Why Are Employee Appraisals Important? [And Here’s How It’s Done]
Employee appraisals are a critical component of performance management. Companies around the globe assess the performance of their workforce quarterly, biannually, or once every year to determine where they stand. It allows the human resource department to determine recruitment and training needs and spot talented individuals for reward and promotion. In a nutshell, every company must have a strategic reward system for employees.
Here are some key reasons why employee appraisals are important:
Reward performance
Employees who perform exceptionally during the evaluation period are eligible for a monetary reward and/or promotion. Employee appraisals allow management to identify top performers and reward their performance. Recognizing the efforts and hard work of employees incentivizes them to give their best and remain motivated. It also helps companies to map out their best-performing employees’ career paths.
Employee development
Employee appraisals help management identify the under-performing staff that requires guidance and training to perform their job more effectively. It allows companies to address performance issues where necessary and take timely action to solve them. The human resource can set development goals to help the employee overcome their problems and become a productive resource for the business.
Manage changing roles
In today’s dynamic work environment, job roles are constantly changing. New technology or change in the external business environment may require companies to reassign roles to their workforce. Employee appraisals help management understand the additional need for human resources and explain the change in responsibilities to the workforce. It also gives them an opportunity to set goals pertaining to the new responsibilities.
Here’s How It’s Done
Employee appraisals are important. It gives employees a voice and helps companies improve operations. Modern organizations opt for the automated performance management system to achieve a complete insight into employee performance. You must invest in a quality software application to assess and record the performance aspect of your workforce to remain ahead of the competition.
If you’re looking for a reliable performance appraisal systemfor your business in the UAE, get in touch with us today! We offer the latest performance management software that your managers can use to evaluate your employees’ achievements over multiple appraisal cycles and determine their overall performance. You can choose competency-based appraisal, KPI-based appraisal, and more.
Call us at +971 4 351 3733 to get started! For more information, email info@dli-it.com