Every person who does some work or job expects to get something in return of the efforts extended to other party. This reward or return can be financial or non-financial or a mixture of both. The monetary reward or payment made to the employees by the employer for the service provided for a specific period of time is called salary. This is essentially a periodic payment that is made on regular basis. If you are an employer then salary of the employees will the cost or price of hiring skilled individuals and keeping them in the organization.
In most cases the employees are informed about their salary package before they decide to pursue a job. The salary amount is also mentioned in the job contract of the employee. The human resource department of a business entity utilizes and employs many different methods of performance appraisals. One such method is the salary appraisal form. This piece of paper or document is used for the evaluation of employee’s performance over a specified period of time. once this evaluation is completed the employees will get the reward or return for this work according to the results of the salary appraisal form.
Appraisals are not only beneficial for the employers but also for the employees. They can get assistance for setting up their career development path and objectives and help them achieve high levels of performance according to their full potential. The performance appraisal leads to discussion on previous period’s performance and use it to bring improvement and innovation in work.