Frederick Taylor and his followers introduced the first formal monitoring system prior to World War I. In the year 1950, it was recognized that appraisal is a useful tool for motivation as well as development of the employees. In the year 1970, the term performance management was introduced by Beer and Ruh. The later section of the project deals with the literature review of performance appraisal where previously conducted research has been taken into consideration in order generate to ideas and to make the base stronger. The last two section deals with the problems as well as recommendations for performance appraisal.
Human resource management is one of the most important functions for any organization. It deals with matters relating to staffing, skill management, performance management, payroll, training and development, recruitment and selection among others. HRM is a management driven activity, focused on the values of the business, commitment oriented, with diverse strategic scope which gives strong stress on incorporation. This paper deals with the discipline of performance management which is one of the most important aspects of HRM (Armstrong, 2006).
Performance management is one of the most important developments in the areas of human resource management. It is a tool which helps to measure the performance of the employees as well as improve their way of working so that the goals of the organization are achieved in an effective and efficient manner. It is very often found that whenever one thinks of performance in an organization, the first thing that comes to our mind is performance of the employees. Infact the performance management must deal with the products or services, programs, processes, departments, organization, teams and groups, etc.
360 degree feedback method is the modern appraisal method which includes feedback from everyone including self ratings, peer review and upward assessment. It helps in