Top Objectives of Performance Appraisal

 

Top Objectives of Performance Appraisal

1. Goal Setting Is Integral To Systematic Evaluation

•        Clear Expectations: Setting goals makes it simpler to establish the expected performance standards. However, employees need to understand what you're expecting from them. You must be clear about the criteria used to evaluate job performance when setting goals.

•      Involve Your Employees While Setting Goals: Subsequently, allow employees to have a say in the goal-setting process. Discuss how much time, resources, and guidance the employee will need to achieve their set goals.

•  Utilize A Goal-Setting Framework: The key to effective goal-setting is to prioritize quality over quantity. Use a goal-setting framework such as SMART to ensure that you are setting high-quality goals.

2. Simplify Promotion Awarding Decisions

A big part of performance appraisal is to give employees what they need the most. And that happens to be career development.

The employee expects at least something out of their annual reviews. For some, it's to get promoted. For others, it's being given a pay raise. A select few also demand extras like switching teams, changing job roles, or landing a managerial position.

The inability to give employees what they want can end up in employees leaving the company.

 3. Encourage Higher Levels of Work Quality and Quantity

 

An effective performance appraisal system helps companies communicate performance standards and what behaviors are reward-worthy.

An effective performance appraisal process establishes a clear standard for the level of work expected of the employee. That, in turn, becomes a roadmap for employees to follow.

For employees who want to further their career development, the performance appraisal process motivates them to perform at the top of their game.

Employees gain insight into their strengths and weaknesses when they receive a thorough report of their work performance.

Performance reviews serve as a wake-up call for underachievers, motivating them to step up and work harder towards their goals.

 4. Counsel Poor Performing Employees

The harsh reality is that not everyone will meet your company's standards. However, telling an underachiever that they did not meet the performance evaluation standards is a hard task for the manager.

Most managers make a mistake here by focusing only on the negative aspects. Discussing only the negatives of someone's work performance may make the employee resent you.

Counseling in itself is a two-way process. The manager needs to work with the employee to understand the cause of the unsatisfactory quality and quantity of work.

Balancing strengths and weaknesses is the key to delivering an actionable performance review for an underachiever.

5. Determining Training and Development Needs

•         Assess the training and development needs during the performance review.
•     Design a training and development program to help your people enhance their skills and competencies

 

 

After the performance evaluation, managers can better spot areas where employees are falling behind. This, in turn, helps managers decide the type and frequency of training required on a company-wide basis.

 

 

6. Creating a Plan to Improve the Performance of the Employees

A performance appraisal is a great base to start identifying the areas of strengths and weaknesses of your workforce. These evaluations make it simpler for managers to express their expectations clearly.

The next step is to build an action plan that builds on your employees' strengths and gets rid of their weaknesses.

·         Clearly state your expectations to the employees. Transparency is the key here. Unless employees know what is expected of them, they will not be able to work towards the relevant goals.

·         Issue a deadline. A deadline makes it easier for employees to stay on track and map their progress over time.

·         Introduce a PMS (performance management software). Manually keeping track of your employees' progress is unfeasible and confusing. Especially if you are dealing with a large workforce. A PMS will solve all of these problems and more.

These action plans might include further training and development, additional mentoring, or more efficient goal-setting. The manager should make sure that the employee is kept in the loop with continuous feedback.