All the profit-driven organizations in the world define large and long-term goals for consistent business growth. And to attain these objectives they set and allocate brief targets for the employees to achieve on a daily, weekly, monthly as well as yearly basis. The performance of the workforce is constantly tracked and reviewed at fixed intervals of time in order to recognize and reward outstanding performers when the time comes.
This particular session is viewed as the appraisal time and there are several performance appraisal methods that employers follow to honor the extraordinary contribution of their manpower. For a very long time, this practice of Rewards & Recognition was led in a traditional manner. Now, there are a few new ways to accord the deserving employees and it is not only by counting their numbers and studying the results, but there is also more to it. Let’s see how:
Any Day’s Appraisal Day
Unlike earlier times when a particular month was selected to present awards to the winners/ achievers, some companies now follow the trend of ad hoc and spontaneous give away of prizes. It not only reduces the pressure of the organizers/ employers to go through a gamut of steps but also takes the last-minute stress off the employees’ minds as they don’t know when to expect the fruits of their hard work. This activity of surprising the working professionals with a random R & R announcement keeps the spark and motivation alive all the time. So, do not save one date to download and issue the appraisal letter format, rather keep the possibilities open
Self Assessment Is Better
Employees are always analyzed through the lens of their managers and supervisors. It’s high time they should be given the opportunity to speak about themselves. The very appraisal meaning is estimation or judgment but it doesn’t necessarily imply to be done by someone else. So, self-evaluation is a great option to know the employee’s side of the story in justifying their performances and it will also help to understand how confident the employees are and what they think about their own show.
360 Degree Review Speaks Volumes
Now once the employee has spoken about his/ her own numbers and productivity, it is also imperative to hear from the co-workers. The concept of 360-degree assessment aims to take feedback about an all-round performance and personality of a colleague. When more than one person vouches for a single candidate, it makes the process of nominating and selecting winners way easier. Also, if the reviews are mixed, it puts things into perspective.
Value Upgradation Off Work
There can be KPIs established for the employees that don’t just showcase their regular productivity but also exhibit their practical knowledge gained from external training and enrolment in relevant courses. An employee deserves extra appreciation and rewards for going out of the way and walking the extra mile to acquire additional skills. Thus, the endeavours made after office hours can also be counted at the time of R & R.
Include Interpersonal Skills Too
When you think of appraisal meaning, all that comes to your mind is evaluating core competencies and calculating productivity. What about the conduct and personality traits of the employee? Someone with a suspicious background or a criminal record doesn’t fit in a higher position in the hierarchy. So, promotions and appraisals must be conducted with extreme discernment and caution. Along with an impressive scorecard, the recipient must also possess interpersonal/ soft skills and basic professional ethics.
Gone are the days when only managers had the authority to make or break an employee’s career. It involved biased reviews, personal grudges and other factors which made the whole appraisal process unfair. Therefore, it’s time for you to bring about a change in your performance appraisal procedure and revamp the steps involved in planning the same.