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Performance appraisal is a vital process for businesses to increase employee productivity and outcomes and evaluate an employee’s strengths and weaknesses. In the past, they primarily used the process as a benchmark for promotions and salary increases. Now, modern methods offer more comprehensive and holistic evaluation tools that allow companies to track an employee’s performance more effectively.
While some employees may have negative perceptions of the appraisal process due to a fear of criticism, it is crucial for companies to provide constructive feedback and train their supervisors and managers to handle the process tactfully. There are many ways that companies can conduct a performance appraisal, including annual or bi-annual review meetings based on company policies.
Before diving into the modern performance appraisal types, let us first understand what modern methods of performance appraisal are and why they are necessary in today’s business environment.
What is Performance Appraisal?
Performance evaluation is the practice of analyzing an employee’s performance over a period. In the workplace, it is typically manifested as an annual or quarterly procedure that entails reviewing each employee’s performance and productivity.
The modern performance appraisal process can be incredibly advantageous for the organization. It helps to modify the performance appraisal
