Why Is Performance Appraisal Important

question 8

Multiple Choice

Why is performance appraisal important?

• A) because it is key to the validation of selection procedures, which are the foundation of all HR practices
• B) because all organizations need to weed out lower-performing individuals at a rate of about 10 percent of employees per annum
• C) because employees need to know that they are being evaluated in order to perform at an appropriate level
• D) because the success of the entire HR program depends on knowing how the performance of employees compares with the goals established for them

Evaluate the efficiency of resource allocation in majority voting and the paradox of voting.

Describe the median-voter model and its implications for political outcomes and public service provision.

Grasp the concept and implications of logrolling in political decision-making.

Distinguish between different voting outcomes and their implications for public goods provision and project approval.

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Definitions:

Unionized Firms

Companies or organizations where the workforce is represented by a union, which negotiates wages, working conditions, and other employment terms.

Productivity

A measure of the efficiency of production often quantified as the ratio of outputs produced to inputs used over a specified period.

Firm Profits

The net income a company retains after deducting all costs, taxes, and expenses from its total revenue.

Fringe Benefits

Non-wage compensation provided to employees in addition to their salaries, such as health insurance, retirement plans, or paid time off.