The Major Problem with Employee Appraisals for Human Resource Departments

question 90

True/False

The major problem with employee appraisals for human resource departments is that they tend to make compensation decisions and employee career planning more difficult and less efficient.

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Definitions:

Continuous Budgeting

A method of budgeting that continuously updates the financial budgets by adding a new period (month, quarter, etc.) as the current period is completed, allowing for near continuous financial planning.

Master Budget

A comprehensive financial plan for an organization's upcoming year, summarizing all of its plans and financial activities.

Budget

A financial plan that estimates income and expenditures for a future period, often used as a guide for financial decision-making and resource allocation.

Budgetary Control Process

A method for managers to set financial and operational goals with budgets, monitor performance, and take corrective actions to stay on track with objectives.