Concept of Interest

CONCEPT OF INTEREST 4

Conceptof Interest

Conceptof Interest

Thebiggest achievement a business can make is generating customer’sinterests in the services or products it provide (Farndale andKelliher, 2013). While many businesses focus on the marketing andadvertising, few such as Metropolitan Bakery have realized the roleof performance appraisal and ongoing feedback processes inmaintaining and attracting customers. Although both provideopportunities for customer’s satisfaction and employee’smotivation while at the same time ensuring productivity, the ongoingor continuous feedback is less costly but more effective.

Asreview for each employee’s contributions to a business, performanceappraisal focuses on evaluation of his or her skills and achievementthat have facilitated the growth in a period of one year(Grigoroudis, Tsitsiridi and Zopounidis, 2013). Therefore, it isimportant when a business need to mount a strong culture of employeeengagement or motivation, strengthen their skills and maintain goodreputation.

However,with the need for continuous increased employee performance andbusiness productivity to develop competitive advantage in the market,ongoing feedback can provide most benefits. It not only facilitatesreal-time updates on employee’s performance but also openopportunities to identify their disconnection from their work.

Unlikeperformance appraisal, that involves a large volume of paperworkarchived for a year and complex procedures, continuous feedback isquick and less costly. In addition, it enables rewarding orcorrecting workers according what employers can see at that time(MGMT224 – Metro Bakery – Performance Appraisal,2016)and involves customers in contributing to the business when they givetheir feedback on particular services or employees.

Similarly,the Johari window works to increase the employee’s self-awarenessand understanding between the employee and employers, or customers(Vorce &amp Fragasso, 2016). In it functionality, it has fourprinciples based on what an employee and other people know or they donot, thereby enabling employees or members of a group help each otherimprove.

Inbrief, regular evaluation of employee’s capabilities and weaknessis necessary in every organization because they (employees) representthe business to the customers. Also, this evaluation forms the basisfor improvements or changes that can enhance both employee’sengagement and customer satisfaction. In line with this, a businesscan use performance appraisals, continuous feedback system or Joahriwindow principles. However, due to need for responsiveness inbusiness, continuous feedback is highly promising.

References

Farndale,E., &amp Kelliher, C. (2013). Implementing Performance Appraisal:Exploring the Employee Experience. HumanResource Management,52(6), 879-897. doi:10.1002/hrm.21575

Grigoroudis,E., Tsitsiridi, E., &amp Zopounidis, C. (2013). Linking customersatisfaction, employee appraisal, and business performance: anevaluation methodology in the banking sector. Annalsof Operations Research,205(1), 5-27. doi: 10.1007/s10479-012-1206-2

MGMT224 – Metro Bakery – Performance Appraisal.(2016). https://www.youtube.com/watch?v=AQP6ow-Aavs.

Vorce,J., &amp Fragasso, P. (2016). The 9-Step Springboard ToSelf-Knowledge. Womenin Business, 68(1), 6-8.