Effectiveness of Performance Appraisal System of Insurance Sector- A study of Himachal Pradesh

Abstract

Performance appraisal is predominantly used • as a device to measure the standards set by the management of its employees. Performance appraisal To conduct a systematic review of employees' overall performance and provide constructive feedback. To provide objective information to guide management decisions on promotions and other issues pertaining to the same. is a process of assessing, summarizing and • developing the worl< of an employee on both qualitative as well as quantitative terms. Normally, the performance evaluation of an employee is done by his • immediate senior or some expert. In this pattern, To establish an objective basis for determining annual performance. various rating systems are employed in order to recognize the potentials and deficiencies of an employee_