The Improvement Of Performance Appraisal For Subsidiaries In Hunan New Wellful Co., Ltd

In recent years, performance management tools have been focused by more andmore enterprises. It is an important point and driving force for companies to achievebusiness objectives. However, performance management is so complex. In the processof using performance management tools in different companies, due to differentbusiness conditions, the practice effects are also different, which make someonehappy or worry. For many large enterprises, the control mode between group andsubsidiaries is in the process of trial and error. Many companies design reasonableperformance management system to regulate the relationship between group andsubsidiaries and achieve unity. New Wellful is no exception.Based on the literature study, this paper analyzes that in New Wellful, appraisalcontent is complicated, and targets are not consistent with the business strategy andprocess-oriented instead of result-oriented. Moreover, insufficient appraisalincentives and limited constraints cannot give enough motivation and proper pressure.The application is not stringent, resulting in the tendency of egalitarianism formation.Based on its own operating characteristics, this study re-optimizes appraisal systemfrom improving subsidiaries’ performance appraisal program and redesigningperformance management system. In accordance with the requirements of industrialchain collaboration, appraisal bundles relevant business units and subsidiaries. Toapply the development strategy, New Wellful should make performance appraisalsystem as a support and operation system as a complement to maintain linkage andsynergy between subsidiaries, ensuring the implementation of the appraisal program.The paper explores innovative strategy performance appraisal model ofsubsidiaries in New Wellful, providing the theoretical basis and operation program topromote performance appraisal practice, and the reference for other companies in thesame industry.