What is the performance appraisal of employees in a company or business you are familiar with? (500 words)

- Explain the function as well as the purpose of performance appraisal (evaluate employee performance and productivity, identify training requirements, make promotion and compensation decisions).
- Name the company that is written about and give a short explanation on the company.
- Provide information on the aspects of performance assessment you use (metrics, rating scales etc.).
- Address the frequency of the appraisals as well as who provides these assessments.
- Cite instances of those kind performance ratios that managers may use to evaluate their employees.
- Elaborate on appraisal information utilization in the organization (describe how the appraisal data is used in setting bonuses/raises, training needs, among others).
- Review if the performance appraisal program is working and is bringing the expected results.