Summer Training Project Report o1

SUMMER TRAINING PROJECT REPORT ON

(PERFORMANCE MANAGEMENT SYSTEM IN RELIGARE

ENTERPRISES LIMITED)

FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF

POST GRADUATE DIPLOMA IN MANAGEMENT

UNDER THE GUIDANCE OF: UNDER THE SUPERVISION OF:Prof. Abhinn Baxi Ms. Rachita Shrivastava HR Manager Religare Enterprises Ltd.

SUMITTED BY: Vinika Tyagi 10PGDM116 PGDM 2010-2012

Galgotias Business School

APPROVED BY AICTE, MİNİSTRY OF HRD, GOVT. OF INDİA)

1, KNOWLEDGE PARK, PHASE II, GREATER NOİDA. (U.P.)

CERTIFICATE

This is to certify that the project work done on “how performance management system works” is a bonafide work carried out by “Vinika Tyagi” under my supervision and guidance. The project report is submitted towards the partial fulfillment of 2- year, full time Post Graduate Diploma in Management.

This work has not been submitted anywhere else for any other degree/diploma. The original work was carried during 27-5-2011 to 15-6-2011 in “Religare Enterprises Limited”.

Prof. Abhinn BaxiDate:

DECLARATION

I, Vinika Tyagi, Roll no 10PGDM115, student of PGDM of Galgotias Business School, Greater Noida, hereby declare that the project report on “how performance management system works” at Religare Enterprises Limited, Noida is an original and authenticated work done by me.

I further declare that it has not been submitted elsewhere by any other person in any of the institutes for the award of any degree or diploma.

Vinika Tyagi

Date:

PREFACE

Practical knowledge means the visualization of the knowledge, which we read in our books. For this, we perform experiments and get observations. Practical knowledge is very important in every field. One must be familiar with the problems related to that field so that he may solve them and become a successful person.

After achieving the proper goal in life, a manager has to enter in professional life. According to this life, he/she has to serve an industry, may be public or private sector or self-own. For the efficient work in the field, he must be well aware of the practical knowledge as well as theoretical knowledge.

To be a good manager, one must be aware of the industrial environment and must know about management, working in the industry, labour problems etc. so he/she can tackle them successfully.

Due to all the above reasons and to bridge the gap between theory and practical, our curriculum provides a practical training of 2 months. During this period, a student works in the industry and gets all type of experience and knowledge about the working environment.

I have undergone my summer training (after 3rd trimester) at “RELIGARE ENTERPRISES LTD” in “NOIDA”. This report is based on the knowledge, which I acquired during my training period.

ACKNOWLEDGEMENT

I wish to express my sincere gratitude to the “Prof. Renu Luthra”, Director Galgotias Business School, Greater Noida and Director CRC “ Mr.V.K Luthr” for providing me an opportunity to complete my project work on “how performance management system works” at Religare Enterprises Limited.

I sincerely thank to my project guide “prof. Abhinn Baxi”, faculty GBS and my mentor for guidance and encouragement in carrying out this project work. I am really thankful to my mentor for the constant reminders and much needed motivation.

My special thanks to my supervisor “Rachita shrivastava – human resource manager” for her kind co-operation to the completion of my project work. I also wish to express my gratitude to the officials and other staff members of “Religare Enterprises Limited, Noida” who rendered their help during the period of my project work.

At Last I wish to avail myself of this opportunity, express a sense of gratitude and love to my beloved parents for their providing strength, help and for everything. Last but not the least I would like to thank God who made all things possible.

TABLE OF CONTENT

1. Preface2. Acknowledge3. Introduction

Introduction of HR Performance management system Overview of organization

4. Literature Review Background of the company Promoters Features of the services Competitors Major problems Achievements Share market position National & international image Future prospects

5. Research methodology Introduction & objective Research Design Data collection Instruments Research Limitation

6. Data Analysis and Interpretation Data analysis of MS-Access Data analysis of MS-Excel Data analysis of feedback given by the Supervisors

7. Findings of the Project8. Conclusion9. Bibliography

INTRODUCTION Human resoure

Human resource is a term used to describe the individuals who comprise the workforce of an organization, although it is also applied in labour economics to, for example, business sectors or even whole nations. Human resources is also the name of the function within an organization charged with the overall responsibility for implementing strategies and policies relating to the management of individuals (i.e. the human resources). This function title is often abbreviated to the initials 'HR'. Human resources are a relatively modern management term, coined in the 1960s. The origins of the function arose in organizations that introduced 'welfare management' practices and also in those that adopted the principles of 'scientific management'. From these terms emerged a largely administrative management activity, co-coordinating a range of worker related processes and becoming known, in time as the 'personnel function'. Human resources progressively became the more usual name for this function, in the first instance in the United States as well as multinational corporations, reflecting the adoption of a more quantitative as well as strategic approach to workforce management, demanded by corporate management and the greater competitiveness for limited and highly skilled workers.

PERFORMANCE MANAGEMENT SYSTEM

Performance

It is actual results vs. desired results

Performance problem

Gap b/w desired result & actual result

Performance improvement

Any efforts targeted at closing the gap b/w actual & desired results.

Performance Management

It includes activities that ensure that goals are consistently being met in an effective and efficient manner of any organization.

It focuses on the performance of

http://en.wikipedia.org/wiki/Human_resource_management

An organization A department An employee

And many other areas It is an integrated approach to ensure that an employee performance support &

contributes to the organization strategic goals. It can be thought of as a cycle

Performance planning where goals and objectives are established. Performance coaching where a manager intervenes to give feedback Performance appraisal where individual performance is formally

documented and feedback delivered It is a formal system of review and evaluation of individual or team task performance.

Steps in performance appraisal

Uses

Setting work standards

Assessing work performance

providing feedback (to motivate, correct, and continue their performance)

Hr planningAvailability of data to identify those who have the potential to be promoted.

Recruitment and selectionPredicting the performance of job applicants

Training & developmentPoint out an employee specific needs for T & D

CompensationProvide a basis for rational decisions regarding pay adjustments.

Internal employee relationSuch as promotion, demotion, termination, layoff and transfer.

Why PMS is required?

Building blocks of an effective performance management process?

Direction sharing

TOTAL QUALITY

APPRAISAL ISSUES

STRATEGIC FOCUS

Role clarification Goal setting & planning Goal alignment Developmental goal settings Ongoing performance monitoring Ongoing feedback Coaching and support Performance appraisal Rewards , recognition & compensation

Methods & techniques to evaluate the performance

Graphic rating scale method Alternation ranking method Paired comparison method Forced distribution method Critical incident method Narrative forms Behaviorally anchored rating scales (BARS) Management by objectives(MBO) Annual confidential report(ACR)

Introduction of the organization

Religare Enterprises (REL) is engaged in providing financial products and services. REL was established in 1984. REL provides services across three segments namely retail, institutional and wealth. The company provides various services through its subsidiaries and associate companies namely Religare Securities, Religare Commodities, Religare Realty, Religare Capital Markets, Religare Hichens Harrison, Religare Finvest, Religare Insurance Broking, Religare Arts Initiative, Religare Venture Capital and Religare Asset Management

The company offers a wide range of investment options and financial services. REL has pan India presence spanning across 1550 locations in 460 cities and towns. The company has acquired two hundred years old brokerage and investment firm-

Hichens, Harrison & Co. plc. This company was founded in 1803 in London. Today this firm is part of REL and renamed as Religare Hichens Harrison plc (RHH)

The company has taken initiatives and formed various companies such as Vistaar Religare Film Fund is a venture between REL and Vistaar Entertainment Ventures to fund films; REL’s Femme Power is an independent financial advisory platform managed by women, for women and BANCINVEST is building a relation with large private and public sector banks to offer online/ offline equities and portfolio management services. REL has forayed in life insurance by entering into partnership with Aegon which is one of the world's largest life insurance 1``and pension groups. This joint venture has formed a company named as Aegon Religare Life Insurance Company.

a) Vision

To build religare as a globally trusted brand in the financial services domain and present it as the “Investment Gateway of India”.

b) Mission

To provide financial care driven by core values of diligence and transparency. The company’s brand essence is diligent, dynamic and ethical processes for wealth creation.

Retail Equity BrokingOnline Investment PortalDepository Services

Commodity Broking Business

Asset Management BusinessPortfolio Management ServicesAUM of around USD 4 Bn

Life Insurance Company, JV with Aegon (26%), Religare (44%), and Bennett & Coleman (30%)

JV with Macquarie for Wealth Management Business

Religare Finvest

Ltd. (100%)

Religare Commodit

ies Ltd. (100%)

Religare Securities

Ltd. (100%)

AEGON Religare

Life Insurance Co. Ltd. (44%)

Religare Macquarie

Wealth Mgmt. Ltd.

(50%) Insurance Broking Business (Composite broker for Life, Non – Life and Reinsurance)

Global Investment BankingGlobal Institutional Equity Business

JV with Vistaar Entertainment Ventures for film fundIndia’s first ever film fund

JV with Milestone Capital to manage a healthcare and education fund

Religare Insurance Broking

Ltd. 100%)

Religare AMC

(100%)

Religare Capital

Markets Ltd.

(100%)

Vistaar Religare Capital

Advisors Ltd. (74%)

Milestone

Religare(50%)

Religare Enterprises is an integrated financial services

conglomerate

Board comprises Promoters and Independent Directors

Religare Enterprises Ltd.

Boards for subsidiaries comprising Professional Management and Independent Directors

Lending & Distribution Business

Health Insurance Business

Religare Health

Insurance Ltd.

(100%)

Non Banking Finance Company

Religare Finance

Ltd (100%)

360 degree platform for the business of artsArts FundArts Gallery

Religare Arts

Initiative (100%)

c) Core competencies

Uniquely structured in-house software and hardware department Professionally managed by qualified and trained manpower Query handling within 48hrs Strong secretarial, accounting and audit systems Unique work culture of working 7 days a week in 3 shifts Unmatched network spreading all over the india

d) Products and Services

Retail spectrum Under this it provides products and services in area of equity trading, commodities trading, mutual funds, personal financial services, consumer finance and insurance. It also provides bonds, deposits, IPOs and small saving scheme. The company also has online investment portal www.religareonline.com that makes available all the investment options online.

Wealth spectrum

Under this the company provides wealth management services, portfolio management services and advisory services.

Institutional spectrum

The company provides range of services such as broking, investment banking and insurance advisory to institutional customers.

Departments of the company a) Organizational chart

ORGANISATION STRUCTURE OF RELIGARE ENTERPRISES LTD

Ceo and MD

Product HeadCommodities

Product HeadInternet Trading

Product HeadInsurance

Product Head Mutual Fund

1.

Regional Head

Central Leadership and Management Team

Product headPMS

RegionalProduct HeadPMS

Regional Product HeadMutual Fund

Regional Product HeadInsurance

Regional Product HeadCorporate Finance

Regional Product HeadCommodities

RegionalProduct HeadInternet Trading

Zonal Head

Branch Manager

Product HeadCorporate Finance

. b) Description about the functioning of the departments

Objective of the study

To know about the working of the performance management system and analyze whether it is properly working or not .If not then what are the drawbacks.

Hypothesis

Hypothesis Testing is a statistical methodology that seeks to prove or disprove if a certain belief about a series of data is true. It is a procedure, based on sample evidence and probability theory, used to determine whether the hypothesis is a reasonable statement and should not be rejected, or is unreasonable and should be rejected.

A Hypothesis is a statement about the value of a population parameter developed for the purpose of testing. The testing party begins by setting up a null hypothesis, which is typically the original belief that is potentially incorrect given the new data; this represents the statement being tested. The alternative hypothesis is the new possibility that will potentially disprove the null hypothesis. If there is sufficient evidence after testing to accept the alternative hypothesis, then it will be considered true; if it is disproved, then the null hypothesis will be accepted.

Here I have developed hypothesis on the basis of theoretical framework. And then I will try to proof these statements.

Null Hypothesis

The present scenario of performance management system is not helping in improving the performance of the employees

Alternative Hypothesis

The present scenario of performance management system is helping in improving the performance of the employees.

LITERATURE REVIEW

RelationshipManager

PMS

RelationshipManager

Mutual Fund

RelationshipManagerInsurance

DealerRelationship ManagerCorporate Finance

Relationship ManagerCommodities

Relationship Manager Internet Trading

Background of the company Company was originally incorporated as Vajreshwari Cosmetics Private

Limited on January 30, 1984. The name of our Company was changed to Religare Enterprises Private

Limited on January 10, 2006.

Latin word for “to bind together

1. Rare four-leaf clover – harbinger of good fortune2. Each leaf has a special meaning- Hope, Trust, Care & Good Fortune3. Considered good fortune to find a four-leaf clover since there are aboutEstimated 10,000 three-leaf clovers for every one four-leaf clover found. Hope-Trust-Care-Good Fortune, all elements perfectly combine in the emblematic and rare, four-leaf clover to visually symbolize the values that bind together and form the core of the Religare vision.“Religare” is a latin word which means ‘to bind together’.

Promoters Malvinder Mohan Singh Shivinder Mohan Singh

Features of the services • RELIGARE RETAIL SPECTRUM a) Equity trading religare ensure a superlative trading experience through A highly process driven, diligent approach. Powerful research and analytics.b) Commodities trading a wholly owned subsidiary of religare enterprises ltd.

were initiated to spearhead exchange based commodity trading.c) Online investment portal religare online is a single gateway for all financial

needs. Trade online in equities, commodities, invest in mutual fund, life insurance etc.Personal financial services the search of a partner who can help an individual to understand the complex investment instruments & make the best use of them to meet his/her short-term & long-term financial objectives

d) Loan religare finvest ltd. Registered with the “ Reserve Bank of India” as a non banking finance company (NBFC)

e) insurance solution religare with one of the largest retail network in the country offers complete range of insurance solution though its 100% subsidiary company religare insurance broking ltd. (RIBL)

• RELIGARE WEALTH SPECTRUM To provide customized wealth advisory services to high net worth individuals (HNIs). Religare offers an exceptional selection of investment opportunities in every asset class.

a) Wealth management it operates its wealth management business in partnership with macquaire. The new brand- “religare macquaire private wealth” shall strive to manage, grow and presence the wealth of indian HNIs.

b) Portfolio management services (PMS) religare offers PMS to address varying investment preferences, as a focused service, PMS pays attention to details & portfolios are customized to suit the unique requirement of investors. At present there are six portfolios namely “monarque, panther, tortoise, elephant, caterpillar and leo”.Each scheme is designed keeping in mind the varying tastes, objectives & risk tolerance of investors.

C) Religare arts initiatives (RAI) REL launched RAI, so while most galleries, auction houses and arts funds operate art businesses, RAI will conversely leverage business for art. The GALLERY is the first physical manifestation of this initiative. The art gallery was opened on oct 1, 2008 with its first exhibition showcasing 16 contemporary and emerging artists.

D) Film fund REL and vistaar entertainment ventures private limited launched Indias first ever film fund- “vistaar religare film fund “ (VRFF) for the film and media business.vistaar & religare bring an opportunity to invest and partner with the ever evolving and recession proof medium of films, through VISTAAR RELIGARE FILM FUND.

• RELIGARE INSTITUTIONAL SPECTRUM Institutions, banks & the corporate have their own unique investment needs religare recognizes this & strives to offer a superlative investment experience for institutions. It includes:-

Institutional broking services The institutional broking services at religare cater to the investment needs of leading cooperate houses and institutions Institutional broking desk is currently dealing with almost all the leading clients groups like mutual funds, FIIs, banks &insurance companies.

Investment banking Investment banking business offered through “religare capital markets ltd”. (RCML) , a wholly owned subsidiary of the holding company, REL deals in merchant banking , transaction advisory and corporate, entrepreneurs and investors.

Insurance advisory“religare insurance broking ltd.” (RIBL) A religare enterprises ltd. Venture is one of the India’s .leading insurance broking firms, with one of the largest retail networks in the country. The company holds a composite broker’s license operating in the life, general and reinsurance domains.

Competitors ICICI DIRECT

ICICI Web Trade Limited (IWTL) maintains www.icicidirect.com (hereinafter referred to as website) where as IWTL is an affiliate of ICICI bank limited and the website is owned by ICICI bank limited. IWTL has launched and established an online trading service on the website.

Products and services

Investing in mutual funds Personal finance Computer services features IPO’s Margin trading Margin plus trading Call trading Trading on NSE/BSE

o India Infoline Security Pvt. Ltd.

Indiainfoline.com Securities Pvt. Ltd. Is a wholly owned subsidiary of Indiainfoline.com ltd. And is the stock broking arm of Indiainfoline.com. The subsidiary was formed to comply with regulatory guidelines. www.5paise.com is a focused website of online stock group.

IILSPL has applied for trading membership of the BSE under securities and exchange board of India (stock brokers and sub brokers) rules 1992.

Products offered by India Infoline Securities Pvt. Ltd.

Stock market- IISPL deals in stock market by trading in equity and derivatives. Personal finance- it deals in mutual funds and insurance. Other trading- it provides services in stock and commodity trading (through internet). o HDFC securities

HDFC securities are the subsidiary of (housing development financialCorporation). www.hdfcsec.com would have an exclusive discretion to decide the customers who would be entitled to its online investing services www.hdfcsec.com also serves the right to decide on the criteria based on which customers would be chosen to participate in these services. The present website (www.hdfcsec.com) contains features of services that they offer/propose to offer in due course. The launch of new services in subjected to the clearance of the regulators i.e., SEBI, NSE, BSE.

Products offered by HDFC securities

Online trading for resident and no resident Indians Cash-n-carry on both NSE and BSE Day trading on both NSE and BSE Trade in futures and options on NSE Online IPO’s Telephone based broking (equity and derivatives)

o India bulls

Indiabulls was incorporated as GPF securities Pvt Ltd on June 9, 1995. The name of company was changed to ORBIS securities Pvt Ltd on Dec 15, 1995 to change the profile of the company and subsequently due to the conversion of the company into a public limited company. The name was further changed to Orbis securities limited on Jan 5, 2004. The name of the company was again changed to INDIABULLS Securities Ltd on Feb 16, 2004 so as to capitalize the brand image of the term ‘INDIABULLS’.

Products offeredEquity and debt stock broking, Insurance Commodity trading, Depository service, Derivative broking services, Equity research service, Mutual fund distribution & IPO distribution

o Kotak Securities

Kotak Securities Limited, a subsidiary of Kotak Mahindra Bank, is the stock broking and distribution arm of the Kotak Mahindra Group. The company was set up in 1994. Kotak Securities is a corporate member of both The Bombay Stock Exchange and The National Stock Exchange of India Limited. Its operations include stock broking and distribution of various financial products - including private and secondary placement of debt and equity and mutual funds. Currently, Kotak Securities is one of the largest broking houses in India with wide geographical reach. The company has four main areas of business:

(1)Institutional Equities, (2) Retail (equities and other financial products), (3) Portfolio Management (4) Depository Services.

o Reliance Money

Reliance Money, a Reliance Capital company and part of the Reliance Anil Dhirubhai Ambani Group is a comprehensive financial services and solution provider. It is a one-stop shop, providing end-to-end financial solutions (including mobile and web-based services). It has the largest non-banking distribution channel with over 10,000 outlets and 20,000 touch points spread across 5,165 cities/ towns; catering to the diverse needs of over 3 million existing customers.

Reliance Money endeavors to change the way investors transact in financial markets and avails financial services. It provides customers with access to Equity, Equity and Commodity Derivatives, Offshore Investments, Portfolio Management Services,Wealth Management Services, Investment Banking, Mutual Funds, IPO’s, Life andGeneral Insurance products and Gold Coins. Customers can also avail Loans, Credit Card, Money Transfer and Money Changing services.Reliance Capital is one of India's leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking groups, in terms of net worth.

o Share Khan Securities

Sharekhan securities is one of the leading retail of citi venture which isrunning successfully since 1922 in the country. Earlier it was the retailbroking arm of the Mumbai based SSKI Group which is eight decades of experience in the stock broking business. Sharekhan offers the customers a wide range of equity related services including trade execution on BSE, NSE, derivatives, depository services, Online trading, investment advice etc.

Products offered

Equity trading platform (online /offline)

Commodities trading platform (online/offline) Portfolio management services Mutual funds advisory and distribution Insurance distribution

Major problems o People are not much aware of commodity market and while it’s going to be

biggest market in India.o The need of customers differs from person to person, areas, locality and

occupation. Customers always want more services by paying less.

Achievements Key Events and Milestones

YEAR EVENT1994 RSL received membership of the NSE as ‘stock broker’2000 RSL received membership of the Futures and Options segment

of the NSE RSL received registration as ‘Depository Participant’ with NSDL

2001 RFL received registration as ‘non-banking financial institution’ n not accepting public deposits with RBI

2002 Received registration as ‘Portfolio Manager’ from SEBI2003 RSL received registration as ‘Depository Participant’ with

CDSL.2004 RSL received membership of the BSE as ‘stock broker’

RCL received membership of MCX as ‘trading-cum-clearing memberRCL received membership of NCDEX as ‘trading-cum-clearing member

2005 RFL received enrollment as ‘AMFI registered mutual fund advisor

2006 Establishment of representative office in London. RCL received membership of NMCE.RIBL received licence from IRDA to act as ‘composite broker’.Joint venture agreement with Aegon International N.V. for carrying on the business of mutual fund asset manages management. RSL received registration as Merchant Bank in C at egor category - I from SEBI.

2007 RSL received membership of derivative segment of the BSE as t rad trading-cum-clearing memberReligare Enterprises to enter the capital marketReligare - Macquarie Joint Venture for Wealth ManagementReligare to acquire UK brokerage HichensReligare strengthens its Bancinvest Channel Adds Karur Vysya B Bank to its kitty

2008 Religare AEGON Asset Management Company Private Limited, a join venture between Religare and AEGON, has received the final r regulatory approval from the Securities and Exchange Board of IndiIndiaa (SEBI) to launch mutual fund business in the country.

Religare Enterprises gets SEBI nod for LOTUS acquisition 2009 Religare, a diversified financial services company, and Andhra

B ank, Bank, well known Public Sector Bank in the country, have entered into a strategic tie-up offering Religare's internet trading services platform to the Bank's customers.

Religare and Swiss Re join hands to enter India health insurance space

Religare launches CSR Initiative

Market Share

National & international image Religare has a pan India presence, 1837 locations across 498 cities &

towns.

Proportion of locations in different areas in india

It currently operates from eleven international locations.

RESEARCH METHODOLOGY

• Type of Research Descriptive

• Type of Data Primary

• Data Collection Method Questionnaire

• Target group Religare Securities Ltd.

Religare Finvest Ltd.

• Sample Size 40

• Sample unit supervisors and individual employees.

• Sampling Technique systematic and convenience Sampling

Research always starts with a question or a problem. Its purpose is to answer to questions through the application of the scientific methods. It is a systematic and intensive study directed towards a more complete knowledge of the subject studies. Once the problem is defined properly then one can easily check out the Objectives for the research.

Objectives of the Research Project

The subject matter for this research Project is to study the “present scenario of performance management system” in REL and give suggestions on the basis of the study.

Research Design: Descriptive Research

The type of research Design for this Research Project is “Descriptive Research”.

Evaluation has been done in the phases:o Filling up of questionnaire by the employeeso Validating the same by their respective supervisorso Methodology used was one to one discussion with both supervisor and

employee.o The final analysis is done on the basis of information extracted from the filled

questionnaire.

The complete research design is formulated with the following steps:

o Identify and define the problemo Choice of Research Designo Determining sources of Datao Designing data collection Formso Determining sampling design and sampling sizeo Organizing and conducting the field surveyo Processing and analyzing the collected data

Interpretations

Evidence of performance is not gathered throughout the year.

Options No. of respondents1.)Strongly Agree 82.)Disagree 133.)Neither Agree nor Disagree 54.)Agree 95.)Strongly Agree 5

20%

33%13%

23%

13%

No. of respondents1.) Strongly Disagree 2.) Diagree3.) Neither Agree nor Disagree 4.)Agree5.) Strongly Agree

Participation of the employee in the process is not at the required level.


35%

38%

15%

13%


Ratings are sometimes seen as based on subjective judgments


25%

33%15%

23%5%


Low performance is highlighted, but no development Support is defined.


5%

43%

20%

25%8%


With the help of the survey, we can conclude that 47% of employees are disagreeing with the statement that means nearly 50% of the employees are satisfied with the present developmental support given by the company which seems to be a good enough. But at the same time 33% of the employees are not satisfied with the present scenario of giving developmental support to the employees having low performance.

We can say that somewhat improvement is needed for making employees satisfied. Also to make them work effectively and efficiently

so that they can contribute to the achievement of goals of the company by performing well.

Personal objectives are not aligned to the Business goals.


25%

33%15%

23%5%


Compensation on the basis of the performance evaluation creates disputes in the organization.


25%

33%15%

23%5%


Here as we can see that 55% of the employees are disagree with the statement that means compensation on the basis of the performance evaluation do not create disputes in organisation and this method is good enough.

On considering the portion of the employees saying it creates disputes which is only 28%, system just need to give an overview to the process.

The feedback is expected by the employees on monthly or quarterly basis rather than providing it at the end of the year.

Options No. of respondents1.)Strongly Agree2.)Disagree3.)Neither Agree nor Disagree4.)Agree5.)Strongly Agree

Performance appraisal system in the organization highly motivates the employees.


5%8%

13%

40%

35%


The above research shows that 75% of the employees are satisfied with the statement which is saying that the appraisal system highly motivates the employees. It proves that the satisfaction level of the employees is very high regarding the appraisal system.

It’s good to know that the employees having dissatisfaction level high are only 11% which is not a matter of worry.

Periodic review process increases employee's interest and improve job performance.


Employees timely get automatic E-Mail reminders, and prompts, when targets are due.

Options No. of respondents1.)Strongly disagree 12.)Disagree 53.)Neither Agree nor Disagree 84.)Agree 225.)Strongly Agree 4

3%13%

20%

55%

10%

No. of respondents1.) Strongly Disagree 2.) Disagree3.) Neither Agree nor Disagree 4.)Agree5.) Strongly Agree

From the above figure we can conclude that 65% of the employees are getting automatic mails timely when the targets are due. It seems that how careful the company is about the target achievement and the company wants employees to achieve the given targets on time.

System needs to have an overview that where the problem exist with these 15% employees. May be some technical problem is there so fix it.

The company gives employees a sense of what they thought of his or her potential or ability.


20%

33%13%

23%

13%


Potential & performance appraisal are the best way to judge the employee


Comments from supervisors are not included.


20%

33%13%

23%

13%


The organization is taking appropriate measures to judge the employees potential.


20%

33%13%

23%

13%


Periodic reviews help supervisors to gain a better understanding of each employee's abilities.


20%

33%13%

23%

13%


Supervisors discuss each goal or objective established for the employee.


20%

33%13%

23%

13%


Supervisors and the employees are clear on the areas of agreement? Disagreement?


20%

33%13%

23%

13%


Evaluate employees on specific work dimensions, rather than on a single overall or global measure.


20%

33%13%

23%

13%


Employees put their efforts personally to become more proficient in their assignment.


The methods and approaches used by the employees in performing the job are mostly satisfactory.


20%

33%13%

23%

13%


Summer Training Project Report o1

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