Appraisal
Completion requirements
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- 5d Explain corporate missions, corporate culture, corporate social responsibility, human resource management, and labor unions (CLO 7)
Key Takeaways
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Managers conduct performance appraisals to evaluate work performance, usually following a three-step process:
- Setting goals and performance expectations and specifying the criteria for measuring performance
- Completing written evaluations to rate performance according to predetermined criteria
- Meeting with employees to discuss evaluations and ways to improve performance
- Turnover – the permanent separation of an employee from a company – has a negative effect on an organization.
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In addition to offering competitive compensation, companies may take a variety of steps to retain qualified employees:
- Providing appropriate training and development
- Helping employees achieve a satisfying work/nonwork balance in their lives
- Creating a positive work environment
- Recognizing employee efforts
- Involving employees in decision making
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On the other hand, employers may have to terminate the employment of (that is, fire) some workers.
- They may lay off workers because revenues are down and they have to downsize – to cut costs by eliminating jobs.
- Sometimes a job is phased out, and sometimes an employee simply fails to meet performance requirements.
- If there's no written employment contract, the employment relationship falls under the principle of employment-at-will, by which an employer can end it at any time. Usually, however, the employer must show just cause.