Benefits of performance appraisal
I/ For the appraisee:
1. Increased motivation and job satisfaction.
2. Clear understanding of what is expected and what needs to be done to meet expectations.
3. Opportunity to discuss aspirations and any guidance, support or training needed to fulfill these aspirations.
4. Improved working relationships with the superior.
5. Opportunity to overcome the weaknesses by way of counseling and guidance from the superior.
6. Increased sense of personal value as he too is involved in the appraisal process
II/ For the appraiser:
1. Opportunity to develop an overview of individual jobs.
2. Opportunity to identify strengths and weaknesses of appraisees.
3. Increased job satisfaction.
4. Opportunity to link team and individual objectives with department & organizational objectives.
5. Opportunity to clarify expectations that the manager has from teams and individuals.
6. Opportunity to re-prioritize targets.
7. Means of forming a more productive relationship with staff based on mutual trust and understanding.
8. Due to all above Increased sense of personal value
III/ For the company:
1. Improved performance throughout the organization due to:
• Increased sense of cohesiveness and loyalty.
• Managers are better equipped to use their leadership skills and to develop their staff.
• Effective communication of organization’s objectives and values.
2. Improved overview of tasks performed by each member of a group.
3. Identification of ideas for improvement.
4. Creation and maintenance of a culture of continuous improvement.
5. Communication to people that they are valued.
Each company, organization can apply different types of benefits for their employees.
Popular types of employee benefits can include ones as follows:
1. Medical insurance
2. Disability insurance
3. Life insurance
4. Retirement benefits
5. Domestic partner benefits
6. Paid time off
7. Fringe benefits