Another benefit is that employees often gain experience in a variety of areas, giving them multiple skills and areas of expertise to enhance their resume. Small firms may also have more flexibility when it comes to considering alternative work arrangements such as flextime and job sharing. Working for a small company can also be a good stepping-stone to a larger employer in the same field. Performance evaluation is very important in the organization as it indicates how far the organization has achieved its target and how it should mentor the employee to challenge more tasks.HSBC bank is always keen on performance evaluation of the staff to deliver a better service to its clients. Performance evaluation will help in finding the employee needs and company can collect views from the employees and can act on to meet the necessary needs. It gives a feedback on employee’s performance. Evaluation will decrease the communication gap between the high level administration and staffs.organisation can allocate a reward programmed for the employees to enhance their performance. Performance evaluation widens the opportunity for the employee to develop and be more beneficiary to the company. Performance evaluation is a strategic canalization about the employees to improve their potential and making them beneficial for the company.The company will check the employee’s feedback from its colleague and that process is referred as 360 degree feedback. The organization will collect the feedback from co workers, managers and all those who are associated with the employee in work. These feedbacks will be considered while evaluating the performance of the employee. HSBC bank evaluates the performance of the staff at consistent intervals to improve the performance of them. They also consider all these aspects while evaluating the employee.