A Study on Performance Appraisal of Employees at Hightemp Furnaces Ltd, Bengaluru.

Abstract

Performance appraisal is a major & an essential management technique. The main objective of the study is to measure the level of satisfaction of the employees on the Appraisal System in Hightemp Furnaces Limited, Peenya, Bangalore. The tool used to conduct survey among the executives and the workers is questionnaire. Performance Appraisal is an important tool of management to audit the human capital. In many firms, performance appraisal results & feedbacks are used as a tool to set rewards & placements for better performing employees. Employee satisfaction towards the performance appraisal system of the organization depends on factors such as, post review policies, communication & measurement policies etc. The level of satisfaction of employees depicts the total output of the organization. Performance appraisal also acts as an important tool to various HR functions. Hence, the important area of research is the relationship between performance appraisal & employee satisfaction. The tool for survey is questionnaire which is adopted for data collection. It states the level of agreement or disagreement of an employee is found out using a questionnaire. Based on the judgment method, a sample has been drawn out of a huge population. Then the questionnaires filled by the respondents are collected. Later, a descriptive analysis on the collected response is carried out. A fairly conducted process of performance appraisal helps in improving the satisfaction level among the employees which further leads to increased production, an enhanced financial & market position & the overall output of the company. Based on the survey conducted using an effective questionnaire, it can be concluded that the employees of Hightemp Furnaces Limited are satisfied with the process of performance appraisal.