Discuss several (at least 3) recent methods of appraising employees Research Paper

Discuss several (at least 3) recent methods of appraising employees used at specific companies and organizations. Comment on the pros and cons of each - Research Paper Example The abilities, capabilities, talents and skills differ from one employee to the other. There is constantly some difference between the quality and quantity in the same work done by two different individuals. Performance appraisal has been defined as the process of recognizing, evaluating and increasing the work performance of employees in the organization, in order to efficiently achieve the goals and objectives of the organization. Performance appraisal is needed to appraise the performance of employees along with the organization to verify the development towards its preferred objectives and goals.   â€Å"It is a vital component in recruiting and hiring employees where it is used to validate selection procedures† (Grote pg 8). Performance appraisal is considered highly crucial both by educational as well as practicing managers, as it is one of the most important human resource tools. Performance appraisal is a helpful tool in determining the provision of rewards such as higher wage or promotion, to the employees on the basis of their performance. It is a type of feedback given to the employees by the employer. Following are some of the methods of performance appraisal adopted by different companies. In this method, performance of an employee is compared with that of others, who are doing the same type of job. Performances are evaluated graphically and the employees are ranked in the range of top to worst for every performance. â€Å"It may also be done by ranking a person on his job performance against another member of the competitive group† (Performance Appraisal Tools and Techniques para 1). This method is considered to be beneficial for selecting the best performer among the top performers. For example, companies such as Microsoft in US use a ranking method, so that some employees, no matter what the circumstances, must be rated in the bottom 10%. Ford and