Performance appraisal policies Essay Example | Topics and Well Written Essays - 750 words

Performance appraisal policies - Essay Example Walmart, Google and Apple are very reputed companies in the global market and hold a significant place in the list of Fortune 500 companies. Discussing about the performance appraisal of these companies this can be said that Walmart is using performance appraisal system for the purpose of evaluation. The management of this company has set four standards which are below standard, above standard, standard and outstanding performance. According to these levels they are evaluating the productiveness of their employee’s performance in the organizational activities. New joiners are received two times evaluation at the first fiscal year and other employees receive the same one time in a year. Management has decided that all employees should spend at least 6 months at their current position before getting any kind of promotion. The employees who are giving outstanding performance in the organization can receive monetary reward at any time in a financial year. Compensation and benefit are structured according to the performance evaluation of every employees and it can differ from person to person (Armstrong, 2006). Again in case of Apple Inc. this can be said that this company does not provide any kind of guarantee for lifelong employment opportunities without standard performance. So management of this company always focuses on this fact that employees should take responsibilities to achieve target growth to survive in this company. The company has set organization centric goals and target to recruit only qualified and skilled persons in the respective fields. The management of the company is doing performance appraisal of its employees on annual basis and high performers are getting exclusive rewards for their performances. The company is paying a variety of incentives to its employees such as long term care insurance, employee