PERFORMANCE APPRAISAL and REWARD MANAGEMENT

Acc. Wayne Cascio ,"performance evaluation is a review of the job-related strengths and weakness of individual or a team in an organization."


PROCESS OF PERFORMANCE APPRAISAL
1.set performance standards
2.communicate standards
3.measure actual performance
4.discussion
5.corrective actions

USES OF PERFORMANCE APPRAISAL
1.performance feedback
2.reward management
3.training and development
4.promotion,transfer,termination
5.validation of selection tests
6.supervisory understanding
7.career planning and succession planning
8.policy formulation


METHODS OF PERFORMANCE APPRAISAL
job standard-oriented methods
a.essay method
b.check-list method
c.forced distribution method
d.graphic rating scale method
e.critical incident method

comparison-oriented methods
a.alternative ranking method
b.paired comparison method


REWARD MANAGEMENT
Acc. Michael Armstrong ,"reward system is essentially about designing ,implementing and maintaining pay systems which help to improve organizational performance."
pay
benefits
services
job-related reward


TYPES OF REWARD
1.intrinsic and extrinsic reward(antarik ra bahya)
intrinsic reward
a.interesting job
b.responsibility
c.job freedom
d.growth opportunities
e.participation
f.diversity in activities
extrinsic reward

2.financial and non-financial reward
financial reward
a.performance-based financial reward
b.membership-based reward
non-financial reward
a.status-based(maryada)
b.privilege-based (besesadhekar)


QUALITIES OF EFFECTIVE REWARDS
1.improtant
2.equitable(samatamulak)
3.visibility
4.flexibility
5.competitive
6.cost effective