A STUDY ON EFFECTIVENESS OF EMPLOYEE PERFORMANCE APPRAISAL WITH REFERENCE TO VIRIKSHA HR SOLUTIONS PRIVATE LIMITED
RIYA DAVID¹ & DR. BHAVYA²
1MBA Student, School of Management Studies,
Sathyabama Institute of Science and Technology, Chennai,Tamil Nadu, India
2Assistant Professor, School of Management Studies, Sathyabama Institute of Science and Technology, Chennai, Tamil
Nadu, India
INTRODUCTION
A performance appraisal is a systematic and periodic process that assess an individual employee's job performance and productivity in relation to certain pre-established criteria and organizational objectives. All organizations aim at being effective and achieving their goals, in order to do this, it is important to monitor or measure the performance of the employees on a regular basis. Effective monitoring also includes giving timely feedback, reviewing the performance according to pre-determined standards and timely recognition of the accomplishments, that motivates the employee to perform better each day. It is rightly said that, "Encourage people achieve the best; dominated people achieve second best; neglected people achieve the least" as recognition and reward at the right time is the best encouragement. Appraising the performance of individuals, groups and organizations is a common practice of all societies. While in some instances these appraisals processes are structured and formally sanctioned, in other instances they are an informal and integral part of daily activities.
Performance Appraisal is a process of evaluating an employee's performance in terms of its requirements. It is also defined as the process of evaluating the performance and qualifications of the employees in terms of the requirements of the job for which he is employed, for purposes of administration including placement, selection for promotions, providing financial rewards and other actions which require differential treatment among the members of a group as distinguished from actions affecting all members equally.
