B Employee's feedback and reward system
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One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
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.
What distinguishes formative feedback from summative feedback in HR management?
Formative feedback is ongoing and developmental, aimed at improving performance during a task or period, while summative feedback evaluates overall performance at the end of a defined period such as an appraisal cycle.
What is the central tendency error in employee performance ratings?
Raters avoid extremes and cluster all ratings near the midpoint of scale.
What is the role of Key Result Areas (KRAs) in employee performance feedback?
KRAs define the specific outcomes and responsibilities an employee is accountable for, serving as the basis against which performance is measured and feedback is structured during appraisal.
What is the recency bias in performance appraisal and how does it affect outcomes?
Overweighting recent events and ignoring performance from earlier in the review period.
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