As the chosen project leader for the development of a new performance appraisal system at Matrix International Corporation (MIC), you realize that you have a lot of work ahead of you. The Director of Human Resources, Annalise Zajac, has emphasized that the success of this project is critical to the future performance of Matrix. You begin to research the topic of performance appraisal systems in more depth.
Your research has provided you with a good foundation of knowledge regarding formal and informal performance appraisal systems. Complete the following:
- Discuss the differences between formal and informal performance appraisal systems.
- What are the pros and cons associated with each of these types of systems?
- Discuss whether there are any benefits to combining components of a formal and informal system.
- What might this look like?