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B Employee's feedback and reward system
What is the primary purpose of an employee feedback system in banking organizations?
The primary purpose is to provide employees with information about their performance relative to expectations, enabling improvement, development, and alignment with organizational goals.
What is the difference between absolute and relative performance standards in employee appraisal?
Absolute standards measure against fixed criteria; relative ranks employees against peers.
What is a 360-degree feedback system?
A 360-degree feedback system collects performance input from multiple sources including supervisors, peers, subordinates, and sometimes customers, providing a holistic view of an employee's competencies and behavior.
What is the strictness error in performance appraisal systems?
Consistently rating employees lower than their actual performance deserves.
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