CONCEPT 9
PERFORMANCE APPRAISAL
Performance appraisal also known as employee appraisal is a process by which employee job performance is evaluated and documented for future improvement, strengths and weaknesses.
9.1. PERSONAL CONCEPT
In nursing, performance appraisal is a periodic formal evaluation on how well the nurse has performed his/her duties during a specified period- By Ann Inanier. The aim of Performance Appraisal is to give feedback in the form of give-and-take between the nurse and his/her supervisor.
To identify the strength and weakness of the nurse and also to improve on her weakness and recommend on her strength.
Through performance appraisal, the personnel need for training and courses are identified and the need for his/her
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Improving staff efficacy and effectiveness is only possible in light of their performance appraisal (Torabi and Sufodeh 2010). Performance Appraisal does not always increase productivity, it may be biased, not accurate and not accepted by users. Occasionally, performance appraisal system has been linked to increase in dissatisfaction, lack of motivation, resistance especially on the part of the appraiser/employees. This condition is due to other errors in the content of evaluation biases in the process of evaluation, disharmony between employee needs and appraisal goals or the absence of clear and independent dimensions (Grangreio, Caruguti, Sebastiano and Tamimi …show more content…
Then what is Superannuation?
Superannuation or Pension Fund as it is called in my hospital is a process whereby an employee and employers contribute certain percentage of their salary to the Pension Scheme which is accumulated and kept for the employee retirement benefits.
This money goes to the employee on retirement or termination of job and to the family at the death of the employee.
10.3. APPLICATION TO CURRENT JOB
In my hospital, promotion is usually done through performance appraisal or PMP for both contract and regular employees. Then for locum moving into contract job or contract nurses moving up to regular staff, this promotion is usually done through HR by written examination or selection by merit. Though these always come with favouritism.
10.4. CURRENT RESEARCH
If organizations/hospitals have policy on promotion level, why then is there problems regarding promotion like
- Controversy over the relative values of seniority and merit?
- Difficult human relation problems that arises during promotion?
- Also, if Superannuation scheme is meant to save money for employee retirement, why is it that the scheme finds it difficult to release the money when the employee is retired or to release it to the family when the employee is
Can We Keep Our Promises? The purpose of this paper is to provide a summary of the article called “Can We Keep Our Promises?” by Robert D. Arnott, and to help better understand the three key risks facing each investor. Robert Arnott describes risk and return as “having two sides of the same coin” meaning risk is inseparable from return. Arnott points out the most important risks that are faced by managers of company pension plans: underperforming other corporate pension funds (their peers), losing money (mostly associated with portfolio standard deviation or volatility), and underperforming the values of pension obligations and therefore losing actuarial ground.
Patrick, C 2004, The Guardian: Australia may hold key to pensions, 12 October 2004, retrieved 21 July 2006
The objective of the SEPF is to provide union members with a lifetime monthly pension benefit upon retirement. With the events that took place on September 11, 2001, the fund has suffered a loss from their investments, like so many other plans have. This loss resulted in the fund having to make changes including the inability to give retirees annual increases in their monthly pension benefit and a 20% reduction in the way the plan calculates future benefits.
Journal of Promotion Management, 2010, 16, 3,411-427.
Investment opportunities with pension plan members to offer them additional services (cross-over), as well as to reinvest their pension plan earnings after they retire (roll-over);
The performance assessment and appraisal forms are crucial within the performance management system (Aguinis, 2014). However, the appraisal form within the case study provided is designed for the supervisor’s use thus missing one vital factor throughout the entire process, employee participation. Thus, questioning the validity and reliability of the process. This is especially concerning as the bottom 10 per cent of employees are being fired and the top 20 per cent are being rewarded with $5,000.00 based on what their supervisor records on the form without consultation with employees. Thus, supervisors may not provide accurate scores as they do not have to justify their responses (Aguinis,
In the defined-benefit plan, an employee is usually paid an amount from their pension based on their ending salary and the number of years employed with the company, usually paid out monthly for life. Money is set aside regularly by the company and is professionally managed. This ensures that the money will grow to adequately pay the retiree the agreed upon and promised amount.
accounts, and it funded primarily by the employees, and the employer will match contributions to
From a tax perspective, amounts paid into the pension fund by BTH and employees are tax-deductible on corporate and personal income tax returns. Em...
By applying an opened inner-promotion policy, it can offer employees extra self-promoted opportunities, to those who feel they get enough experiences and skills to become a store managers or fell that the organization?s core value or underlying principles are no longer upheld by the current store managers (Miles and Mangold, 2005). Such employee empowerment approach could lead to a dual-administration effect, as well as better fulfill the individual needs of self-esteem and self-actualization, thus, a talent workforce will be achieved((Maslow, 2013). In particular, such policy can serve as a ?cap? on the trend of world-wide pay rise, which can provide actual time to adjust for local dynamics. Referring to the Hofstede?s Power Ratio, such policy may work more effectively in the Asia market, as the Asian viewed career development is more important than monetary incentives.
Performance appraisal is perceived by most as a tool to reward or penalize employees for their good or bad work respectively by the end of a year. This notion is a challenge in itself to deal with. The whole exercise becomes dull for both supervisors and their subordinates and they tend to look at it as an additional responsibility which they have to finish. In the end, there is little or no value addition for either the employee or the organization. There are, however, better ways of looking at and conducting performance appraisals. It can give much needed feedback to both performers and laggards to improve upon and if done properly can even boost their motivation. More importantly, they provide a chance to employees to have a say in their goal setting and thus aligning it with the departmental and organizational goals. Also, the process itself has a value in team making.
Sudbury, MA: Jones and Bartlett Publishers. Green, A. (2007). Promoting from within. Retrieved from http://www.boston.com/jobs/on_staffing/111907.shtml. Javitch, D. (2005).
Internal promotions and a higher place in the hierarchical level should push people to strive for recognition.
Although performance is a major objective at top organizations, successfully addressing poor performance is also a key focus. Although many employees feel or dread performance appraisals they are directed to enforce clarity with individual employees day-to-day work-load, performance appraisals develops responsibility while making employees accountable for performance expectations, reinforces future career planning, helps the organization with determining training needs, and provides a stem of documentation for legality purposes. Performance management in detail is much broader than many employers, and employees assume and necessitates so much more. Proficient appraisals should represent a summary of on-going dialogue. Focusing only on an annual performance evaluation leads to misrepresentation of the performance management process in its
...organizational annual pay and grading reviews, Performance appraisals generally review each individual's performance against objectives and standards for the trading year, agreed at the previous appraisal meeting. Performance appraisals are also essential for career and succession planning - for individuals, crucial jobs, and for the organization as a whole. Performance appraisals are important for staff motivation, attitude and behavior development, communicating and aligning individual and organizational aims, and fostering positive relationships between management and staff. Performance appraisals provide a formal, recorded, regular review of an individual's performance, and a plan for future development.