Appraisal vs Increment: January is about to end. With the arrival of February, discussions of appraisal and increment will start on the workplace. After the entire year of hard work, everyone needs it. But usually people consider Appraisal and Increment the same. Even big experienced people do not know the difference between them many times. But if you are employed, then you should know the difference between them. Know about it here.
What is Appraisal?
Appraisal is a process in which your work is assessed. Your work review may be based on quarter, half -yearly or annual performance. Meanwhile, it is seen whether you have completed your targets or not, how are your performance, skills and work athics. Based on all this, you get promotion, bonus or increment. Increment can also be a part of appraisal.
What happens under appraisal?
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- Feedback: Boss and managers give you feedback regarding your work.
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- Performance Review: The achievements of the whole year are assessed.
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- Promotion: You can get promotion on good performance.
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- Salary Increment: Salary may increase based on your performance.
What is an increase?
When we only talk about increment, it means salary hike. The increase in your salary is also due to many reasons. Increment is done on the basis of company policy, performance, government rules, etc. Most of the companies have increases annually. Apart from this, in case of promotion, dearness allowance in government jobs or government orders can also be done. If you want to increase your salary, then it is important that you do your work in the best way, increase skills and improve performance. This will increase the chances of getting good increment during your appraisal.
What causes the increase?
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- Based on good performance (performance-based increase)
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- According to the company’s growth (Company Growth-Based Increment)
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- Under government rules
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- Dearness allowance (DA) increases
Can there be an increase without appraisal?
If there is a performance based increment, then it is not possible without appraisal. But if the company decides that it increases the salary of all employees, then there is an increase without appraisal. Apart from this, even if the government changes dearness allowance (DA) or increases the minimum salary for a post, then there is an increase without appraisal.