Question

difference between performance assesment and performance appraisal

Answer 1

Here is the difference between the performance assessment and performance appraisal.

Performance Appraisal-Performance appraisal is the periodic review or time bound exercise which is executed by HR managers to assess the performance as well as potential of the employee in terms of goal accomplishment, target achievement and achievement toward the mission and vision of the company.

As per the review the company provide feedback to the employee about their performance.

As per the job performance of the employee the company offer them the bonus, compensation, increase in payouts or termination as well.

The companies have limited pool of funds and those have to decide where it should be allocated. In response to that the comp-any analyze which employees have contributed more in the company and as per the contribution the fund is allocated.

Performance Assessment- Performance assessment is very individualistic in nature and follows the Appraisal. In performance assessment the Key Responsibility Area of the employees are compared with heir performance.