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The amount of added advantage a company attains from a properly implemented performance appraisal process and system is immense. This performance appraisal process and system can be a key driver of greater company performance through the maximizing of team and individual performances and their potential. It can also help to attract, retain and develop people.
However, there are several issues or disadvantages during the process of implementing a performance appraisal system that are frequently highlighted, here are some of the common ones:
As such, is there anything that can be done about these issues? Observing, some of the more well-known multinational companies who have done some major changes with the processes, yes. In general, the traditional annual reviews and performance ranking tool was modified to be more people-centric and focused more on the coaching and development aspect of the appraisal process. Their modified version of the performance appraisal process continues function as should a general performance appraisal management process and system but with added flexibility and effectiveness.
Watch out for our upcoming e-book on how to properly implement a performance management system that will greatly assist with your appraisal process and provide you with solutions to handle the issues mentioned above.