GENERAL KNOWLEDGE

Detailed explanation-1: -Performance appraisals are also called annual reviews, performance reviews or evaluations, or employee appraisals. Companies use performance appraisals to determine which employees have contributed the most to the company’s growth, review progress, and reward high-achieving workers.

Detailed explanation-2: -A performance review is a formal assessment in which a manager evaluates an employee’s work performance, identifies strengths and weaknesses, offers feedback, and sets goals for future performance. Performance reviews are also called performance appraisals or performance evaluations.

Detailed explanation-3: -The process includes: (1) setting objectives; (2) recommended mid-year review of the objectives; and (3) an Annual Review at the end of the rating period. Supervisors are encouraged to meet and discuss objectives and performance at other times whenever warranted or desired.

Detailed explanation-4: -A ratings scale-or grading system-is probably the most commonly used performance review method. This method is based on a set of employer-developed criteria-which can include behaviors, traits, competencies, or completed projects-against which employees are judged.

Detailed explanation-5: -What is performance evaluation? Performance Evaluation is defined as a formal and productive procedure to measure an employee’s work and results based on their job responsibilities.