Performance Evaluation and its importance in PSU.

In modern competitive business world performance is the only output for everyone.
Performance appraisal of employees and executives and identifying their positive and negative attributes is very vital for the sustained growth of any industry/establishment/offices.Somehow , the very purpose of the performance appraisal has been lost in many Industrial Establishments , especially in Public Sector Undertakings where it has become a mere ritual - every employee gets awakened only after the 15th of March every year to write something that he knows in his performance appraisal - they have to submit the form duly filled in all aspects before the 31st of March.Earlier it was for the superiors to comment and evaluate the performance of their subordinate officers - later it has been made the responsibility of the individual officers themselves to identify their potentials and success they have met in meeting the targets set for them. Such a specialized appraisal form has become a ritual for the executives as there is no vital issues or questions to bring out or establish their potency in their areas.As a result, in many establishments, we can come across stereotyped answers for all the points .As a result , the appraiser is also not in a position to evaluate the executives on their real potential and they are also not allowed either to appreciate the hardworking executives or condemn the poor performers - the superiors have to establish with records for their appreciating or condemning the performance.As a result, there is no real assessment and the Performance Appraisal has become a statutory requirement.The Personnel Department also is not interested in making it serve the purpose for which it was introduced.