Dear Colleague,
Performance Management System including Appraisal Cycle has to in line with the Financial Year followed by the Organization, which is a more suitable cycle than any other periods or cycles. For example if you follow April to March as Appraisal Cycle it is easier to:
- Link KRA/KPI to the Performance / goals of the Individual employees
- Objectively measure the contributions and performance of employees and link with the Business Results
- Give focus on Business Goals by individual employees to link with each FY KRAs/ KPIs.
- Whatever may the DOJ, you may fit them to the FY. However you may give the benefit from their date of joining post Appraisal. For example if some one Joined in Jan 2021, and your FY is April 2021- March 2022, then post appraisal you may extend the benefit / increments / hike from Jan 2021 to that employee and so on.
Hence, it is suggested to kindly follow a Cycle which operates in line with your FY / Accounting Year to have better grip on Individual Performance towards Organization's' Financial Results.