Performance appraisal and performance management the contemporary organizations are undergoing a transformation for coping against the changing needs of the environment and excelling in the business by building up their adaptive capabilities for managing change proactively. Performance appraisal implies a rational assessment of the performance of an individual based on pre determined standards on the other hand performance management alludes to the management of performance of the manpower working in an organization while performance appraisal is a yearly system while if we talk about performance management it is a continuous process that does not occur . Compensation performance appraisal helps in chalking out compensation packages for employees merit rating is possible through performance appraisal performance appraisal tries to give worth to a performance compensation packages which includes bonus high salary rates extra benefits allowances and pre requisites are dependent on . Usually performance management and performance appraisal are used interchangeablythey may have some similarities but they are definitely not the same for one performance management is a comprehensive approach that involves the maximum amount of dialogue among all the stakeholders. Performance appraisal pa refers to the methods and processes used by organizations to assess the level of performance of their employees and to provide them with a feedback this process can be
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