Importance of Appraisals in an unfavorable economicscenario

While many companies are in the midst of laying off their employees as a cost cutting initiative, it is that time of the year when the buzz word is ‘appraisals’. To this end, mails have already started reaching inboxes, and most professionals are perplexed as to what to expect this year; thanks to the unfavorable economic scenario, appraisals are being perceived as nothing more than a ‘necessary evil’.

During March and April every move is scrutinized ghosts of missed deadlines reappear and the targets you have achieved are labeled as ‘expected’. But this year sentiments are different and stress levels have reached unexpected heights. Whether or not this appraisal fetches any monetary benefit or career progression, employees are prepared to take the outcome with a bag of salt just to ensure that they are not jobless.

It is critical at this juncture to make people aware of your contributions to the growth of the brand. Moreover, it would be incorrect to completely give up on the likelihood of getting a pay raise.

GT, who works as a copywriter in an advertising firm, is a classic example of how things can suddenly change for the worse. A year back when he was in college, he thanked his lucky stars for finding a job immediately after graduating. He joined at a very low pay because he was confident that his performance over a period of one year will help him get the desired pay. But now he is in a fix as to how to react to the phenomenon of no raises post appraisals, he laments and says it is not in his nature to complain and look at the opportunity in everything he does. GT decides to do is wait and watch and hope it will be a fair game.

However there are others who are not as positive as GT is, Case in point is NB a bank employee who justifies his negative sentiment of not taking this year’s appraisal with the seriousness it deserves when he questions the need of it: Post the second quarter of this fiscal, we have been struggling each day with the problems of low business, tribulations of low employee morale and the company seems to have turned a bind eye to our career progression. Knowing very well that he is not going to get penny out of it, he thinks why should he even bother to walk that extra mile and participate in the process diligently?

Appraisal time is surely not the best time for even the management, especially this year, when things are getting tougher as every employee is struggling to cope up and prove himself/herself as being an asset to the team/company.

Head, Human Resources, ICICI Lombard General Insurance, considers appraisals to be a necessary protocol that have their presence justified in the corporate scheme of things. The aim of an appraisal system is to give employees a feedback on their performance. Appraisals help in obtaining an accurate assessment of their work and correct the course as required. Assessment of work is essential in all industries at all times and is thus not dependent on the environment or state of the economy.

The process of employee appraisals is an essential protocol and does not depend on external factors. The very essence of performance management system is to help align an individual’s contribution to the organizational objectives. Incentives and increments are just one outcome of appraisals. At Intelenet, they follow a robust performance management system which is an important measure of employee performance and potential in the workplace which facilitates employee development within organization. Appraisals which are part of the performance management process are also a key indicator to enable organizations take stock of changing employee goals and mapping alignment of these goals to the organizational goals which helps them closely monitor strategies in times of the recession.

It is then evident that even though it’s unlikely that you get yourself a raise in the current scenario appraisals can serve an important purpose by aiding you make your presence felt in the organization and demonstrate yourself as a valuable resource in the core processes. Therefore, it is advisable to take it seriously.