International Journal of Multidisciplinary Research and Development

Authors
Shweta Pandey, Dr. MS Khan

Abstract
Companies, large and small, have been looking for a replacement for the annual performance appraisal. In a search of HR and OD blogs and internet posts one is likely to find hundreds of postings about them – 99% of them negative, but few with ideas on what to do instead. The only arguments in their favor seem to be that they are all we have going and the only performance feedback some employees get. There are compelling reasons why now is the time for the next generation of performance appraisals. The Generation Y or generation next is very different from the older generation or generation X. The paper highlights that creating a system that appeals to each generation in the multi-generational workforce and their motivations and to suggest the measures for evaluating performances of generation Y. This paper will help in knowing the new generation working style and their performance to make them competitive in the market.