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15684295 Final Project Report on Performance Appraisal

15684295 Final Project Report on Performance Appraisal

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Published by: mohitmohit84 on Jul 15, 2009
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02/24/2012

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W
HY
I H
AVE
S
ELECTED
 
THIS
OPIC
. 
The Economic Times – Monday 17 April 2006.
WHAT DOES INDIA INC WANT ? SENIOR EXECS SPEAK OUT. Empowerment, Clarity In Organisation’s Vision Matter Most To Employees
Hey India Inc, if surging employee attrition is bothering you, filling employee morale is becoming an issue, and hiring people is giving you sleepless nights, then wake up and listen towhat job-hopping highflying executives in Corporate India are demanding.
For top-rung executives, clearly, empowerment and clarity in the organisation’s vision iswhat matters the most
--- while 62% of India’s top executives want their organization to clarifyits vision, 31% want more empowerment.
However, for the middle and junior management,rewarding performance on a frequent basis appears to play an important role.
A survey carried out by the executives search firm, Executives Access, reveals this and providesmany more insights into
what Indian executives are looking for in their career.HR is no longer a non-core function and in the ongoing talent war
, it will play a critical rolein employee engagement and retention. Look at what just happened at Infosys—T V MonandasPai traded his CFO job for the position of HR head, something virtually inconceivable a fewyears ago. Progressive companies are now walking up to the importance of the HR function.
According to the survey one in every four respondents across the country wants his/hercompany to let HR play a proactive role.
Understandably, in the already-conscious IT and Ites
 
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sector, this proposition got a high 25% vote. But even executives in the FMCG and hospitalitysectors voted in a similar range—21-25% --- showing that the criticality of the HR function is being felt far beyond the technology sector.
This is also a wake up call to the manufacturing sector, which has seen top talent fleeing tothe service sector.
Lagging far behind the service sector in employee engagement, a high 37% inthe manufacturing sector want their companies to empower HR and make it play a proactive role.
 
The maximum overall executives votes—33% however go to giving clarity to the company’svision. Employees want their companies to deliver what they promise and walk the talk.
Clearly,employees want their companies to constantly communicate and update them on its visionand goals.
“ There is a very serious disconnect. One in every three employees is not clear or cannot relate to his/her company’s vision,” says Ronesh Puri, managing director, ExecutiveAccess. Rewarding performance is the third most critical area of concern for employees. Andguess what --- this is being felt most acutely in the media sector. Around 30% of respondents inthe sector --- almost double the national average of 15% ---
want their companies to focus a lotmore on performance reward.
As expected, performance reward got the highest marks in Bangalore, India’s Silicon Valley,where the presence of a large number of IT companies and MNCs has raised awareness levelsamong executives about reward and compensation. 21% of executives survey in Bangalore wantcompanies to focus on performance rewards to retain top talent.
What also came out loud and clear in the survey is a strong gender bias on theempowerment issue.
While for male executives, empowerment is an area of concern with 17%voting for it, only 2% of women executives found it important enough in making their career decisions. Perhaps, the fact that top management in India Inc is still a male bastion hassomething to do with this, since empowerment as an issue becomes important in the topechelons.
WHY?

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