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Performance Appraisal

Performance appraisal is one kind of monetary benefits earn by the employee by their additional efforts and excellent performance within group and achieve above their defined objective meet expectation is called reward. The reward system is a collection of n numbers of benefits of brain structure which introduce to control and induce the behavior of the employees with positive effects. Reward help to reinforce and create re-energy within the employees. Reward directly related with the working environment. If the business environment is changing it highly impacts reward policies and practices because business environment is a place where person spends most of his time in job and which is really very much important in one’s life. There should be good environment in good human activities. The surroundings affect a lot in terms of work and there are two types of environment that come in business and that is internal and external. Internal environment describes about the internal behavior in the business and workplace that is related to the people around, the behavior of the people around, the money in finance point of view, the materials inside the company that requires in business, the machinery which is required to complete the task and the most important thing is the management who can control the activities as well as business. So there are five different things altogether which require in the business. Now let me describe these things which come in internal environment: The management who manages the business and controls the people if the environment will change then there will be an impact in the reward policies as well because the management if not taking care of the workplace will not be able to give good business to the company so the goal will get affect and there will be a high impact on reward policies. People if not co-ordinate and respond nicely and work properly it will impact the policies whether it’s a reward or anything else because people are the key assets in many organization and an organization depends on them for achieving the goal and if the goal does not get achieved there will be impact in reward system very highly. If the money and income in terms of profit does not come as per expected then there will be an impact in reward policies. If the machinery is not available as per required then there will be a high impact in the work and there will be an impact in reward policies because the purpose will remain incomplete which highly will impact these policy systems. The behavior when changes for example if our Management or team members then there will be a huge impact in the policy.

Payroll system is a form of periodic payment from an employer to an employee, which may be specified in a contract between employer and employee. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. Payroll is fixed and pay on monthly or defined as per contract periodically basis. This is not related with performance but reward is associated with performance and is form of additional benefits. Where reward can be both types’ monitory and non monitory but the payroll and pay system (salary) is defined as a form of monitory. Reward theory presents an overview about the performance and additional effort and benefits associated with it of the employees. It is basically a goal setting theory which is a driving force to achieve the goals. It is basically for humans and for their motivation at work. These are the few defined points which might come in the way of employees while at work place because these are the company’s goals and the company basically look for its achievement as well if there will be no business there will be no achievement so how can the employees expect the high profits and high salary because if there is a huge change in the organization there will be a change also entire organization whoever are related to it in any terms and policies so the reduction in the payroll packages will exist. There will be a change in the huge term because for an organization the most important thing is to achieve the goal and the purpose for which it exists and that will only be complete if there will be a result positively in all aspects. If they focus on goals and achievements and do not get result accordingly then there will be a change. It is to have a control on their free times. Any benefit that received by an employee from an employer which is not part of the compensation package that is salary or payroll for the specific purpose of attracting to the company as well as retaining and motivating to the employees to perform consistent better and better is called non monetary reward example: appreciation mails, discount coupons gifts etc . Apart from these the reward theories are reinforcement theory, social learning theory and expectancy theory where low and top managers use different tactics and strategy in terms of reward and recognition to achieve a defined objective and goals for the organization. From the Maslow’s Hierarchy theory, two factors related with the implication part and it is a connection of motivation, mental health of an employees and the environment of work. Maslow’s theory suggests that employees look for psychological needs most which include achievement, recognition, advancement, reward benefits, responsibility and the job nature that matters a lot in an employees work. From Maslow’s Hierarchy needs, the incentive is a great reward for an employee to the way of satisfaction. The above three needs that is Self actualization, ego status, belonging is directly related to the motivation part and the last two is a hygiene factors that is safety and basic needs which also satisfy and make the employee stick and stable to an organization. The link between power and trust or honesty is based on the practices and policies and policies and practices depend on these two terms. If the employees are working and providing solutions on time working with full efforts and full interest and showing their skills in terms of work then they are getting good policies from the organization from which they feel more positive and more motivated in the work place as they also feel to work more and they respect the organization also and its policies as well and feel to continue with it till the day they want to relate with work so see how these matter a lot in organization.

If we see an example of the organization of TATA steel which is located in Jamshedpur then we found from the research that the company provides lot of facilities and lot of policies to its employees in terms of accommodation, travelling, food facilities, hospital facilities etc for them so they feel they are important and they are really matter a lot in an organization so they provide not only the solutions but also the quality based solutions to their organizations. So the policy is linked to honesty and trust not with the power because nobody can achieve anything with power till they don’t have the authority.