A Study of Performance Appraisal and its Impact on Job Satisfaction in Pharmaceutical Companies of Punjab

Abstract

Performance appraisal is a tool that is used by the company to do an assessment of their newlineemployees against the standards of performance that are being set up by the company. The system helps in improving the level of performance of employees, increases their productivity as well as the quality of performance, and also motivates them to have a positive attitude towards their job. newlineThe system of performance appraisal must be designed in such a way that it becomes an newlineeffective way of motivating and helps in the development of employees and ultimately newlinebecomes an essential part of the corporate planning process.The pharmaceutical industry newlinemakes a huge contribution to the economic development of India. In the recent past many studies have been conducted on the topic of performance appraisal practices. However, this study is different from those studies as it focuses on a particular geographical area namely Punjab and a particular industry which is pharmaceutical. The present study revolves around the performance appraisal practices adopted in pharmaceuticalcompanies of Punjab. The scope of this studyincludes the study of employers perception towards performance appraisal practices, job satisfaction outcomes in pharmaceuticalcompanies and relationship between performance appraisal and job satisfaction. In addition to the above, the study would also include the impact of the performance appraisal on job satisfaction of employees in pharmaceuticalcompanies of Punjab. newlineThis study follows all the steps of a scientific research by using the quantitative methods of data analysis. The validity and reliability of the survey instrument was also established in the study by using appropriate methods. Exploratory followed by Descriptive Research which includes surveys and questionnaire in the study. The researcher has done thorough study on quantitative and qualitative secondary data collected from different sources and these data newlinehave been useful for this research. newline