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Performance Management
What is Performance Management System (PMS)?
is not a luxury but a survival tool.
Informal appraisal?
possible only in very small organisations where the employee's contribution is directly visible to the owner / supervisor. Subjective, undocumented.
Formal appraisal?
structured, periodic, documented; mandatory in banks, NBFCs, and any large enterprise. Uses defined rating scales, written records, and an appeal mechanism.
Judgmental — Purpose / Example in a Bank?
Purpose: Salary increases, transfers, promotions; Example in a Bank: AGM promotion list, annual increment grid
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