Appraisal System For A Middleware IT Company

Hi All,
Want to know your views on the appraisal system in the IT industry.
We currently follow a 6 monthly appraisal system. Want to know is the same followed in rest of the middleware IT organizations.
What should be the correct method to evaluate an IT professional. I mean what type of appraisal system should be used ?

Hi Kanupriya,The appraisal system should be Self appraisal+manager's Ratings........Period of appraisal can depend solely on the internal policy of the organisation.....it cannot be termed as Right /Wrong.

hi
Thanks for your reply. Actually I wanted to know what is followed in rest of the middleware IT companies. We currently have a six monthly appraisal system, now due to the $ depriciation there is fall in the IT compensation. We are planing to now have an yearly appraisal policy. Hence just wanted to know is it the right time to have an yearly policy implemented or should we wait for some more time.