6 Practical Performance Appraisal Methods for the Modern Workforce!

The employee performance appraisal process is crucial for organizations to boost employee productivity and improve their outcomes. Performance appraisals are an annual process where an employee’s performance and productivity is evaluated against a predetermined set of objectives.

Six modern performance appraisal methods:

1. Management by Objectives (MBO)

2. 360-Degree Feedback

3. Assessment Centre Method

4. Behaviorally Anchored Rating Scale (BARS)

5. Psychological Appraisals

6. Human-Resource (Cost) Accounting Method

Performance appraisal, in earlier days, was an annual ritual that was totally based on recency effect without any performance perspective. Now, times are changing. Data is the new oil for the digital world. You have to build a performance perspective before assessing an employee. Digital solutions like Synergita can help you with that. When an employee is evaluated based on the performance metrics and the data, they will genuinely try to improve themselves as it is a reliable insight. The redefined performance management system should be adopted by companies as soon as possible to retain the employees, increase productivity, and fuel innovation.!