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Mid Year Performance Review

A Mid Year Performance Review is an essential aspect of the overall employee performance management process. It involves an open ended discussion in middle of a year which enables the employee and IRA to evaluate on the achieved performance during first half of financial year and carry an effective strategizing & planning for the latter half. Objective:

• To review the performance and assess the progress in first six months

• To facilitate timely feedback to employees on their performance and assist in achieving the set

yearly goals

• To gauge the gap between the actual and the desired performance

• To identify and address the individuals need gaps to enhance efficiency

• To capture requisite datasets to help in career progression

Coverage: • All C-Code employees joined by 31st March 2015 are eligible for Mid Year Performance Review


Advantages

• A valuable tool to evaluate and analyze performance against the predefined IPMs

• Addressing need gaps in a timely manner

• Ensuring right direction to attain goals and focusing on priorities

• Help in achieving organizational strategic goals by developing and training individuals

• Enhancing interpersonal skills between employee and IRA


Individual Performance Measures (IPMs) are the goals or objectives that the employee needs to achieve for a particular year. IPM’s are set the beginning of the financial year in Goal Setting Activity. Goal setting is the process of deciding what an employee has to accomplish at the end of the year it also helps in devising a plan to achieve the result desired by the organisation. At IIFL , any job can be segregated in any predefined 4 different parameters naming Customer, Process, Finance & Employee to aim at overall growth of an employee along with organisational development. On these parameters the performance of an employee is measured. (Minimum 4 & Max 8 IPMs can be mentioned) The Goals should be SMART. Setting of realistic goals through SMART techniques should be followed. SMART specifies Specific, Measurable, Attainable, Relevant & Time-bound. At IIFL we emphasize in setting SMART Goals which results in motivating employees & building their self confidence. The weightage against each IPM is entered by the Employee in the system. It is the reflection of amount or importance of a particular IPM on the person’s performance. The sum of weightage of all IPMs in all parameters put together must be 100%

Individual Performance Measures (IPMs)

Reward System - Rating

Rating Scale: Ratings are the scores given to employee against each IPM on the basis of performance of the employee relative to other employees performing similar jobs at IIFL by IRA / Reviewer / HOD. Performance Ratings determines an employees overall performance during the time period. The Various Ratings at IIFL are : • Flyer (4): It indicates that exceptional performance is demonstrated , high accomplishments of task are

made in areas besides current job role without much supervision. Is recognized as an expert in his or her job area.

• Runner (3): Employee performs assigned responsibilities in a manner that consistently exceeds

expectation, as demonstrated throughout the review period. Takes initiative to seek information or clarification of policies, procedures or objectives. Takes on additional tasks assigned without defaulting in other assigned activity areas

• Walker (2): Employee performs assigned responsibilities throughout the review period. Has ethical work habits, follows established work schedule, completes projects and tasks and produces acceptable output of work

• Learner (1): Employee performs assigned responsibilities in an unsatisfactory manner, has not responded

to constructive feedback, or has not improved performance.

"Performance" includes not only how well the employee carries out the specific tasks or responsibilities of the job, but also includes work habits or behaviors that impact customers, co-workers or the general work environment

Giving Feedback In A Mid Year Review

Feedback is a significant element during the Mid Year Performance Review. One to one feedback sessions between the employee and IRA is important in order to recognize employees’ accomplishments, provide guidance to employees for further progress and improve performance.

Feedback session at IIFL will play a twin role evaluating employees’ performance and also serve as an enabler towards employees’ career advancement.

Feedback can reinforce existing strengths, keep goal-directed behaviour on course, clarify the effects of behaviour, and increase the recipient’s ability to detect and remedy errors independently. Both appraisers and appraisees can use the tips below to learn to receive and give feedback more effectively.

Feedback is effective when the IRA ensures that it:

• is descriptive rather than evaluative; • is focused on the employee’s behaviour rather than the

employee as a person; • is specific and based on information rather than general

and based on impressions; • provides information from their own experience; • reinforces positive new behaviour and what the

subordinate has done well; • suggests rather than prescribes avenues for

improvement; • is continual rather than sporadic; • is intended to help; • contributes to the rapport between the IRA and the

employee and enhances their relationship.

Receiving Feedback Effectively by employee:

• Listen effectively to the feedback given • Be aware of your non-verbal responses • Be open & receptive to new ideas and different

opinions • Understand the feedback before responding to the

it • Ask questions for clarification • Follow up on Feedback given, post implementing it

Process Flow

IPM Setting

(Beginning of

Financial Year)

Mid Year Performance

Review

(Mid Year Review)

PARS

(Annual Appraisal End of Financial Year)

Step 1: IPM Setting Stage– Employee

Section A displays the details

of the employee

Mouse over help icon for the

Help Information

Click on My IPM

Click here to minimize and

expand Section B

Click Here for IPM Setting

Click on

Performance Alignment

IPM Setting – Employee

Employee selects the

Parameter from Dropdown Employee enters

Measurement Criteria Employee enters Individual

Performance Measures (IPMs)

Employee enters

Weight age

Employee Clicks on ‘Save’ Note : Minimum 4 & max 8 IPMs

Select Appraisal Calendar


Select Goals to Submit for

approval from Saved goals

Click on ‘Submit’

Note: Total weight age of goals to be

submitted should be 100%


Select Goals to submit for approval

from Saved goal

Notification message post Submission


Step 2: IPM Setting Stage - IRA

IRA clicks here to

approve Pending IPMs

IPM Setting

IPM Setting – IRA

IRA clicks on Employee

to approve his IPM

IRA approves/ Rejects IPM and

enters comments against each IPM

IRA Clicks on Approve

IPM Setting – IRA

Notification Message to display IPM setting stage is completed

Notification message post submission

IPM Setting – IRA

Step 1: Mid Year Performance Review - Employee

PARS Stage

EMPLOYEE LOGIN

Section A displays the details

of the employee

Click here to minimize and

expand Section B

Click for entering Self Appraisal

Click on

Performance Alignment

Mid Year Performance Review– Employee


Click here for Mid Year

Performance Review

Click here to view IPM content

and Measurement Criteria

Employee enters ‘Extent of

Achievement’ against each IPM

Click on ‘Save’ to save


Click on ‘Training’ section

Click ‘Add’ to select training from

available courses

If required training is not available in list

it can be added in the text box


Select from required

course title

Click on Choose

Particip

ant

Select Location, Type and

Category, click Go

Mid Year Performance Review – Employee

Click on Strengths

and Development

Employee enters

Strengths

Employee enters

Development Area

Employee Saves & Submits



Notification Message to display Mid Year review is submitted successfully



Step 2: Mid Year Performance Review -

IRA

Mid Year Performance

Review

Mid Year Performance Review– IRA

IRA clicks to view and continue

the mid year review process

IRA clicks on Employee name to

proceed with the mid year

review process


IRA selects the Rating

against each IPM

Click here to view IPM content

& Measurement Criteria

IRA can view

Calculated Rating Click here to Save

Click on Goals

IRA enters comments for

the employee against each IPM IRA can view employees

‘Extent of Achievement’


Click here to Save

IRA selects Rating against

each Competency

Click on

Competencies


Click ‘Add’ to select training from

available courses

If required training is not available in list

it can be added in the text box

Click on ‘Training’

section


Select from required

course title

Click on Choose

Particip

ant

Select Location, Type and

Category, click Go


IRA can view the Strengths &

Development Areas entered by

employee


Click here to Save

IRA clicks here

to Approve

IRA clicks on

Overall Comments


Notification Message to display

Appraisal is submitted successfully



Reviewer

Reviewer clicks here to view and

continue with mid year review

process

Mid year

Performance

Review

Mid Year Performance Review– Reviewer

Reviewer clicks on Employee name to

proceed with the mid year review

process for the particular employee


Reviewer can view comments

given by IRA & may add comments

against each IPM for the employee

Reviewer can view Ratings given

by IRA & may modify if required

Click on Save


Reviewer enters

Over all Comments (Mandatory)

Reviewer can view Goals, Competencies,

Training, Strengths & Development Click on Overall

Comments

Click on Save & Approve



HOD

HOD clicks to view and continue

the mid year review process Mid Year

Performance

Review

Mid Year Performance Review– HOD

HOD clicks on Employee name to

proceed with mid year review process


HOD enters Over all

Comments (Optional)

Click on Overall

Comments

HOD selects the

Final Rating from

the drop down

Click on Save & Approve

HOD can view Goals, Competencies,

Training, Strengths & Development

HOD can view comments

given by IRA & Reviewer


Notification Message to display HOD comment / Appraiser’s Feedback edited successfully


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Thank You !

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