Sure, I'd be happy to explain the process for calculating appraisals in Bengaluru, India. Here's a step-by-step guide:
🎯 Step 1: Identify the Appraisal Period:
Typically, the appraisal period is annual, but it can also be semi-annual or quarterly. This period is set by the company and usually aligns with the financial year.
📋 Step 2: Set Goals and Objectives:
At the beginning of the appraisal period, set clear and measurable goals for the employee. These should align with both the individual’s role and the company's overall strategy.
📊 Step 3: Track Performance:
Throughout the appraisal period, track the employee's performance against the set goals. This can be done through regular check-ins, progress reports, and feedback from colleagues and superiors.
✍️ Step 4: Self-Assessment:
At the end of the appraisal period, ask the employee to carry out a self-assessment. This can help to highlight any discrepancies between the employee's and the manager's views of performance.
💬 Step 5: Manager Assessment:
The manager should also evaluate the employee's performance. They should consider the employee's achievements, challenges, behavior, and adherence to company values.
🔢 Step 6: Calculate the Appraisal Score:
Use a predefined scoring system to calculate the appraisal score. This can be based on goal achievement, behavior, and other relevant factors.
📈 Step 7: Determine the Appraisal Percentage:
The appraisal percentage is usually tied to the appraisal score. This percentage is often used to calculate the raise in salary or bonus. The exact percentages are usually defined by the company's policies.
💰 Step 8: Implement the Appraisal:
Once the appraisal percentage has been determined, implement it in the form of a salary increase, bonus, or other form of benefit. Ensure this is done in accordance with company policy and local labor laws.
Remember, each company may have its own unique appraisal system. But these steps provide a general framework that most companies in India follow. It's also important to ensure transparency and fairness throughout the process to maintain employee trust and satisfaction. 😊
Please note that any changes in salary or bonuses may have tax implications, so it’s important to consider this during the appraisal process. In India, bonuses are taxed as per the income tax slab rates applicable to the employee. Always adhere to the tax regulations outlined by the Income Tax Department of India. 🏛️