Review Of Compensation Based Off Feedback Surveys Or Attrition

1567 Words Aug 30th, 2015 7 Pages
Lastly, Human resource is also constantly evaluating how effective the company policies and practices are working. These evaluations also provide insight into what areas might need improvement, whether it is new or additional training needs. Review of compensation based off feedback surveys or attrition. These performance checks are done at various levels and can be conducted at preset times throughout the year. Understanding the difference between Performance Management versus Performance Appraisal, although both terms are used interchangeably, they are in fact different but dependent. In a nutshell, performance management is a continuous process approach to achieve performance goals and objects. Business Dictionary defines performance management is defined as:
An assessment of an employee, process, equipment or other factor to gauge progress toward predetermined goals. Conducting performance appraisals is critical to the success
Business Dictionary defines a performance appraisal as:
The process by which a manager or consultant examines and evaluates an employee 's work behavior by comparing it with preset standards, documents the results of the comparison, and uses the results to provide feedback to the employee to show where improvements are needed and why.
Still confused? Let’s look at how they are different and then we can look at how they are similar or dependent.
Performance Management is an ongoing assessment of the goals and objectives for the company or a…
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