Which performance appraisal method is known for being relatively inexpensive to develop and provides quantitative data for employee comparisons?

The graphic rating scale is known for being a cost-effective method of performance appraisal that generates quantitative data, making it easier to compare employees. This approach typically involves a straightforward format where various performance dimensions are listed alongside a scale, often ranging from high to low ratings.

This simplicity allows organizations to quickly assess and quantify employee performance across multiple areas like attendance, quality of work, and teamwork, facilitating straightforward comparisons among employees. The cost efficiency comes from the minimal training required for evaluators and the ease of collecting and processing the ratings.

In contrast, other methods may involve greater complexity or expense; for instance, behaviorally anchored rating scales often require more extensive development to create the specific behaviors that correspond with various performance levels. Peer reviews and 360-degree feedback also involve collaboration from multiple sources which can be time-consuming and costly to implement and analyze.