I would like to know how the Appraisal system will help in growing business..

Warm Regards,

Barkha Doshi

Appraisal system alone will not help much but having a proper performance management system in place will help your business to grow in the following ways.

1. Explaining the goals of the company to employees by laying down the KRA's individually
2. Each employee knows what is expected of them and hence accordingly performance in turn helping the organization achieve growth
3. The system also acts as a way of many people coming together and enteracting with each other..( if you use a 360 degree approach then employees from other dept get a chance to interact with each other a little less formally, it depends upon what the company's view about apprasials and feedbacks.
4. It guides and tells the employees what mistakes are being made and how it can be improved
5. Skills lacking can be found out by this and hence accordingly the company can help the employees in cultivating those skills.
6. Future leaders can be identified ( hence they can be groomed accordingly).

There are many more which i might be missing at the moment ..but the bottomline is this that majority of the working force would definitely like to have an idea about what the company is doing and how are they contributing to it's success and enventually act as a motivator for them to work towards that goal..

I am not sure about your industry ..but as a personal exp the perf management system has worked quite well in our organization ( which is a startup company) after we had the system in place the people have become more focused in turn helping the company grow...:)

Regards
Nikhil

Dear Colleagues,

Appraisals are the source which help in :

(a) Competency mapping

(b) Training need identification

(c) Potential assessment

(d) Career path planning

Growing business needs all these activities and to that extent performance appraisal turns out to be an important tool and source of data.

Hope this helps.

Regards,

Prof Tandon