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An employees compensation refers to their salary and benefit arrangements. In contrast, their performance appraisal is a process of assessing how theyre performing against their targets. Some organizations link these while others dont.
15 Types of Performance Appraisals for 2023 Check-Ins. 360 Feedback. Narrative Appraisals or Essay Appraisals. Competency Assessment. Project-Based Reviews. Stack Ranking Appraisals. Grading/Rating Appraisals. Behaviorally Anchored Rating Scales (BARS)
The term performance appraisal refers to the regular review of an employees job performance and overall contribution to a company. Also known as an annual review, employee appraisal, performance review or evaluation, a performance appraisal evaluates an employees skills, achievements, and growth, or lack thereof.
In all major management frameworks, a performance review rating of 5 out of 10 or lower is considered poor. 68 is the average, while 810 suggests overdelivery compared with job expectations. Its important that self-ratings are aligned with the feedback youve gotten from your manager throughout the year.
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