Performance Appraisal Strategies
Executive summary
For any company to know the performance of their employees and the value that they bring, it is ideal for carrying out a performance appraisal. Thus, companies should look for the best approach towards this process and use them to gauge their employees. The three methods that companies can use include Management by Objective, Assessment Centre Method, and 360-degree feedback performance appraisal. Of all these methods, 360-degree feedback is the best because employees will get feedback from their circle, including managers, reports, and customers. It is a multidimensional appraisal method and helps the employees polish up on their weaknesses from all these dimensions.
Management by Objective is where both managers and employees point out, schedule, organize, and communicate the objectives that they should concentrate on during a particular appraisal period. The advantage is that all the staff have to work together as a team. The disadvantage is that it measures the output of senior management.
Assessment Centre Method enables employees to have a picture of how their colleagues consider them, and the effect that it has on the services they give to the company. The advantage is that it assesses the performance of the employees as well as predicts the future performance of the job. The disadvantage is that employees who do not get along with their colleagues will give them a wrong impression, and this may affect performance.
360-degree feedback performance appraisal evaluates the employees by using feedback that is collected from their circle of influence like peers, managers, direct reports, and customers. The advantage is that it increases the awareness of the employees concerning their performance as well as the effect on the other stakeholders. The disadvantage is that ineffective planning causes misguided feedback.
It is ideal to adopt one of these strategies, as employees have to gauge themselves in terms of their performance and know the kind of service that they offer. The best approach is the 360 feedback performance as it gives feedback from all dimensions. Employees will see the effect that they have on their circle of influence, and this means that they will get opinions from all quarters. In this way, they will manage to improve in their areas of weaknesses and build on their strengths as they create good relationships with their circles.