Appraisals and performance reviews are tied together because appraisals are based on your performance… and a few other factors. But if you’ve done well, you have nothing to worry about!
Here’s how it goes. As a part of your job, you’ll be given a set of goals. And your appraisal will primarily depend on how well you could meet these goals along with:
- your potential for future responsibilities,
- progress made on the goals set during last appraisal,
- your personal contribution to the success/growth of the company,
- ownership and initiative
- the performance of the company, and
- work habits, adherence to the general code of conduct, collaboration attitude with colleagues, leadership qualities… and so on.
The feedback from your teammates and manager will also be considered.
The appraisal cycle is held mid-calendar year and is applicable to those who have been confirmed and have completed at least 6 months in the company after confirmation (though this is completely as per the discretion of the company).
A bonus (if applicable) will be given at the time of appraisal on a pro-rata basis.
For freshers:
Final bonus =((bonus amount)/12) x (number of months in company after confirmation)
For candidates with experience:
Final bonus = ((bonus amount)/12) x (number of months in company after date of joining)
Now, before you get all excited, here are a few things you should note:
- If you’re on probation, appraisals do not apply to you
- The appraisal amount is decided keeping in mind your commitment to the company. Hence, if you submit your resignation within 6 months of receiving the appraisal, the company has the right to rollback the awarded increment and recover the increment amount transferred.