Three unusual benefits doing performance appraisals will have on your company

Simangele Mzizi, Fsp Business, 23 Jul. 2014

Tags: appraisals, performance appraisals, benefits of performance appraisals

A performance appraisal is the process of evaluating or judging how well your employee is performing.

If you conduct performance appraisals effectively, they’ll offer your company significant benefits.

Read on to discover the three benefits your company stands to gain from performance appraisals so you can get the most from this process.


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Here are the three benefits of performance appraisals to your company

Benefit #1: You’ll improve communication

According to Small Business Chron, all too often, employees and managers don’t get along and can't understand why.

The good news is you can resolve problems that stem from a lack of communication with a performance appraisal.

If you use the appraisal as an opportunity to describe the criteria on which you judge performance – using meaningful and relevant examples – your employee will walk away from the meeting with a better understanding of how to best perform his job.

Benefit #2: You’ll be able to provide a career path

The performance appraisal is the perfect opportunity to address long-term goals that may not be on your everyday to-do list. Not only does this provide your employee with an opportunity to be of greater use to your company, your employee feels pleased and valued, says Small Business Chron.

The site adds, “lighting the way toward a successful career path inspires loyalty and stability and can improve the bottom line, especially when your employee’s first concern is the health of the business and, subsequently her career.”

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Here’s one more benefit of performance appraisals to your company

Benefit #3: You’ll improve decision-making ability

When a company has detailed information on employee performance, business decisions become easier. Knowing which employees display what strengths improves the speed with which to assign projects.

Overall, the effective use of performance appraisals will help your company to operate efficiently and with focus, concludes Small Business Chron.

Now that you know the benefits of performance appraisals to your company, make sure your appraisals are effective so you can reap all these benefits.

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