Credit Appraisal Benefits

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About the Benefits of a Performance Appraisal System
There are a number of benefits to be received from a performance appraisal system. However, you have to determine your goals. A system should be in place that helps employees understand their jobs a little better. Typically, a performance appraisal is given every six months or once a year. A performance appraisal helps give an employee some direction and education regarding his current position and future growth and development. Goals and Objectives

A performance appraisal system allows an employee to periodically receive feedback regarding his performance as well as his goals and objectives. An employee wants to know how he matches up to the goals that have been set by the company. A performance appraisal will provide this information by being as objective as possible. The best way to do this is using some type of measurement. If an employee is expected to close five sales per day and someone is only closing two sales per day, then the performance appraisal should outline this information. The employee should be told about the variance and then management or the immediate supervisor should provide feedback. The feedback should give the employee some insight about what is causing the variance and how it can be corrected. Feedback

An employee should be allowed to give his opinion about a particular system or method. When an employee is allowed to give feedback, it opens the lines of communication with management and everyone involved will benefit from the process. Feedback helps to get rid of misconceptions and it keeps everyone from making assumptions. A performance appraisal system should allow an employee the opportunity to make recommendations and suggestions about the best way to correct the work deficiencies. When an employee truly wants to improve, he will provide the methods that will truly help him improve. An employee should be able to rate his supervisor in terms of the administration of his job...
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