FASTCOLLAB WHY ORGANISATIONS SHOULD DO PERFORMANCE EVALUATION OF EMPLOYEES?
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Performance evaluation helps managers and supervisors to identify gaps, give remedial training, recruit new employee and compensate current employees appropriately. Benefits of Performance Evaluation for employees: A clear and precise communication to employees on what is expected on the job Helps employees make better decisions and work effectively Benefits of Performance Evaluation for employers: Training and development programs run by organisations are cost effective, productive and goal oriented Helps employers to increase competency level of their employees, even greater than the competitors Transparent and accurate record of each employees’ contribution and selfdevelopment in the organisation
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Challenges: Defining the parameters of performance evaluation requires time, effort and constant coordination with multiple sources connected with that employee.
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Alignment: Organisations can successfully align competencies in the performance evaluation with the company’s strategic goals and objectives.
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Implementation: Implementing an effective performance evaluation structure in an organisation, starts with analyzing the business environment and noting the job roles required to achieve strategic goals.
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