Professional Documents
Culture Documents
SYPONSIS
Human Resource is an very important part of any organization. They are the resource that majorly contribute to ar!s attainment of organizational goals an! these goals can be achieve! only hen people put in their best efforts. Performance Appraisal is one of the metho!s hich ascertain hether an employee has sho n his or her best performance on a given job.
Performance Appraisal is one of the most important tools use! by the Human Resource "evelopment in analyzing an! evaluating its employees. #t also gives the employees a chance to loo$ bac$ on hat they have been !oing.Performance appraisal is the process of obtaining% analyzing an! recor!ing information about the relative orth of an employee. The focus of the performance appraisal is measuring an! improving the actual performance of the employee an! also the future potential of the employee. #ts aim is to measure hat an employee !oes. This project is base! on Performance Appraisal.#t goes in !epth into hat Performance Appraisal is% hat it stan!s for an! hy it is !one. #t tries to e&plain the basic purpose an! nee! of Performance Appraisal in the organization. #t contains !ifferent types of approaches that can be use! in !ifferent set of con!itions. The project also tries to thro light on ho theory can be put to practice.
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'etho!ology #ntro!uction to *ompany #ntro!uction to Performance Appraisal Performance Aprraisal at .nion /an$ 0f #n!ia Highlights of Annually Performance Appraisal 1orm 1in!ings an! Analysis Recommen!ations *onclusion
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ANNEXURE: /ibliography.
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METHODOLOGY
To stu!y the topic it is important to un!erstan! first ho the Performance Appraisal or$s in an organisation. Thus to stu!y an! analyse various aspects of Performance Appraisal #ntervie 'etho! as follo e!. 1urther%the 5uestions here forme! to collect all the !ata an! the information regar!ing the process an! impact of Performance Appraisal in an organization. The participants from the organisation here from !ifferent !epartments for the best results. After ta$ing their ans ers6 fee!bac$ by as$ing 5uestions e can come to the conclusion hen e analyse the fin!ings. 1or carrying out all this stu!y a visit to .nion ban$ of #n!ia as of great help in my project. .nion /an$ of #n!ia is one of the organizations that are using 7elf Performance Appraisal system in their organizations. Here # met 'r. 8en$atesh Amin the 7enior 'anager of .nion /an$ of #n!ia% ho tol! me about the process an! impact of Performance Appraisal they are using in .nion /an$ of #n!ia. 8ery frien!ly an! helpful in nature% 'r. 8en$atesh Amin helpe! me a lot to un!erstan! ho performance appraisal system is meant to or$% hat are the practical !ifficulties in the implementation an! ho they have manage! to overcome these !ifficulties successfully.
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INTRODUCTION TO COMPANY
Once a Year Overview .nion /an$ of #n!ia as inaugurate! by the 1ather of the 9ation% 'ahatama :an!hi% on 9ovember 11% 1313. 7tarte! as a limite! company ith its registere! office at 2% 'arzban Roa!% 'umbai% it as one of the fe 1inancial *ommercial ban$s in #n!ia. .ntil 13-2% ./# ha! only - branches ; , in 'umbai an! 1 in 7aurashtra% all concentrate! in $ey tra!e centres. *atering to all the sectors of the society% be it agriculture% in!ustry% tra!e an! commerce% services or infrastructure% the ban$ has also playe! a major role in ren!ering services to the financial nee!s of every section. Apart from this% the ban$ also e&ten!e! financial support to e!ucational% housing an! tra!e sector. .nion /an$ of #n!ia un!ertoo$ the tas$ of establishment of village $no le!ge centers an! self;employment training centers. #t as in 132(% that the .nion /an$ of #n!ia as nationalize!. #t as% then% that it merge! ith the /elgaum /an$% a private sector ban$. Another merger as on car!s in 138(% this time ith the 'iraj 7tate /an$. .nion /an$ is a Public 7ector .nit ith ((.-,< 7hare *apital hel! by the :overnment of #n!ia. The /an$ came out ith its #nitial Public 0ffer =#P0> in August )4% )44) an! 1ollo on Public 0ffer in 1ebruary )44+. Presently --.(2 < of 7hare *apital is presently hel! by institutions% in!ivi!uals an! others. ranc! Ne"wor# At the time 9ationalization i.e. ?une 13+3% it ha! )-4 branches. 7ince then% the branch net or$ ha! gro n substantially across the country ith presence in )8 states% inclu!ing union territories. As on ,1st 'arch )44-% /an$ has net or$ )4)4 branches ; 23- Rural% -(2 7emi;urban% -)+ .rban an! ,-, 'etropolitan branches. Tec!$Savv% @ith the age of global ban$ing% .nion /an$ of #n!ia also change! its style% boasting of urbanize! an! computerize! core ban$ing systems. A front runner among public sector
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Performance Appraisal ______________________________________________________________________ ban$s in mo!ern;!ay ban$ing% it has all the facilities that a mo!ern ban$ shoul! have ; internet ban$ing an! centrally computerize! branches. ./# as one of the pioneer public sector ban$s% hich launche! *ore /an$ing 7olution in )44). As of 7eptember )44(% more than +24 branches6e&tension counters of /an$ are net or$e! un!er *ore /an$ing 7olution. The /an$ has launche! multiple Alectronic "elivery *hannels an! has installe! nearly -), net or$e! AT's. Recen" Deve&op'en" .nion /an$ of #n!ia =./#> has informe! the /ombay 7toc$ A&change =/7A> that the ban$ inten!s to raise a!!itional fun!s up to Rs -44 crore in one or more tranches by issue of bon!s on private placement basis for its Tier ## capital re5uirement to shore up the capital to ris$ assets ratio subject approvals from the 'inistry of 1inance an! Reserve /an$ of #n!ia. A&act amount to be raise!% coupon an! tenor of bon!s ill be !eci!e! at the time of placement.
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Performance Appraisal ______________________________________________________________________ !evelopment nee!s of the employee.That is% the appraisal results are use! to i!entify the better performing employees ho shoul! get the majority of available merit pay increases% bonuses% an! promotions. /y the same to$en% appraisal results are use! to i!entify the poorer performers ho may re5uire some form of counseling% or in e&treme cases% !emotion% !ismissal or !ecreases in pay. =0rganizations nee! to be a are of la s in their country that might restrict their capacity to !ismiss employees or !ecrease pay.>
To revie the performance of the employees over a given perio! of time. To ju!ge the gap bet een the actual an! the !esire! performance. To help the management in e&ercising organizational control. Helps to strengthen the relationship an! communication bet een superior G subor!inates an! management G employees. To !iagnose the strengths an! ea$nesses of the in!ivi!uals so as to i!entify the training an! !evelopment nee!s of the future. To provi!e fee!bac$ to the employees regar!ing their past performance. Provi!e information to assist in the other personal !ecisions in the organization. Provi!e clarity of the e&pectations an! responsibilities of the functions to be performe! by the employees. To ju!ge the effectiveness of the other human resource functions of the organization such as recruitment% selection% training an! !evelopment. To re!uce the grievances of the employees.
ASIC PURPOSE: Effective performance appraisal systems contain t o basic systems operating in conjunctionF an evaluation system an! a feedback system. Amployee 8ie point F 1rom the employee vie point% the purpose of performance appraisal is four;fol!F =1> Tell me hat you ant me to !o =)> Tell me ho ell # have !one it
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Performance Appraisal ______________________________________________________________________ =-> Re ar! me for !oing ell. 0rganizational 8ie point F 1rom the organizationBs vie point% one of the most important reasons for having a system of performance appraisal is to establish an! uphol! the principle of accountability
ENE(ITS O( APPRAISAL : Perhaps the most significant benefit of appraisal is that% in the rush an! bustle of !aily or$ing life% it offers a rare chance for a supervisor an! subor!inate to have Htime outH for a one;on;one !iscussion of important or$ issues that might not other ise be a!!resse!. Appraisal offers a valuable opportunity to focus on or$ activities an! goals% to i!entify an! correct e&isting problems% an! to encourage better future performance. Thus the performance of the hole organization is enhance!. Mo"iva"ion an- Sa"i+*ac"ion Performance appraisal can have a profoun! effect on levels of employee motivation an! satisfaction ; for better as ell as for orse. Training an- Deve&op'en" Performance appraisal offers an e&cellent opportunity ; perhaps the best that ill ever occur ; for a supervisor an! subor!inate to recognize an! agree upon in!ivi!ual training an! !evelopment nee!s. Recr,i"'en" an- In-,c"ion Appraisal !ata can be use! to monitor the success of the organizationBs recruitment an! in!uction practices. E'p&o%ee Eva&,a"ion Though often un!erstate! or even !enie!% evaluation is a legitimate an! major objective of performance appraisal. T!e Lin# "o Rewar-+ Research has reporte! that appraisees seem to have greater acceptance of the appraisal process% an! feel more satisfie! ith it% hen the process is !irectly lin$e! to re ar!s.
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PROCESS: Aach step in the process is crucial an! is arrange! logically. The process sho n !o n is some hat i!ealize!
Performance #ntervie
METHODS: There are various metho!s of performance appraisal.An organization selects the most appropriate metho! hich suits its business.1ollo ing are fe of themF ;Rating 7cale ;*hec$list ;*ritical inci!ents 'etho! ;Assay 'etho!
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Performance Appraisal ______________________________________________________________________ #rom the above scores given by the appraiser and reviewing authority for various attributes, Performance is rated on the scale of $ 0utstan!ing :oo! Average /elo Average =84 G 144> =+4 ; 23 > =-4 G (3> =/elo -4>
After the information so obtained from the assessment of performance, the bank is able to provide training needs and is able to find out the potentiality of the employees.
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SEL( APPRAISAL 0 % apprai+ee1: (A)Highlights of my performance during the year are as under =/>Areas in hich # feel # have not !one ell as un!er =*>*onstraints face!
(D)What according to me would enable me to perform better
=A>Any outstan!ing performance outsi!e the /an$ =Assigne! by the /an$> 7EY RESPONSI ILITY AREAS : =A>1or non;operational assignments =/>1or operational assignments
(A) House Keeping (B) Inspection & Audit ( ) ustomer !er"ice (D) !ubmission of #eriodical $eturns (%) $eco"ery #erformance (&) Aptitude for #o"erty Alle"iation #rogrammes (or opera"iona& a++ign'en"+:
(A) 'ob Knowledge (B) (eadership
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(OR OPERATIONAL ASSIGNMENTS: ATTRI UTES /usiness "imensions Kualitative Aspects of /usiness 'anagerial "imensions 0utstan!ing Performance T0TAL=144 'ARI7> TOTAL :; <; =; >; >;; Y APPRAISER Y RE6IE9ING AUTHORITY
NON$OPERATIONAL ASSIGNMENTS: ATTRI UTES Iey Responsibility Areas 'anagerial "imensions 0utstan!ing Performance T0TAL=144 'ARI7> O,"+"an-ing GooAverage e&ow Average 0@; A >;;1 0B; $ CD 1 0=; A ?D1 0 e&ow =;1 TOTAL ?; =; >; >;; Y APPRAISER Y RE6IE9ING AUTHORITY
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Performance Appraisal ______________________________________________________________________ (INDINGS AND ANALYSIS The Appraisal is un!erta$en every year on regular basis.
The appraisal system follo e! is at officer level%i.e. for non;operational assignments an! for operational assignments% i.e. apart from fe criteriaCs they are rate! !ifferently for !ifferent attributes !epen!ing on their job profile. At clerical level the superiors prepare Confidential Report an! there is no part ta$en by the employees at this level.
The hole Performance Appraisal 7ystem is "esigne! in such a ay that the appraisee can be evaluate! on their Iey Responsibilities Areas li$e ; Kuantity of or$% 'eeting job re5uirements on a timely basis% Kuality of or$% Affectiveness M Accuracy% Ino le!ge of job etc. an! 'anagerial Attributes li$e ; Team 7pirit% "ecision 'a$ing Ability% Atten!ance% reliability an! !epen!ability% Planning an! organizational effectiveness% #nitiative an! creativity etc.
Apart from this the appraiser comments on *onceptual abilities% 1le&ibility of min!% Amotional 7trength% Responsiveness to corporate concerns% @illingness to assume Responsibilities% *reativity M #nnovativeness% *ommunication 7$ills.
#t is observe! that the revie !one by the Revie ing *ommittee gets !elaye! sometimes.
The appraisal is un!erta$en not mainly for !eci!ing an increment but the 'ain o.Eec"ive behin! this is to evaluate the annual performance of the employee so that "raining can .e provi-e- an! ban$ is able to fin! out the potentiality of
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Performance Appraisal ______________________________________________________________________ the employees an! also to 'ain"ain "!e recor-+ *or the same for future reference so that it can be use! for pro'o"ing "!e e'p&o%ee in *,",re3
#n the hole appraisal system% often superiors assume the role of ju!ges. #n contrast the aim is to !evelop employeesN managers nee! to be counselors% helpers an! teachers.
The employees sho e! eagerness to learn from their mista$es hich they hope! to rectify an! perform better.
Amployees ere hopeful that after the performance appraisal is over% they ill be properly re ar!e! for their or$ an! that it as a ay to ensure that their efforts !onCt go unnotice!.
Although the employees believe that performance appraisals are for their betterment% in the beginning they ha! !oubts in their min!s about the issue of bias being a factor in the process of evaluation.
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Performance Appraisal ______________________________________________________________________ RECOMMENDATIONS The Performance Appraisal 7ystem is "esigne! in such a ay that the employees can highlight their achievements an! mention constraints but apart from this target shoul! be set as goals such that people strive to attain goals to satisfy their emotions M !esire.
Also the appraiser an! the revie er comments on various attributes of appraisee but there is no proper face;to;face fee!bac$ given to employees herein the appraisee can personally !iscuss the problems face! by him an! some solution can be arrive! at.
Also major fee!bac$ is given by or$ itself% a personal fee!bac$ along ith positive ac$no le!ge oul! be elcome! by employees.
There can be sometimes some !issatisfaction on the part of the employee as the comments an! revie given by the superiors can be biase! so care shoul! be ta$en to avoi! such an instance.
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1rom the above stu!y e can conclu!e that ma&imum employees in the agency see that the performance appraisal is a positive step ta$en by the organization to help them to improve their o n performance. Amployees feel highly responsible to ar!s the job !ue to the free!om given for planning M completing their o n objective% they ill feel even more responsible an! involve! if the changes in their or$ =changes by client> are given ta$ing their opinion.
Thus it can be conclu!e! that Performance Appraisal is one of the best metho!s to not only evaluate employees performance but also to motivate him an! enhance his s$ills by provi!ing him ith proper training by $no ing the constraints he faces at his or$.
Hence% Performance Appraisal is a very positive step ta$en by any organization to gro an! also improve human resource 5uality.
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Reference Books: % Aswathappa " Human Resource and &ersonnel 'anagement by Tata 'c(raw ) Hill &ublishing *ompany +imited, !ew ,elhi, Third -dition. % Aswathappa " rgani.ational /ehaviour.
Website: www.unionbankofindia.com
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