Outline the benefits of performance appraisal for employees in a business. - Leaving Cert Business - Question B - 2015
Question B
Outline the benefits of performance appraisal for employees in a business.
Worked Solution & Example Answer:Outline the benefits of performance appraisal for employees in a business. - Leaving Cert Business - Question B - 2015
Step 1
Rewards/Monetary and Non Monetary
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Answer
Performance appraisals can help determine appropriate rewards for employees, including pay increases and bonuses. This ensures that high performers are recognized and incentivized, which can enhance overall job satisfaction and motivation.
Step 2
Motivation/Job Satisfaction
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Conducting performance appraisals is crucial for improving motivation and job satisfaction. This process fosters a positive relationship between management and employees, allowing employees to feel valued and aligned with company goals.
Step 3
Industrial Relations
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Performance appraisals help identify and address potential conflicts within the workplace. By highlighting these issues, businesses can maintain a harmonious work environment and improve employee relations.
Step 4
Training and Development
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The appraisal process can pinpoint areas for employee growth and training needs. By assessing performance, management can tailor development programs that enhance skills and career advancement opportunities for employees.
Step 5
Feedback
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Performance appraisals provide a structured opportunity for employees to receive constructive feedback on their performance. This feedback loop is essential for personal development and helps improve job satisfaction.
Step 6
Evaluate the Performance of Management and Employees
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Appraisals allow for the evaluation of management effectiveness based on employee performance. This dual assessment promotes accountability and helps set future goals for both employees and management.
Step 7
Promotional Path/Recognition
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Answer
The appraisal process identifies employees' strengths, enabling management to recognize top-performing individuals. This recognition can lead to promotions and further career development, motivating employees to excel in their roles.
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