What are the different performance appraisal methods?

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For the most effective, explain how it is effective in doing the following:

• providing fair and reliable ways of differentiating employees;
• targeting and rewarding those who most deserve it;
• setting forth a fair and cost-effective plan for compensation; and
• motivating and ensuring performance of employees.

For the least effective, explain how it interferes in the above four items.

2)

Compare and contrast the following methods of job evaluation: ranking, classification, factor comparison, and point method. Which of these do you feel is most useful and why?