The term performance appraisal refers to the 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.
Performance appraisals are usually designed by human resources departments as a way for employees to develop in their careers. They provide individuals with feedback on their job performance. It ensures that employees are managing and meeting the goals expected of them, giving them guidance on how to reach them if they fall short.
Because companies have a limited pool of funds from which to award incentives, such as 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.
Performance appraisals also help employees and their managers create a plan for employee development through additional training and increased responsibilities, as well as to identify ways the employee can improve and move forward in their career.
Most performance appraisals are top-down, meaning supervisors evaluate their staff with no input from the subject. But there are other types are Self-assessment, Peer assessment, 360-degree feedback assessment, Negotiated appraisal.
An issue with performance appraisals is that differentiating individual and organizational performance can be difficult. If the evaluation’s construction doesn’t reflect the culture of a company or organization, it can be detrimental. Employees report general dissatisfaction with their performance appraisal processes.
Performance appraisals may lead to unfair evaluations in which employees are judged not by their accomplishments but by their likability. They can also lead to managers giving underperforming staff a good evaluation to avoid souring their relationship. Unreliable raters can introduce a number of biases that skew appraisal results toward preferred characteristics or ones that reflect the rater’s preferences.
This template will be primarily useful for HR managers. You can use the slides in this template to prepare your company’s employee appraisals. You can also make cards for each employee, which will help you further identify potential career opportunities.
Team leaders can use the slides in this template when selecting new employees to join their team. You can analyze the strengths and weaknesses for each of the potential candidates and assemble a team based on the results of the analysis.
Performance Appraisal is a professional and modern template that contains five stylish and fully editable slides. You can independently change the type and size of the font, color and position of the infographic. This template will be useful for HR managers, company leaders, team leaders. The Performance Appraisal Template will complement your old presentations and will be a worthy addition to your collection of professional presentations.