SYNOPSIS REPORT ON PERFORMANCE APPRAISAL AT HOSPET ISPAT PVT LTD.

COMPANY PROFILE

HOSPET ISPAT PVT LTD (HIPL) is started from 21/12/2004 with investment of Rs.31/crores. The founders of this company are Mr. Vinay Biyani and Mr. Suresh Kumar Lakhotia. It had certified under 149 (3) of company Act 1656 firstly it is established by public but now it transferred to private limited company. Its License No. My/KPL-26 GEOGRAPHICAL LOCATION :The geographical location of the company is good for normal business activities. Specially it is 2 km away from NH-63 and 12 Km from Koppal and 20 Km from Hospet.

AIM OF THE COMPANY

The main AIM of the company to be purposed by the company on its corporation are 1) To Carry on the business as manufactures resellers, importers, exporters of heat treatment paints and machining job of all types 2) To generate, accumulate, transmit, distribute, purchase, sell and supply electricity power r any other energy from conventional / non-conventional energy sources on a commercial basis and to construct, lay down, establish, operate and maintain power / energy generating stations power plants and plant based on conventional or non-conventional energy sources, solar energy plants and similar projects. 3) To repair, process, assemble, procure, buy, sell, alter, improve, exchange, let out on hire import, take on lease factories, works, plants. Machineries, jigs, dies, moulds, material handling system / equipments fixtures, fitting, tools appliances, products and all kinds of vehicles, capable of being used in the business which teh company is competent to carry on or required by the customer or persons having dealings with the company. 4) To buy, take on lease or license or otherwise to acquire lands and to acquire in any manner or to construct, crect, re-erect, alter, build, renovate, decorate, maintain, roads streets, brick works, factories, sheds, buildings, flats houses, shops, showrooms, offices, warehouses, mid-floor, landings tents and other temporary or permanent structures for the purpose of the business of the company and to demolish, re-erect and / or to alter or otherwise deal with land and buildings in possession or belonging to the company or in respect of which the company has power in any manner to deal with. 5) To purchase acquire or under take or take the whole or any part of the business, professions, goodwill, property, contents, agreements, rights, privileges, effects and liabilities of any person, firm or company carrying on or proposing to carry

on or ceasing to carry on any business, profession or activity which the company is authorized to carry on upon such terms and subject to such stipulation and conditions and at or for such terms and at or for such price of consideration (if any) in money, shares, debentures, moneys worth or otherwise as may be deemed fit. 6) To pay out of the funds of the company and the issue of its share capital, debentures stock, bonds debentures, debentures stock, bonds, other securities and acceptance or renewal of deposits including brokerage and commissions for taking, placing, debentures, debentures stock, bonds, deposits or other securities of the company.

HIPL VISION
To be a World class product leader through the state of the art manufacturing technologies and processes

HIPL MISSION :
HR DEPT Will facilitate achievement of the highest level of organization productivity by achieving cost effectiveness in administration activity and by sourcing the best human talent available. And add value to them through practice prompt and continuous programs by realization of employee potential to achieve excellence. In company business, result through these programs will end ever to ensure in fulfilling a quality of life to the employees.

RAW MATERIAL:
To produce sponze Iron they require raw-materials as follows :1. Iron ore (Fe2O3) (4 to 18mm) 2. Coal (4 to 18 mm) 3. Dolomite / lime stone (0.2%)

PRODUCTION PROCESS :
To make ready sponze Iron they are heating Iron Ore by Coal and diesel and after completion of first process they want to remove sulfur constraints.

RAW-MATERIALS PURCHASED FROM:

1. Iron Ore-from R.P.P mines Hospet. 2. Coal-from South Africa, Indonesia, South Korea and Singrahi. 3. Lime Stone from Locapure which comes under Baglkot district.

MACHINERY.
1. 2. 3. 4. Kiln Cooler Screens Crushers

INTRODUCTION TO THE TOPIC: Performance Appraisal

Performance Appraisal is the systematic evaluation of the performance of employees and to understand the abilities of a person for further growth and development. Performance appraisal is generally done in systematic ways which are as follows: 1. The supervisors measure the pay of employees and compare it with targets and plans. 2. The supervisor analyses the factors behind work performances of employees. 3. The employers are in position to guide the employees for a better performance. People differ in their abilities and their aptitudes. There is always some difference between the quality and quantity of the same work on the same job being done by two different people. Performance appraisals of Employees are necessary to understand each employees abilities, competencies and relative merit and worth for the organization.Performance appraisal rates the employees in terms of their performance

Objectives of Performance Appraisal

Performance Appraisal can be done with following objectives in mind: 1. To maintain records in order to determine compensation packages, wage structure, salaries raises, etc. 2. To identify the strengths and weaknesses of employees to place right men on right job. 3. To maintain and assess the potential present in a person for further growth and development.

4. To provide a feedback to employees regarding their performance and related status. 5. To provide a feedback to employees regarding their performance and related status. 6. It serves as a basis for influencing working habits of the employees. 7. To review and retain the promotional and other training programmes.

Advantages of Performance Appraisal

It is said that performance appraisal is an investment for the company which can be justified by following advantages: 1. Promotion: Performance Appraisal helps the supervisors to chalk out the promotion programmes for efficient employees. In this regards, inefficient workers can be dismissed or demoted in case. 2. Compensation: Performance Appraisal helps in chalking out compensation packages for employees. Merit rating is possible through performance appraisal. Performance Appraisal tries to give worth to a performance. Compensation packages which includes bonus, high salary rates, extra benefits, allowances and pre-requisites are dependent on performance appraisal. The criteria should be merit rather than seniority. 3. Employees Development: The systematic procedure of performance appraisal helps the supervisors to frame training policies and programmes. It helps to analyse strengths and weaknesses of employees so that new jobs can be designed for efficient employees. It also helps in framing future development programmes. 4. Selection Validation: Performance Appraisal helps the supervisors to understand the validity and importance of the selection procedure. The supervisors come to know the validity and thereby the strengths and weaknesses of selection procedure. Future changes in selection methods can be made in this regard. 5. Communication: For an organization, effective communication between employees and employers is very important. Through performance appraisal, communication can be sought for in the following ways: a. Through performance appraisal, the employers can understand and accept skills of subordinates. b. The subordinates can also understand and create a trust and confidence in superiors.

c. It also helps in maintaining cordial and congenial labour management relationship. d. It develops the spirit of work and boosts the morale of employees. All the above factors ensure effective communication. 6. Motivation: Performance appraisal serves as a motivation tool. Through evaluating performance of employees, a persons efficiency can be determined if the targets are achieved. This very well motivates a person for better job and helps him to improve his performance in the future. A common approach to assessing performance is to use a numerical or scalar rating system whereby managers are asked to score an individual against a number of objectives/attributes. In some companies, employees receive assessments from their manager, peers, subordinates and customers while also performing a self assessment. This is known as 3600 appraisal. The most popular methods that are being used as performance appraisal process are : Management by objectives. 360 degree appraisal Behavioral Observation Scale Behaviorally Anchored Rating Scale.

Typically, performance Appraisal is aimed at : To review the performance of the employees over a given period of time. To judge the gap between the actual and the desired performance. To help the management in exercising organizational control. To diagnose the training and development needs of the future. Provide information to assist in the HR decisions like promotions, transfers etc.

 Provide clarity of the expectations and responsibilities of the functions to be performed by the employed. To judge the effectiveness of the other human resource functions of the organizations such as recruitment, selection, training and development. To reduce the grievances of the employees. Helps to strengthen the relationship and communication between superior subordinates and management employees.

PROBLEM OF THE STATEMENT It is difficult for the Human Resource Manager to employ the suitable people out of the pool. Intact, many organizations face critical problems in choosing the people. Selection techniques and methods reduce the complexities in choosing the right candidates for the job.

:: OBJECTIVES OF THE STUDY ::

1. To study the various methods of performance appraisal applied in H.I.P.L. 2. To study the needs of Performance appraisal system in H.I.P.L.

3. To know the opinion of employees satisfied by the performance appraisal system.

4. To study the effect on employees of performance appraisal in H.I.P.L.

5. To know about the satisfaction level of the employees and also to examine the employees attitude towards the appraisal system and management of the company.

:: RESEARCH METHODOLOGY ::
Methodology is systematic analysis at tools and techniques used for scientific investigation. Research is an art of scientific investigation. According to Redman and Mary defines research as a "systematic effort to gain knowledge".

RESEARCH DESIGN A research design is a plan that specifies the objectives of the study, method to be adopted in the data collection, tools in data analysis and hypothesis to be framed. . '"A research design is an arrangement of condition for collection and analysis of data in a manner that aims to combine relevance to research purpose with economy in procedure".

Data sources:
Primary sources:- Primary sources of data collection or primary data are those datas which are collected directly from the respondents. They are collected for the first time from the sources concerned and are popularly said as the first-hand data collection. They are collected directly from the sources through observation, questionnaires, and schedules or through personal interview. And these are the tools which are used particularly in surveys and descriptive type of research. For Eg: Experiments, Survey Secondary sources:- Data collected from a source that has already been published in any form is called as secondary data. The review of literature in nay research is based on secondary data. Mostly from books, journals and periodicals. Sources of Secondary Data: Secondary data is often readily available. After the expense of electronic media and internet the availability of secondary data has become much easier Published Printed Sources Published Electronic Sources Unpublished Personal Records Governement Records Public Sector Records:

In this project For getting the primary data, the help of questionnaires will be essential objective . Closed questionnaires type questionnaires will be made for workers. Each question will contain a set of question relating to performance appraisal system in H.I.P.L. The respondents will be approached individually after noting down personnel information; their views on the organizational variables will be recorded. The executive will be given questionnaire which they filled up by their own later these forms will be collected. The information regarding the background of the concerned organization will be collected from the official files. Size of the sample It refers to the number of items to be selected from the universe to constitute as a sample. In this study 200 employees of HOSPET ISPAT PVT LTD , will be selected as size of sample. Sampling unit: HOSPET ISPAT PVT LTD, Pune. Sample design All the information from primary sources will be collected voluntary participation. In collecting primary sources of data sampling method and Random sampling methods will be used.Each and every item of population has equal chance to be included in the sample.

Population design The population of this study will be the total employee in the company. It is finite population.

:: SCOPE OF THE STUDY :: The scope of the study is that it will help to know that what constitutes performance appraisal and also the role played by it in rating the employees and on the effect of it on the employees. It also helps us in knowing about who the raters are and what role do they play in Performance Appraisal. On other said the study will reveal that the employees are satisfied by it or they want some other ways of promoting them.

QUESTIONNAIRE A STUDY ON PERFORMANCE APPRAISAL SYSTEM IN H.I.P.L Dear Sir/Madam, I am a student of Pursuing my as part of my course. I am required to do a project work on A STUDY ON PERFORMANCE APPRAISAL SYSTEM IN H.I.P.L. The above mentioned topic. I will be grateful if you kindly answer with your valuable response. Your valuable time is assured of confidentiality. EMPLOYEE PERSONAL INFORMATION 1. Name of the Employee 2. Age 3. Qualification 4. Designation 5. Department : : : :

6. How long have you been working in H.I.P.L. ? 0-6 Months 6-12Months 1 Year to3 year Above 3year

7. Whether You are aware at performace appraisal system? Yes No

8. Performance appraisal undergone at H.I.P.L ? Yearly once Yearly twice yearly thrice More than thrice

9. Is their proper use of the information received through performance management system? Yes No

10. Whether you are satisfied about organization fed back system? Satisfied Normal Dis-satisfied

11. Is their proper provision of performance feed back? Yes No

12. Do you think that the PMS is in accordance with the selection policy? Agree Disagree Dont know

13. Do you mention record of event you have accomplished? Always Most of time certain time

14. Do you feel that performance appraisal is necessary to the organization? Yes No

15. Do you feel performance appraisal encourages to achieve the organization goals? Yes No

BIBLIOGRAPHY

BOOKS:
P.SUBBARAO : PERSONNEL & HUMAN RESOURCE MANAGEMENT. C.B.MEMORIA S.V. GANKAR : PERSONNEL & HUMAN RESOURCE MANAGEMENT

References
Thomas F.Patterson Refining Performance Appraisal (HTML) Joyce Margulies . Performance Appraisals (PDF) Archer North & Associatiates, Introduction to Performance Appraisal,

http;//www.performance-appraisal.com/intro.htm U.S. Department of the Interior, Performance Appraisal handbook.