A Study on Performance Appraisal at Future Lifestyle Fashion Ltd. (FLF) Mumbai

In this competitive world, business is playing a major role and performance appraisal (PA) has increasingly become part of strategic approach to integrating HR activities and business policies. Today we can see this standard term covering a variety of activities through which organizations seek to assess employees and develop their competence, improve performance and achieve rewards. The success of an organization depends on the performance of the employees and it is the human tendency. Appraising performance is both a difficult and an essential supervisory skill. Every organization judges formally or informally. If there are no fixed standards of judging they will start judging based on informal standards that can create lack of enthusiasm and impact the performance of the employee and in turn, the organization. Hence, it is essential that we set the right standards to judge the performance of the employees. At a strategic level, the need for speedy and effective organizational change in today's vibrant social, economic, and political environment requires that employees continually re align their performance with goals and objectives of the organization