PERFORMANCE APPRAISAL SYSTEM OF PUBLIC AND PRIVATE SECTOR BANKS A COMPARATIVE STUDY WITH SPECIAL REFERENCE TO STATE BANK OF INDIA AND HDFC BANK
UNDER THE GUIDANCE OF
DR. AMIT KUMAR DASHORA
SUBMITTED BY
MEGHA SHARMA - 22GSOB2010408
MBA 2022-2024
SCHOOL OF BUSINESS INTRODUCTION
CHAPTER 1: INTRODUCTION
The performance appraisal process assesses an individual's effectiveness by measuring their actual effectiveness within predetermined bounds. The employees have already been given an explanation, therefore giving them feedback on how well they are doing their work would help them become more efficient as needed by the business concern.
Performance reviews and raises serve a variety of functions, such as identifying the contributions of each employee at work and, subsequently, determining if a particular employee needs additional training or encouragement in the form of a raise. Put another way, it is also possible to argue that the performance review serves as a tool for evaluating an employee's effectiveness and determining whether to promote or demote them in the event of incredibly poor performance and little chance for improvement.
In present time, each corporate segment uses performance appraisal as an instrument used for identifying and evaluation of an employee and take decisions about him/her.
Each employee's performance is determined by their level of productivity at work. Effectiveness and efficiency are implied by productivity, where effectiveness is the achievement of a goal. It doesn't express the expenses incurred to reach the goal. Efficiency is defined as the ratio of achieved productivity to compulsive involvement. The level of skill increases with the productivity for a particular contribution. A goal-oriented measure of productivity, such as hard data on manufacturing output, the percentage of crimes solved, or the number of units produced, is undesirable.
Furthermore, efficacy and efficiency can be used to define productivity.
Personnel data such as progress, nonexistence, increments, and delays are also included in performance. When an employee not only performs well in terms of efficiency but also lessens problems for the company by showing up on time, not missing work, and having fewer work-related accidents, they are regarded as great.
