Appraisal and Reward Program

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Abstract

Performance appraisal and reward programs are initiated for the purpose to judge the ability of employees on individual basis. The numerous advantages of execution of such programs have benefitted organizations immensely. In this paper, the agendas, purposes and implementation of those programs will be discussed. I will throw light upon the role of human resource regarding appraisal programs and how to create a win-win situation for both company and its employees. Few approaches that are being used in the development program will also be elaborated. The reward programs are therefore, designed and executed according to the performance of every employee with profound evaluation.

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Developing an Appraisal and Reward Program

In order to bring immense talent out of an employee for the fulfillment of job requirement, certain programs are initiated which are need of every firm or organization. To present rewards to humans for their commendable work is one of the components of personality building, which assures growth and credibility, as described through a 'Developing an Appraisal and Reward Program.'

Humans have the tendency to judge their co-workers or people working under them which is directly related to performance appraisal. It is an old formula which has been in use for so many decades now and giving fruitful results as required by the organizations. We can trace back performance appraisal from World War II, which has been giving tremendous outcome. There are few workable approaches that assist people to evaluate the performance of employees working for them. As appraisals and rewards are essential parts of any organization, therefore, their execution on certain levels is also necessary.

To further define these approaches you have to understand their need and purpose. Under traditional approach the justification of wages or salary is being checked of every employee undertaking his/her performance. An increase in salary or wages would definitely be upon the good performance which is monitored by the immediate supervisor. Similarly, a decrease in salary would be followed by incompetency to complete tasks that are expected to be done within the given timeline. It is not directly related to development program, which could either be a cut in pay in order to improve in your respective field. This approach is concerned with performance of employees considering their past performances and making policies which will assist in bringing the best out of an employee. It has been seen that traditional approach is not as

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much as thriving as it was expected to be. It can be used as a tool to motivate the employees to show dedication towards their work but not completely applicable in every organization.

Furthermore, to determine a greater outcome, modern approach of performance appraisal has been implemented in almost every organization to progress and compete in the business world. This approach eventually helps to reward deserving employees who are competent enough to be awarded for their hard work and dedication, which includes increase in salary, bonuses and other facilities. It is thoroughly structured between the supervisor and subordinate which work together to take company towards prosperity. The duration of performance appraisal is periodical and conducted in a year or twice in a year. A platform is, therefore, build to evaluate the strengths and weaknesses of employees and formulate policies that can bring viable changes in the existing system. If an employee fails to perform as expected then demotion or termination is the action to be taken against the employee. This approach includes the element of development which works toward goal achievement.

According to some researchers and psychometricians the reliability of these programs are the primary need of any organization which analyze the performance and take into account the factors that could directly affect the organization.

There is a strong linkage between performance appraisal and rewards; an appraisal received on performance basis seems to give more productive results than any other technique. On receiving appraises, an employees' performance gets better as expected, done on the basis of assessment. The management has to perform certain task to retain confidence of its employees

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if they wish to get the best result