees. According to Randall S. Schuler, "Performance appraisal is a formal structured system ofmeasuring and evaluating an employee's job related behaviour and outcomes to discover howand why the employee is presently performing on the job and how the employee can performmore effectively in the future so that the employee, organisation and society will benefit."Because companies have a limited pool of funds from which to award raises and bonuses,performance appraisals help determine how to allocate those funds. They provide a way forcompanies to determine which employees have contributed the most to the company’s growthso companies can reward their top-performing employees accordingly.