Abstract:
The rapid change in technology and innovation in the global market has increased the competition throughout the world. As with increase in competition and globalization, organizations are working hard to remain ahead of their competitors and improve their performances. Initially, organizations considered technology and machine as their important and valuable assets, But With the passage of time, almost all organizations have realized that they were wrong, as because the most valuable asset for any organization is their human resource. As Organizations understand the importance of human resource, they started using their human recourse to gain competitive advantage over competitors. It is human resource that not only brings new ideas, innovations but are also behind running and operating those technologies. Almost all the Organizations have started investment in their employees in the form of training and coaching etc, which helps the employees to improve and enhance their knowledge and skills in order to perform their jobs in a better way. Training also helps employees in their personal and career development. Performance evaluation helps the employees in providing rewards and feedback about their performance and also identifies the areas that required improvements. Performance evaluation provides valuable information for many administrative decisions e.g. training , promotion succession , firing etc. Performance evaluation also help in making employees accountable for the tasks and goals assigned to them.
