Performance appraisal is not just important for your employees but your company too.
For the success of your company it is very important to know how your team members are performing; to know the areas where they excel and wherein they need to pull up their socks.
It might seem to be time consuming and you may think of keeping a track of their performances mentally. However, by doing it mentally, you may miss some important things that you ought to take note of. As a growing business owner you can’t afford to take a chance with a sensitive thing like this. After all, on the performance of your team members’ depends your company’s performance.
Talking about the importance of appraisal for an organisation, Ms Malvika Mishra, an HR consultant says, “Appraisal gives an opportunity to the organisation to identify and reward people, who are critical to its success and on the other side for the employees it brings a satisfaction of a work well done, which is recognised and rewarded.”
Ms Mishra also adds that there should be a fair and efficient mechanism of performance appraisal to give an organisation a motivated and committed workforce. “An appraisal system which is partial and biased leads to disastrous ramification for the organisation in terms of increased attrition of sincere and good performers directly and decreased favorability as a `choice employer` in the long run,” says she.
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