magna_team

Group Members: Harsha Vardhan R Swathi N Ranadheer C _________________________________________________________________________________


 * Performance Appraisal Methods and Procedures followed in various Public Sector Companies in EU**

__**Mass Appraisal system followed when various number of employees located in different locations are to be evaluated**__

The principles and procedures used for mass appraisal are similar to those used for an individual appraisal. In mass appraisal, you work with a large volume of market data to develop value indicators. When applying these value indicators to appraise property, the process takes on the nature of direct comparison and produces accurate value estimates at a relatively low cost. Additionally, mass appraisal provides a means to establish and maintain valuation uniformity. The three methods of mass valuation are: • Physical reappraisal, • Recalculation, and • Ratio adjustment. Physical reappraisal requires the use of benchmarks, market studies, and some level of inspection of the property to be appraised. Recalculation requires market studies, developing adjustment tables, electronically stored property characteristics, and computer application of the adjustment tables to the property characteristics. Ratio adjustment compares sale prices to RMV and applies an adjustment (if warranted) to bring the property to 100 percent of RMV.

Uniformity and Equity of Real Market Value One of the primary objectives of a mass appraisal program is to achieve uniform appraisals among properties of a similar type. This is accomplished by using proper valuation methods and procedures. However, since values can change rapidly within an area, it is often difficult to maintain equity and uniformity among all valuation areas or property classes. Annual sales ratio studies are a means to identify and measure the effects of market fluctuations

Reappraisal is the best method of correcting inequities, which can be

__Physical Reappraisal__ Reappraisal typically refers to a three-step process used to value large groups of properties. The general steps are: • Conducting preappraisal studies; • Inspecting the properties; and • Applying the preappraisal study results to the properties being appraised.

__Recalculation__ Recalculation is a method that is a hybrid of reappraisal and a ratio study. In recalculation, the results of the preappraisal studies are entered into tables in the computer. The studies are the same as those conducted for reappraisal. The tables are then applied to individual property characteristics already contained in the computer. This allows large numbers of properties to be valued with minimal staff involvement.

__Ratio Study__ The sales data used in a ratio study are collected from real estate transfer documents recorded in county clerks’ offices and, for manufactured structures, from copies of registration forms filed with the state. In some counties, residential sales data is obtained from multiple listing services. Necessary property identification, and statistical and ratio information are collected on all sales in the county. This information includes property location, name and address of buyer and seller, county identification number for the property, sales date, sales price, property class, condition codes, and current roll RMV.

__//**Managerial Appraisal Procedures in WASET ( World Academy of Science Engineering and Technology ) [Spain]**//__

__I. PURPOSE__: This policy provides performance appraisal guidelines for all ORGANISATION employees __II. POLICY__: ORGANISATION is committed to a performance management system for all COMPANIES’ employees that reflects agency values, enhances communication, objectively documents annual performance and accomplishments, and assists employees with professional development. Supervisors may access all performance appraisal forms and checklists through ORGANISATION Outlook folder “Performance Appraisals.” In addition, the ORGANISATION Guide to the Performance Appraisal Process assists supervisors in completing performance appraisals. __III. GENERAL STANDARDS:__ __A__. Performance Appraisal Process 1. ORGANISATION appraisal forms must be completed annually and during the trial service period. 2. All employees on trial service should be evaluated, at a minimum, midway through and at the end of their trial service period. 3. The annual performance appraisal period will be established for the year beginning and ending on the salary eligibility date, or an established anniversary date, if no salary eligibility date exists. 4. The performance appraisal process must be documented on the appropriate form: a) YA 8099 (Trial Service Evaluation Classified Represented Employees); b) YA 8100 (Trial Service Evaluation Management Service); c) YA 8101 (Performance Appraisal – Executive/Management Service); or d) YA 8102 (Performance Appraisal – Classified Represented Employees). The performance appraisal should include performance goals and objectives. An individual development plan should be identified and discussed with the employee prior to the start of each performance review period. This information must be documented on the performance appraisal form. 5. The immediate supervisor must complete the performance appraisal taking into account, as appropriate, observations, feedback/input from subordinates, peers, program customers, stakeholders, and the employee.