{"id":2599,"date":"2022-03-12T07:51:33","date_gmt":"2022-03-12T02:21:33","guid":{"rendered":"https:\/\/www.plancover.com\/insurance\/?p=2599"},"modified":"2022-03-12T07:51:36","modified_gmt":"2022-03-12T02:21:36","slug":"do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction","status":"publish","type":"post","link":"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/","title":{"rendered":"Do Performance Appraisals and Employee Benefits Boost Employee Satisfaction?"},"content":{"rendered":"\n<p>Human Resources (HR) form one of the most important departments of any company. A small business can thrive in a competitive environment if its HR department can appreciate the employees most professionally. It helps in improving employee satisfaction.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a065f379400e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a065f379400e\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#The_meaning_of_Performance_Appraisal\" title=\"The meaning of Performance Appraisal\u00a0\">The meaning of Performance Appraisal\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Several_ways_of_evaluation\" title=\"Several ways of evaluation\u00a0\">Several ways of evaluation\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#The_HR_documents_the_evaluation\" title=\"The HR documents the evaluation\">The HR documents the evaluation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Research_studies_speak_in_favour_of_performance_appraisals\" title=\"Research studies speak in favour of performance appraisals\">Research studies speak in favour of performance appraisals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#More_clarity_on_achievable_goals\" title=\"More clarity on achievable goals\">More clarity on achievable goals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Increasing_the_accountability_of_the_employee\" title=\"Increasing the accountability of the employee\">Increasing the accountability of the employee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Developing_a_personal_commitment\" title=\"Developing a personal commitment\">Developing a personal commitment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Identifying_the_potential_in_an_employee\" title=\"Identifying the potential in an employee\">Identifying the potential in an employee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Identifying_training_and_development_areas\" title=\"Identifying training and development areas\">Identifying training and development areas<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Locating_the_discrepancies\" title=\"Locating the discrepancies\">Locating the discrepancies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Salary_increment_is_one_of_the_main_appraisal_strategies\" title=\"Salary increment is one of the main appraisal strategies\u00a0\">Salary increment is one of the main appraisal strategies\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Providing_health_insurance\" title=\"Providing health insurance\">Providing health insurance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Providing_lifestyle_benefits\" title=\"Providing lifestyle benefits\u00a0\">Providing lifestyle benefits\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Integrating_a_consistent_feedback_system\" title=\"Integrating a consistent feedback system\u00a0\">Integrating a consistent feedback system\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#What_happens_when_there_is_more_employee_satisfaction\" title=\"What happens when there is more employee satisfaction?\">What happens when there is more employee satisfaction?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.plancover.com\/insurance\/do-performance-appraisals-and-employee-benefits-boost-employee-satisfaction\/#Evolving_the_appraisal_strategies\" title=\"Evolving the appraisal strategies\u00a0\">Evolving the appraisal strategies\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_meaning_of_Performance_Appraisal\"><\/span>The meaning of Performance Appraisal\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In simple terms, performance appraisal means an unbiased evaluation of the overall performance of the employee and providing him benefits based on the results. The extent of performance appraisal depends on the efficiency that the employee has clocked for the company.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Several_ways_of_evaluation\"><\/span>Several ways of evaluation\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are several ways to measure and evaluate the performance of an employee. The methods depend on the nature and scale of business, and the designation along with the functionalities of the employee. The HR sets the standards for the evaluation and use certified methods to perform the task.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_HR_documents_the_evaluation\"><\/span>The HR documents the evaluation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The HR department designs the methods to evaluate the employees. They do a comparative analysis of the reports of various employees, and accordingly, extend the benefits to them. The process remains organized under the efficient management of the HR.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Research_studies_speak_in_favour_of_performance_appraisals\"><\/span>Research studies speak in favour of performance appraisals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There have been numerous research studies that speak in favour of performance appraisals, and considered them to be quite effective in boosting employee satisfaction. The appraisal adds more value to the company by letting it know the strengths and weaknesses of its employees*.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"More_clarity_on_achievable_goals\"><\/span>More clarity on achievable goals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The appraisal plays an instrumental role in providing more clarity about the achievable goals of the company. The management of the company gets coherent ideas about the HR strategies to be implemented to re-organize the teams and strive for excellence in a more proactive manner.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Increasing_the_accountability_of_the_employee\"><\/span>Increasing the accountability of the employee<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There is no doubt that the appraisal process has a major significance in increasing the accountability of the employee of your company. He\/she receives clearer guidelines about his\/her job and the responsibilities he has fulfilled and is expected to continue, in a better way. Also, he becomes aware of the areas where more effort is needed.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Developing_a_personal_commitment\"><\/span>Developing a personal commitment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The HR, through modern appraisal techniques, ensures a stronger personal commitment from the employee. It ultimately helps the company to grow and streamline its operations in the desired manner. An appraisal is also considered to be a strategy to strengthen the bond between the company and the employee.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Identifying_the_potential_in_an_employee\"><\/span>Identifying the potential in an employee<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>An appraisal is also a remarkable tool that can correctly identify the potential of an employee. When the potential is tapped optimally, the company can practically benefit in terms of productivity. Such identification of employee potential is one of the objectives of the appraisal system.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Identifying_training_and_development_areas\"><\/span>Identifying training and development areas<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is extremely crucial to identify the particular training and development areas for the employees and implement the required strategies to improve the prospects of the company. This is one of the agendas of the appraisal policy. If the employee needs to develop certain skills to cover his lack of efficiency, then the company should arrange it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Locating_the_discrepancies\"><\/span>Locating the discrepancies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>One of the important aspects of the appraisal system is efficiently locating the discrepancies between the target employee efficiency and realized efficiency level. The HR and other departments work in tandem to close the gap.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Salary_increment_is_one_of_the_main_appraisal_strategies\"><\/span>Salary increment is one of the main appraisal strategies\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The HR personnel recommends the management to increase the salary of an employee if his performance complies with the demand of the company. The impact of salary increment is naturally positive on the performance level of the employee, as research data reveals. The employee feels a stronger connection to the company.<\/p>\n\n\n\n<p>There are various ways in which HR can increase the salary. It can be an increment in the basic pay, a boost in the incentives or increasing things such as house rent allowances. Overall, the concerned employee becomes happier.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Providing_health_insurance\"><\/span>Providing health insurance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>An excellent way to appreciate the employee via appraisal is by providing him health insurance. The company can implement a group health insurance policy for a team of employees. The insurance covers the costs of medical consultations, hospitalizations, medicines, etc, of any employee from the insured group.<\/p>\n\n\n\n<p>It creates more confidence in your employees and they become more willing to invest their effort and time to move your company forward. The security boots their level of job satisfaction. They admire the management. It helps the company to accelerate its growth, even in a highly competitive environment.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Providing_lifestyle_benefits\"><\/span>Providing lifestyle benefits\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The appraisal can also include providing a series of lifestyle benefits (such as health club discounts, food coupons, etc), based on the performance of the employees in a quarter or month. The employee feels more respected by the management and delivers what is required of him. He feels the accountability that the company expects from him.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Integrating_a_consistent_feedback_system\"><\/span>Integrating a consistent feedback system\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is the priority of the company and its HR department to efficiently implement a robust feedback system within the business framework to gauge and work on the performance of the employees, from a better technical perspective.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_happens_when_there_is_more_employee_satisfaction\"><\/span>What happens when there is more employee satisfaction?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If employee satisfaction is boosted, the company can remain confident about increasing its pace of growth. There will be a sustainable in-flow of revenues. The goodwill of the company in the industry is also going to increase. There is a far better coordination between the management of the company and the employees.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Evolving_the_appraisal_strategies\"><\/span>Evolving the appraisal strategies\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It should be one of the major priorities of the company to continuously evolve its appraisal strategies to keep on boosting the level of employee satisfaction. A good team of employees is a valuable asset for the company. It creates more value for its business and strengthens its prospects.<\/p>\n\n\n\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.<\/p>\n\n\n\n<p>*Ref: <a href=\"https:\/\/www.nap.edu\/read\/1751\/chapter\/10#136\">https:\/\/www.nap.edu\/read\/1751\/chapter\/10#136<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Human Resources (HR) form one of the most important departments of any company. A small business can thrive in a competitive environment if its HR department can appreciate the employees&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"cybocfi_hide_featured_image":"","footnotes":""},"categories":[323],"tags":[],"_links":{"self":[{"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/posts\/2599"}],"collection":[{"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/comments?post=2599"}],"version-history":[{"count":1,"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/posts\/2599\/revisions"}],"predecessor-version":[{"id":2600,"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/posts\/2599\/revisions\/2600"}],"wp:attachment":[{"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/media?parent=2599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/categories?post=2599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.plancover.com\/insurance\/wp-json\/wp\/v2\/tags?post=2599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}