Anonymous Corporate Appraisal system similar to the crypto currency might boost productivity.
Companies let their employees to do self appraisal along with their expected CTC.
This self appraisal must be validated by peers anonymously and then their boss.
Along with this, the companies must ask 1 to 2 ideas that they have that will help the company grow during the time of appraisal. This is the time when employees will give new ideas to get better appraisal.
Better ideas that are installed based on this idea must be compensated by the company even after the employee leaves the company. This should be peer moderated so that the benefits reach the employee even if he/she leaves the company.
Once the Peers and the boss completes the anonymous appraisals, it should be sent back to the employee for review.
He must analyse the areas he lacks, the areas he is good at. Only then face to face review with the boss must happen.
Peer reviews help employees achieve.
Peer reviews enables employees to know the areas they are bad at.
Anonymous appraisals lets the peers to share the positive and negative feedback about the employee. Since the peers know whom they are appraising but anonymously , they will be more open.