A Study On Importance Of Performance Appraisal Management In Multinational Companies

Abstract

A major concern of every organization should be to contribute positively towards the achievement of its objective. Organizational effectiveness is often equated with managerial efficiency. A manager can ensure organizational effectiveness only by guaranteeing the full utilization of human resource available through individual employees under his guidance. Hence, it is always required for a manager to monitor and measure the performance of employees. Moreover, since the organization exists to achieve the goals, the degree of success that individual employees have in reaching this individual goal is important in determining organizational effectiveness. The assessment of how successful employees have been at meeting their individual goal to comes a critical part of human resource management. This leads to concept of performance appraisal. The objective is to know how effective is the execution of performance appraisal system in multinational companies. The aim of most performance appraisal programming is to encourage the employees to set their own objective for the next time period following the review of his past performance. It enables the management to make effective decisions to modify earlier decisions based on the evaluation of the existing plans, information system, job analysis, and internal and external environment factors influencing employee performance. In the present study a attempt has been made to know the actual implementation of performance appraisal techniques in general and some other aspects such as awareness of the workers, effectiveness of the performance appraisal system in particular.