HRM 421.docx - ASSIGNMENT COVER PAGE Course Code HRM 421 Course Title Performance Appraisal and Management Describe the steps of performance appraisal

HRM 421.docx - ASSIGNMENT COVER PAGE Course Code HRM 421...

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ASSIGNMENT COVER PAGE Course Code HRM 421 Course Title Performance Appraisal and Management Assignment Topic Describe the steps of performance appraisal process and essentials of an effective performance appraisal system. Exam’s Name Mid Examination Student’s ID 2002101252 Student’s Name Md. Omar Islam Pappu Semester’s Name and Year Fall 2020 Course Teacher’s Name and Designation Lecturer Monowara Begum Memy Department’s Name Business Administration Date of Submission 01 November, 2020 FORMATTING and REFERENCING Your assignment must meet the formatting and referencing requirements noted in the guidelines/instructions. By signing below you are confirming that you have met those requirements. DECLARATION This assignment is my own original work. No part of this work has been copied from any other source or person except where due acknowledgement is made, and no part of the work has been previously submitted for assessment at this or any other institution. Student’s signature Typed name is permitted if submitting via email address Date
Performance Appraisal: A performance appraisal is a regular review of an employee's job performance and overall contribution to a company. Also known as an annual review, performance review or evaluation, or employee appraisal, a performance appraisal evaluates an employee’s skills, achievements, and growth--or lack thereof. Companies use performance appraisals to give employees big-picture feedback on their work and to justify pay increases and bonuses, as well as termination decisions. They can be conducted at any given time but tend 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, "performance appraisal is the systematic, periodic and an impartial rating of an employee’s excellence in the matters pertaining to his present job and his potential for a better job." According to Dale Yoder , "Performance appraisal includes all formal procedures used to evaluate personalities and contributions and potentials of group members in a working organisation. It is a continuous process to secure information necessary for making correct and objective decisions on employees. According to Randall S. Schuler , "Performance appraisal is a formal structured system of measuring and evaluating an employee's job related behaviour and outcomes to discover how and why the employee is presently performing on the job and how the employee can perform more 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 for companies to determine which employees have contributed the most to the company’s growth so companies can reward their top-performing employees accordingly.

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