A Training Report
IN BAJAJ ALLIANZ LIFE INSURANCE CO. LTD, CANNOUGHT PLACE DELHI (Submitted in Partial Fulfillment of the Requirement of Bachelor of Business Administration, Distance Education) Punjab Technical University, Jalandhar
Project Guide: Ashwin Divakaran Name: Ashwin Divakaran Designation: Zonal HR
Submitted By: Nidhi kukreja Name: Nidhi kukreja Enrollment No.:1655 Specialization: Human Resources Remark Of External Examiner
Marks Scored: Signature:
Session 2008-2011 Indraprastha Institute of Technology & Management, New Delhi Punjab Technical University, Jalandhar
Chapter 1 Company Profile
COMPANY PROFILE Mi s s i on : To becom e a r es pons i bl e cus t om er focus ed m arket l ead er. We s t il l s t ri ve t o unde rs t and the i ns uran ce needs of t he cons um ers and t rans l at e i t i nt o a fford abl e product s t hat del i ver val ue fo r m oney. Vi s i on : To be t he fi rs t choi c e i ns urer for cus t om e rs . To be t he pre fer red em pl oye e for s t aff i n the i ns ur anc e i ndust ry. To be t he num ber one i ns urer for c reat i ng s ha rehol der val ue.
B ajaj All i an ze Li fe In s u ran ce • • Is the fas t es t growi ng pri vat e l i fe i ns urance com pany i n Indi a. C urrent l y have over 300000 s at i s fi ed cus t om ers .
Have Customer care centers in 156 cities with 28000 Insurance Consultant providing the
finest customer service.
B aj aj Al li anz General Ins urance C om pany Li m it ed i s a j oi nt vent ure bet ween B aj aj Aut o Li m it ed and Al l i anz AG of Germ any. Bot h enj oy a reput at i on of expert i s e, s t abi l it y and s t rengt h.
B aj aj Al li anz General Ins urance recei ved t he Ins urance R egul at ory and Devel opm ent Aut hori t y (IR DA) cert i fi cat e of R egi s t rat i on (R 3) on M ay 2 n d , 2001 t o conduct General Ins uranc e busi nes s (i ncl udi ng Heal t h Ins urance bus i nes s ) in Indi a. The C om pany h as an aut hori zed and pai d up capi t al of Rs .110 crores . B aj aj Aut o hol ds 74% and Al l i anz hol ds t he rem ai ni ng 26%. AG, Germ any.
In it s fi rs t year of operat i ons t he com pany has acqui red the NO. 1 s t at us am ong t he pri vat e non- li fe i ns urers . As on 31 s t M arch 2003, B aj aj Al li anze General Ins uranc e m ai nt ai ned i t s l eaders hi p posi t i on by garneri ng a prem i um i ncom e of Rs .300 C rores . B aj aj All i anze al s o becam e one of t he few com pani es t o m ake a profi t i n it s fi rs t ful l year of operat i ons . B aj aj Al l i anz m ade a profi t aft er t ax of Rs .9.6 crores .
B aj aj Al li anze t oday has a net work of 40 offi ces s pread acros s t he l engt h and breadt h of t he count ry. F rom S urat t o S li l i guri and J am m u to Thi ruvanant hapuram , al l the 38 offi ces are i nt erconnect ed wi t h the Head Offi ce at Pune .
In t he fi rs t hal f of t he current fi nanci al year, 2004-05, B aj aj Al li anz generat ed a p remi u m i n come of Rs .405 crores , achi evi ng a growt h of 84% and regi s t ered a 52% growt h i n Net profi t of Rs . 20 C rores over t he l as t year for the s am e peri od. In t he fi nanci al year 2003-04,
t he prem i um earn ed was Rs .480 C rores , whi ch i s a j um p of 60% and t he profi t zoom ed by 125% to R s . 21.6% C rores .
S ha reh old e rs & P romot ers
B ajaj Au to Li mi ted B aj aj Aut o Li m it ed is t he l arges t m anufact ur er of t wo and t hree- wheel ers i n Indi a and al s o one of t he l arges t m anufact ure rs i n the worl d. B aj aj Aut o has been i n operat i on for over 55 years . As a prom ot er of B aj aj Al li anz Gener al Ins urance Com pany Lt d., B aj aj Aut o has the fol l owi ng t o offer: Vas t di s t ri but i on net work. Kno wl edge of Indi an cons um ers . F i nanci al s t rengt h and s t abi li t y t o s upport t he i ns urance bus i nes s
All i anz i s now pres ent i n more t han 70 count ri es wi t h over 177. 743 bi l li on euros were as s et s m anaged for t hi rd part i es . F ounded i n 1890 i n B erl i n. wi t h it s head offi ce i n M uni ch.A ll i an z A G.
CO RE CO MPE T E NCI ES AT B AJAJ AL L I ANZ L I FE I NS URANCE
Trust C l ai ms Phi l os ophy Cus t omer Or i ent at i on Experienced and Expert Servicing Team • • S uperi or Technol ogy Uni que Form s of Ri s k C over
. Al l i anz's tot al revenues am ount ed t o s om e 100. At t he t op of t he i nt ernat i onal group i s the hol di ng com pany.26 t ri l l i on euros i n as s et s under m anagem ent . Of thi s . At the end of 2005 All i anz Group had m ore t han 1.
Al l i anz Group provi des it s m ore than 60 mi l li on cus t om ers worl dwi de wit h a com prehens i ve range of s ervi ces i n the areas of P ropert y and cas ual t y i ns uranc e. Ger m an y Allianz Group is one of the world's leading insurers and financial services providers.9 bil l i on euros .
In fi s cal year 2005. Al li anz AG. Li fe and heal t h ins urance. As s et m anagem ent and banki ng.000 em pl oyees .
Introduction of Topic
help employees to understand organizational goals. man has continuously assesses their capability with others. sample appraisals are also provided. which will block the whole purpose of the appraisal system. transfer and layoffs. This urge to do better has resulted in his continuously evolution which is vital for the growth of any business. Hence. It serves as a tool to determine the future of the organization and visualize the career growth of the employees. Performance Appraisal (PA) is one such tool to measure the performance of an employee.
Performance Appraisal (PA) is normally done by senior executives and the senior manager in the organization to appraise the employee for their performance and also to find out difficulties while meeting their goals. and to provide fast and effective feedback. This study report aims at covering all aspects related to performance. termination of services & the training and development to the employees in an organization. ltd. This study was conducted at bajaj allianz life insurance co. During this period of carrying out the process the appraiser faces the problem in rating the subordinate/employee/peer and sometime they may rate their subordinate wrongly. Employee performance appraisal is an effective way to determine the performance of the employees in an organization. The users found the system easy to understand and use and were more satisfied with the overall effectiveness of the system.
From user testing.
In order to make this report comprehensive. the traditional appraisal system found to be efficient in the issues like: it help to evaluate the true abilities of employees.Introduction of Topic
From immemorial time. new delhi
. promotions. Every organization has made it mandatory to have this appraisal done once in a year to measure their employee performance. there should be well-defined appraisal procedure which is properly used to evaluate employee’s performance.
The main focus of the study of this is to identify the areas in Performance Appraisal System that would help in the organizational development. Performance Appraisal (PA) is mainly used to determine the wage increase.
In order to
identify importance of the factors in determining.
. Business Development Executive).
qualifications and department in the company (Vice President. There is Vice President who has experience of work since 15 years in the organisation. The demographic characteristics of the respondent group were as follows. Business development executive who work experience of 0-1 years. Senior HR consultants. designation.The objective of the questionnaire was to obtain employees’ opinion on performance appraisal (PA) system in their organisation. their tenure with the organisation and total experience. asking their name.
Second part of the questionnaire consisted of “quantitative and qualitative statements”. Senior HR consultants who work experience of 1-5 years experience. The Structural questionnaire prepared for HR survey comprised of two parts: First part regards the “demographic” of the respondents.
Chapter 5 Scope & Objective
To know about the working scheme of the company.
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.OBJECTIVES OF THE PROJECT
The basic objectives of this project is:
To find out present performance appraisal system used in the company. To find about the employees views for the system adopted by the company to appraise their performance.
To suggest some measures for improving the methods to appraise
the performance of the workers.
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ment.nities for improvement and skills develop. in which the work performance of the subordinate is examined and discussed with a view to identifying weakness and strengths as well as opportu. appraisal results are used to identify the poorer perform. or in extreme cases .demotion. bonuses and promotions.ght restrict their capacity dismiss employees or decrease pay). to help determine reward outcomes. That is the appraisal results are used to identify the better performing employees who should get the majority of available merit pay increases. (Organizations need to be aware of laws in their country that mi.
Performance appraisal is used for :-
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.Whether this is an appropriate use of performance appraisal – the assignment and justification of rewards and penalties – is very uncertain and contentious matter. Performance appraisal helps to identify those who are performing their assigned tasks and those who are not and the reasons for such performance.
By the same token . that usually takes the form of a periodic interview (annual or semi annual).ers who may require some form of counseling .”
Performance appraisal may be defined as a structured formal interaction between a subordinate and supervision . dismissal or decreases in pay .Perfor man ce App rai s al
What is Performance Appraisal? “Performance appraisal is a systematic and objective way of judging the relative worth or ability of an employee in performing the task. either directly or indirectly.
In many organizations but not all appraisal results are used.
3.otion. This may be the case.
Identifying employees for salary increases . Establishing a basis for research and reference for personnel decisions in future. Motivating employees by indicating their performance levels. group leader.loyee’s job performance should seek input from individuals who do directly observe the employee (eg. tran. area co-ordinator.1. It’s the responsibility of department/unit heads and supervisors to prepare written performance appraisal and to conduct timely appraisal meetings. and other workers).
To enhance employee development through performance feedback and through the identification of future professional development activities.A crew leader. 3. promotion .munication between the employees and his/her supervisor. open and honest com. If a given supervisor should delay
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Who Should Conduct the Appraisal?
The individual (superviser) who has the authority to make hiring recommendations and to assign work to the employee should be the person responsible for completing the appraisal.
To provide a formal means of constructive. The performance appraisal syatem has three primary goals:-
1.ant leadership responsibilities.sfer and layoff or termination of services.
Determining training need for further improvement in performance. Supervsors who donot directly observe or otherwise measure the outcomes of a given emp. especially in larger departments/units.
Goals of the Performance Appraisal System :-
For supervisors. compensation and other personnel management decision. the process of performance management is one of the most import. 4.
To measure and document job performance as a basis for making prom.
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. Effective goals and objectives must be specified. the affected employee is encouraged to initiate such or may contact the Department of Human resources for assistance. measurable and reasonable and have a time frame.
The Performance Appraisal Process
The figure outlines the performance appraisal process. Each step in the process is crucial and is arranged logically.
Objective Performance A
Performance Standard and Goals Performance standards and goals are the basis from which employee performance is measured. The written
performance appraisal should reflect how well the employee performed against defined job responsibilities and
Design Appraisal P
previously established goals and objectives. Supervisors should use terms and descriptions. which have the same meaning to the supervisor and the employee.or neglect to conduct an appraisal.
Specific: .Objective and precise language is essential when developing performance goals and
objectives. Detailed points rather tan vague descriptions are important for understanding and documentation.
Goals and objectives should be written so that accomplishment or degrees of
accomplishment can be objectively measured.
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. Individuals may become discouraged and give up if perceive expectations to be unattainable.
Reasonable: . Goals and objectives should be reasonable given time frames.A specific period of time for accomplishment should be identified with each
goals and objectives.
Measurable: .Goals and objectives which are too high or rigid may actually inhibited an
employee`s performance. circumstances and departmental/unit expectations.
Time frame: .
above average.The term used to describe a meth. the evaluator reco.ctive behavior had been provided . or below average”.The term used to define a set of adjectives or descriptive statements.METHODS OF PERFORMANCE APPRAISAL:-
Terms used to describe the various type of rating systems as well as a definition or performance appraisal is as follows:
Behavioral Anchored Rating Scales :.
Critical Incident Technique :.the evaluator prepared a log for each employee.od of performance
appraisal that made list of statements of very effective and very ineffective behavior foremploye.list equaled the number of checks. Other variations were : 1. if not the ather left the item blank.rded examples of critical behaviors in each of the categories and the log has been used to evaluate the employee at the end of the evaluation period. The lists have been combined into categories . Behavioral expectations scale. rather than on broadly stated adjectives such as “average.
Checklists:.egories had been developed and statements of effective and ineffe.
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.Once the cat. 3. 2.The terms used to decribe a
performance rating that
focused on specific behaviors or sets as indicators of effective or ineffective performance . Doring the evaluation period . Numerically anchored ating scales. Behavioral observations scale. the rather checked the item . rating score from the check. which vary with job . If the rather
believed the emplotee possessed a trait listed.
Management by Objective:.The term used to define
the oldest and most widely used
performance appraisal method.
Narrative or Essay Evaluation:.avior. The evaluators are given a graph and asked to rate the employees on each of the characteristics can vary one to one hundred. Some companies still use this method exclu.as in others .tion relative to the evaluators rating.The term used to describe an appraisal system similar to grading on a
curve. the method has been combined with the graphic rating scale.This appraisal method has been developed to prevent evaluators from
rating employees to high. effectiveness index. The evaluator had been asked to rate employees in some fixed distribution of categories. The rating can be a matrix of boxes for the evaluator to check off or a bar graph wh-ere the evaluator checked off a loca.rmance appraisal method
has the supervisor and employee get tog. where.
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Graphic Rating Scale:. One way to do this has been to type the name of each employee on a card and ask the evaluators so sort the cards into piles corresponding to rating.This appraisal method asked the evaluator to describe
strengths and weakness of an emplyee`s beh.The management by objectives perfo. Using this method. the evaluator has to select from a set of descriptive statements that apply to the employee.
Forced Choice Method: .sively . The statements have been weighted and summed to at.
Forced Distribution:.ether to set objectives in quantifilable terms.
Feedback to the employee regarding how the organization viewed the employee`s performance. separation and transfer decision.tive statements about effective and ineffective behavior on jobs.
Purpose of Traditional Performance Appraisal Performance appraisal for evaluation using the traditional approach has served the following purposes:-
Promotion .ative method
appraisal where the supervisor has been asked to order his or her employees in terms of
performance from highest to lowest. Typically the criterion has been the employees over all ability to do the present job.ed.The term used to describe an appraisal method for taking employee. so that each person has been compared with all other employees to be evaluated.
Weighted Checklist :.
Paired Comparison :.ated have been placed on separated sheets in a predetermined order .The term
been used to describe an altern.
Ranking :. The evaluator then checks the person he or she felt had been the better of the two on the criterion for each
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. Evaluations of relative contributions made by individuals and entire departments in achieving higher level organization goals.iliar with the jobs being evaluated prepared a large list of descrip. The number of tines a person has been preferred is tallied and the tally developed is index of the number being evaluat.The term used to describe a performance appraisal method where
supervisors or personnel specialists fam. First
the names of the employees to be evalu.
meaningful or comprehensive consideration of performance goals. The development approach contained all of the traditional overall organizational
performance appraisal purposes and the following additional purposes:
Provided employees the opportunity to formally indicate the direction and level of the employee`s ambition. promotions and other rewards.
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Performance appraisal is usually tied to the employees` salary reviewed.
Information upon which work scheduling plans.
Developmental Performance Approach Purposes
The developmental approach to performance appraisal has been related to employees as individuals. The flaws are:
Organizational performance appraisal is typically primarily concerned with the past rather than being forward looking through the use of setting objectives or goals. development and human resources planning. Ascertaining and diagnosing training and development decisions
Criteria for evaluating the success of training and development decisions. Reward decisions . This approach has been concerned with the use of performance appraisal as a contributor to employee motivation. Criteria for evaluating the effectiveness of selection and placement decisions including the relevance information used n the decision with in the organization. Dealing with salary generally overwhelmed and block creative. budgeting and human resources planning can be used.
Two serious flaws in the traditional approach in the performance appraisal exist. including merit increases .
Determine what kind of development activities might help the employee better utilize his or her skills improve performance on the current job. 2. Show organizational interest it employee development . This definition refers to the evaluative standards. tangible standards of performance are difficult to specify.
Irrespective of the level by and large most companies use eleven performance measures: 1. Coach the employee on how to achieve job objectives/requirements. Communicate management`s expectations regarding employee performance. Diagnose the employee`s strengths and weaknesses.
Provided a structure for communications between employees and management to help clarify
expectations of the employee by management and the employee. Quantity of work Quality of work
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. which measures are easy if the job is clearly defined but difficult if it is broad. Provide feedback to employee about job performance in light of management`s objectives. At lower level of an organization there are specific jobs and certain tangible and objective standards of performance can be identified. jobs become more complex and clear-cut.
Expectation from a Manager doing a Performance Appraisal The following is typically expected from company manager when doing performance appraisal: Translate organizational goals into individual job objective. Problem of criterion
A brand definition of criterion is “that which is to be predicated”. Further up in the hierarchy.which was cited to help the enterprise retain
ambitious . capable employees instead of losing the employees to competitors.
Provide satisfaction and encouragement to the employee who has been trying to perform well.
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. 8. 6. Judgment by peers 11. 5. 4.3.
Waste and brokerage Money earned Job knowledge Job tenure Absenteeism Rate of advancement Self judgment
10. Judgment by supervisors. 9. 7.
department and the City in relation to the employees` work expec. Use the results as a basis for appropriate personnel actions.vior. develop professionally and perform at their maximum potential.ance. Evaluations also develop employee’s potential through training and counseling.Instructions for using performance appraisal system
The performance evaluation system is used to evaluate employees past work performance.
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. Provide an employee improvement plan where performance is rated below standard. The process is designed to be interactive between the employee and the superv-isor with the following objectives in mind:
Use to recognize and reward employees for positive work beha. support team endeavors.tation Involve employees in improving their effectiveness and perform. Communicate and clarify the goals and objectives of the division. Encourage employees to continuously improve. develop a work plan for the next review period and determine what resources are needed for improving performance to become more effective.
which may be for shorter periods of time. Use N/A if the rating criteria are not applicable.ce) and not during the annual performance review.
Supervisor Responsibility :
Each department will conduct employee evaluations for all employees in the department during the same month. The evaluation periods are generally twelve months. expect for special evaluations. annual evaluation and special evaluation for reg -ular full time and regular part time employees.
There are two performance evaluation forms which you will always use:
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.nce criteria and list specific examples. Supervisors should provide written comments on the evaluation form for each performa. Merit step increases are conducted on the employees` anniversary date (assuming satisfactory performan. Upon completion of the evaluation form by the supervi. At that time. This includes probationary evaluations ( expect Police and Fire have their own process). Supervisors shall coordinate the discussion of performance evaluations with employees in a manner that allows privacy. the rating criteria definitions and familiarize him or herself with the procedure prior to competing the evaluations. Each supervisor completing the performance evaluation should review the following instructions.Performance Evaluation System :
The performance evaluation form is used for all performance reviews. then the rater will meet with the completed form for signatures. The supervisor shall have the employee to complete the Self
Performance Evaluation Form as a discussion tool. The supervisor is responsible for completing the evaluation process at the beginning of the rating period and again at 6 month to monitor progress and adjust time lines if necessary. a new 12-month work plan is established with the employee and the process repeats itself.sor (rater) and the reviewer (one level above the rater). Human resources will notify department heads 30 days prior to when evaluations are due.
guidance on improvement. The Employee Self-Evaluation form.
There are two other forms you may need to use:
The Performance Improvement Plan form (used when a rating is #1 Unacceptable or #2
Improvement needed). and a follow up evaluation to monitor progress. a specific timetable for improvement.
Signature On The Evaluation Form
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. and attached to Performance Evaluation form. The actual performance evaluation form which includes the cover page called the Summary Worksheet. Performance Goals form (used by department to follow up mid-year on goals set in
evaluation). including specific examples. optional and not returned to Human Resources.
Rating Process And Criteria :
5 = outstanding performance 4 = exceed expectations 3 = meet expectations 2 = needs improvement 1 = unacceptable
A rating of 1 or 2 requires the supervisor to complete a Performance Improvement Plan form to document the problem.
If possible. or a Division Manager.
Evaluation When A New Supervisor is Appointed :
If the employee has an evaluation due and supervisor is appointed. Deputy Director. both the supervisor and employee sign the form. The next level of review is the Reviewer. the supervisor that is leaving will do a close out evaluation for his/her employees prior to leaving.After the supervisor completes the performance evaluation with the employee. the new supervisor likely has not had the opportunity to properly evaluate the employee`s performance. the reviewer could be the Department head.
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. The mid-year review will only involve the employee and his/her supervisor with their signatures and the mid-year process does not go into the personnel file. one level above the supervisor performing the evaluation (the rater). In this instant the new supervisor will evaluate the employee after 90 days. Depending on the Department structure.
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.The supervisor shall also retain a computer copy/file copy for the midyear review process. Managers/supervisors have 30 days to complete the performance evaluations.
If the employee does not want to complete the form. Written comments are required and should include examples that support the rating the specific job element. (Individual employees do not amend their job descriptions. this task is for the manager)
Step 4: Self evaluation form: provide a copy of the self evaluation form to the employee. If there are increased responsibilities /scope of work or a change in qualifications forward your edits to human resources for review.Steps to complete the annual performance evaluation procedure:
Step 1: Notice to department heads: human resources will notify department heads 30 days prior to when performance evaluations are due for full time and part time regular employees in their department. If a section does not apply note N/A for not applicable.
Step 5: Complete the performance evaluation rating forms: The managers /supervisors complete each section in performance evaluation forms (page 2-3plus). This completed form is used as a tool for discussion while the supervisors is completing the employees’ evaluation . he/she shall check the box and sign at the bottom of the form and return it to the supervisors .
Step3: Review job description. Minor differences in workload or added assignment that are industry or technology changes do not require a change to the job description. obtain signature and provide the original the human resources office for filling in the employees personnel file . review the employee’s job description to see if any changes are necessary. Human resources will remind supervisors to schedule probationary evaluations on their calendar.
Step 2: Blank performance evaluation forms: managers/supervisors obtain the performance evaluation forms.
Note in the event the employee does not improve.
Step 6: “Unacceptable or Improvement Needed” Rating: If y rate an employee with a “1” Unacceptable or “2” Improvement needed. managers. Section6 is only for department heads. you must complete the performance improvement plan form. Next. This is done last and is and over all rating considering all the rating sectors. This list achievable goals and projects as well as areas to improve upon. customer service and quality/quantity of work) apply to all positions. For section 4(Attendance).
The performance goal forms(optional based on department head discussion is a departmental tool used during the midyear review o monitor progress. supervisors and lead workers. scheduled time away from the job and use of breaks. Have this completed form reviewed by the department head and Human Resources prior to presenting it to the employee. Next.3(Technical knowlwdge. completion date or makes comments concerning the goals. keep goals to a realistic number (3 to 5) and ones that are achievable we all have a tendency to put down more goals that we can reasonably achieve. Documentation is critical for this type of rating. Section5 (Safety and Risk management) applies to all jobs and should include notice of any accident. equipments usage or other safety related issues. complete the section work plan for the next rating period completion date. This form is used to document performance and behavior problems that need corrective action. the documentation is important for corrective action.
Also some employees in entry level job may have only 1 or 2 goals or a training course to complete during the review period the supervisor should used their judgment and discussion their employees to arrive at goals for the work Plan . injuries. the supervisors should review the employees attendance record. complete the training and development section. The notice of “Improvement Needed” or “unacceptable” rating must include:
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. The raters the complete the summary worksheet cover pages for the evaluation form.
merely review their performance. the manager or supervisor will meet with the employee to review his/her progress.
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. counseling and coaching. goals and deadlines with the employee. This does not require any new information to be prepared. feedback).
Step 7: Mid-year Review: Mid-point through the 12-month rating period. At this step. Provide assistance to help them achieve the performance standards (training. closer supervision.• • • •
The problem areas of performance that are determined to be unacceptable. Provide a reasonable period of time demonstrate improved performance.
A rating of #1 shall be reviewed and approved by the department head before being communicated to the employee. this time line does not preclude immediate disciplinary action at any time by department head if the employees` performance worsens during the rating period. However.
Communicate with employee of the consequences if their performance does not improve and provide a deadline. such as 30-90 days for a follow up review. you may adjust the deadlines as necessary. Identify performance standards that must be achieved to meet acceptable standards.
Standards of performance are usually:
Developed in collaboration with the employees who do the tasks or functions. the performance standard defines how well each function or task must be performed in order to meet or exceed expectations.
Job Description & Essential Functions Strategic Plan & Annual Goals ⇓ Standards of Performance ⇓ Observation & Feedback ⇓ Performance Appraisal ⇓ Performance Development
The performance standard provides a benchmark against which to evaluate work performance. Performance standards are developed collaboratively with employees. Explained to new employees within the first month on the job. The University also establishes general criteria for evaluating work performance. While the job description describes the essential functions and the tasks to be done.
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.Standard of Performance
Standards of performance are written statement describing how well a job should be performed. whenever possible and explained to new employees during the first month on the job.
“How will the employees and the performance manager know when the employee is meeting or exceeding expectation for his or her position?”
Guidelines for Performance Standards
Keep in mind the following guidelines when writing your performance standards:
Performance standards should be related to the employees` assigned work and job requirements.The rating describes the level of performance of the individual employee compared to a job description and standard of performance. which reports to you so that you can fairly evaluate the employees` performance.
Performance Standards a answer the question.
E =Exceptional : Performance well exceeds expectations and is consistently outstanding.
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. At the beginning of the appraisal period. U = Unsatisfactory: Performance is consistently below expectations. I = Improvement Needed: Performance does not consistently meet expectation. review these ratings and the performance standards for each position. A = Above Expectation: Performance is consistently beyond expectations. you will use these criteria to rate the employees` performance.
As performance manager. Deficiencies should be addressed as noted in the performance appraisal. Your reporting system should be adequate to measure and report any quantitative data you list. S = Solid Performance: Performance consistently fulfills expectations and at times exceeds them.
check them against the questions in the following list:
Are the standards realistic? Standards should be attainable and consistent with what is necessary to get the job done. quality and quantity.
Are standards specific? Standards should tell an employee exactly which specific action and results he or she is expected to accomplish. process redesign or public service. such as cost-control. Recognizing performance that is above expectation or outstanding is crucial to motivating employee.
Are the standards clear and understandable? The employees whose work is to be evaluated on the basis of the standards should understand them.•
Quantifiable measures may not apply to all functions. improved efficiency.
Are the standards based on measurable data.
Are the standards consistent with organizational goals? Standards link individual (and team) performance to organizational goals and should be consistent with these goals.
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. Standards should use the language of the job.
Accomplishment of organizational objectives should be included where appropriate. productivity.
Are the standards challenging? Standards may describe performance that exceeds expectations.
Checking Your Standards
After you have written your performance standards. project completion. cost. represent the minimum acceptable level of performance for all employees in that position. which meets expectations. or verifiable information? Performance can be measured in terms of timeliness. observation. Standards for performance. Describe in clear and specific terms the characteristics of performance quality that are verifiable and that would meet or exceed expectations.
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. operations or experiences change. standards should evolve. technologies.•
Are the standards dynamic? As organizational goals.
development resources. performance logging. etc. geared towards the business environment is MINDSOLVE (MVP).
Performance now Enterprise is a software tool for logging events. but are having trouble following up on those goals.
Other software such as The Administrative Observer for school systems is one of the more configurable stand-alone database package. Flexible enough to adapt to your present review system. For a little more upscale package Performance Impact Workplace is easy to use to set goals for employees.
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. Since the advent o the use of computers. MVP is designed as an enterprise level performance management software. with an intuitive graphic interface. While the use of configurable software based tools are certainty making life easier.
Performance now helps you become a better manager and get the best from your employees.Use of Books and Software for Performance Appraisals
There are number of low cost paperbacks that can b handed out to the managerial staff to help them with their appraisals. tracking goals. a number of educational organizations are now using Performance Appraisal software. 360 degree feedback. the use of such tools are much more valuable. providing effective feedback and writing employee reviews that maximize the potential of your team. incorporating appraisal.
Introduction of Insurance
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Creating a more efficient and competitive financial system suitable for the requirements of the economy was the main idea behind this reform.INTRODUCTION The Insurance sector in India governed by Insurance Act. 1972. The key element of the reform process was Participation of overseas insurance companies with 26% capital. the Life Insurance Corporation Act.
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. The entry of the private players and the increased use of the new distribution are in the limelight today. This is an indicator that growth potential for the insurance sector is immense in India. Today it stands as a business growing at the rate of 15-20 per cent annually. It was due to this immense growth that the regulations were introduced in the insurance sector and in continuation “Malhotra Committee” was constituted by the government in 1993 to examine the various aspects of the industry.The competition LIC started facing from these companies were threatening to the existence of LIC . With such a large population and the untapped market area of this population Insurance happens to be a very big opportunity in India.In spite of all this growth the statistics of the penetration of the insurance in the country is very poor. Together with banking services. it adds about 7 per cent to the country’s GDP .since the liberalization of the industry the insurance industry has never looked back and today stand as the one of the most competitive and exploring industry in India. Insurance Regulatory and Development Authority (IRDA) Act. The use of new distribution techniques and the IT tools has increased the scope of the industry in the longer run. 1956 and General Insurance Business (Nationalisation) Act. Since then the insurance industry has gone through many sea changes . 1999 and other related Acts. 1938. Nearly 80% of Indian populations are without Life insurance cover and the Health insurance.
245 Indian and foreign insurers and provident societies taken over by the central government and nationalised.
The General insurance business in India. viz.HISTORY OF INSURANCE SECTOR The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. Some of the important milestones in the general insurance business in India are given in the table 2. Some of the important milestones in the life insurance business in India are given in the table 1. can trace its roots to the Triton Insurance Company Ltd. on the other hand.
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. LIC formed by an Act of Parliament. 1956.
Table 1: milestone’s in the life insurance business in India
Year 1912 1928 1938 1956
Milestones in the life insurance business in India The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public.. 5 crore from the Government of India. the first general insurance company established in the year 1850 in Calcutta by the British. with a capital contribution of Rs. LIC Act.
Table 2: milestone’s in the general insurance business in India Year 1907 1957 1968 1972 Milestones in the general insurance business in India The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. The General Insurance Business (Nationalisation) Act, 1972 nationalised the general insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.
Indian Insurance Market – History
Insurance has a long history in India. Life Insurance in its current form was introduced in 1818 when Oriental Life Insurance Company began its operations in India. General Insurance was however a comparatively late entrant in 1850 when Triton Insurance company set up its base in Kolkata. History of Insurance in India can be broadly bifurcated into three eras: a) Pre Nationalisation b) Nationalisation and c) Post Nationalisation. Life Insurance was the first to be nationalized in 1956. Life Insurance Corporation of India was formed by consolidating the operations of various insurance companies. General Insurance followed suit and was nationalized in 1973. General Insurance Corporation of India was set up as the controlling body with New India, United India, National and Oriental as its subsidiaries. The process of opening up the insurance sector was initiated against the background of Economic Reform process which commenced from 1991. For this purpose Malhotra Committee was formed during this year who submitted their report in 1994 and Insurance Regulatory Development Act (IRDA) was passed in 1999. Resultantly Indian Insurance was opened for private companies and Private Insurance Company effectively started operations from 2001.
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Insurance Market- Present:
The insurance sector was opened up for private participation four years ago. For years now, the private players are active in the liberalized environment. The insurance market have witnessed dynamic changes which includes presence of a fairly large number of insurers both life and non-life segment. Most of the private insurance companies have formed joint venture partnering well recognized foreign players across the globe.
There are now 29 insurance companies operating in the Indian market – 14 private life insurers, nine private non-life insurers and six public sector companies. With many more joint ventures in the offing, the insurance industry in India today stands at a crossroads as competition intensifies and companies prepare survival strategies in a detariffed scenario.
There is pressure from both within the country and outside on the Government to increase the foreign direct investment (FDI) limit from the current 26% to 49%, which would help JV partners to bring in funds for expansion.
There are opportunities in the pensions sector where regulations are being framed. Less than 10 % of Indians above the age of 60 receive pensions. The IRDA has issued the first licence for a standalone health company in the country as many more players wait to enter. The health insurance sector has tremendous growth potential, and as it matures and new players enter, product innovation and enhancement will increase. The deepening of the health database over time will also allow players to develop and price products for larger segments of society.
State Insurers Continue To Dominate There may be room for many more players in a large underinsured market like India with a population of over one billion. But the reality is that the intense competition in the last five years has made it difficult for new entrants to keep pace with the leaders and thereby failing to make any impact in the market.
Also as the private sector controls over 26.18% of the life insurance market and over 26.53% of the non-life market, the public sector companies still call the shots.
The country’s largest life insurer, Life Insurance Corporation of India (LIC), had a share of 74.82% in new business premium income in November 2005.
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Similarly, the four public-sector non-life insurers – New India Assurance, National Insurance, Oriental Insurance and United India Insurance – had a combined market share of 73.47% as of October 2005. ICICI Prudential Life Insurance Company continues to lead the private sector with a 7.26% market share in terms of fresh premium, whereas ICICI Lombard General Insurance Company is the leader among the private non-life players with a 8.11% market share. ICICI Lombard has focused on growing the market for general insurance products and increasing penetration within existing customers through product innovation and distribution.
Reaching Out To Customers No doubt, the customer profile in the insurance industry is changing with the introduction of large number of divergent intermediaries such as brokers, corporate agents, and bancassurance.
The industry now deals with customers who know what they want and when, and are more demanding in terms of better service and speedier responses. With the industry all set to move to a detariffed regime by 2007, there will be considerable improvement in customer service levels, product innovation and newer standards of underwriting.
Intense Competition In a de-tariffed environment, competition will manifest itself in prices, products, underwriting criteria, innovative sales methods and creditworthiness. Insurance companies will vie with each other to capture market share through better pricing and client segmentation.
The battle has so far been fought in the big urban cities, but in the next few years, increased competition will drive insurers to rural and semi-urban markets.
Global Standards While the world is eyeing India for growth and expansion, Indian companies are becoming increasingly world class. Take the case of LIC, which has set its sight on becoming a major global player following a Rs280-crore investment from the Indian government. The company now operates in Mauritius, Fiji, the UK, Sri Lanka, Nepal and will soon start operations in Saudi Arabia. It also plans to venture into the African and AsiaPacific regions in 2006.
The year 2005 was a testing phase for the general insurance industry with a series of catastrophes hitting the Indian sub-continent.
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However, with robust reinsurance programmes in place, insurers have successfully managed to tide over the crisis without any adverse impact on their balance sheets.
With life insurance premiums being just 2.5% of GDP and general insurance premiums being 0.65% of GDP, the opportunities in the Indian market place is immense. The next five years will be challenging but those that can build scale and market share will survive and prosper.
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a) Statement of the Problem Every business organization large or small spend huge amount of money on Human Resource. Sample Size: 20 Employees Respondents Tool for collection of Data: Structured questionnaire is used to collect the data. b) Types of ResearchThere is social research in a HR Survey with particular reference to Performance Appraisal as a System for employees at BAJAJ ALLIANZ LIFE INSURANCE Sample Design: It is random sampling techniques where the samples were designed based on the nature of work. qualification.
Method of Collecting Data: The questionnaires were floated to respondents through Researcher where the data was collected and returned by HR Unit. The collected data were tabulated
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. It may be to develop the employees or to correct the employees or to utilize employee’s strength. etc. experience. Copy of questionnaire is placed at the Annexure of the project report.
This study is directed towards probing Performance Appraisal system as tool for employees at BAJAJ ALLIANZ LIFE INSURANCE. It is necessary therefore to find out how they are performing in order to design their future of the organization. Method of Analysis: 1.
3. Definitive evaluation is made every data is clear. 4.
Percentage of respond was worked out Analysis is based on percentage frequency Weight age is given to high percentage in response factor Evaluation is made based on the analysis and the presumptions inherences are used. 5. where every data is ambiguous.2.
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Chapter 7. Data Analysis & Interpretation
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Although they may be expressed differently for different jobs. the basic areas of measurement for all jobs are quality. employees and managers set expectations and prepare plans for work and development at the beginning of the year. and the criteria/standards for the performance measurement are prescribed and clarified. The key responsibilities and results (KRRs) dimensions and behavioral expectations. The supervisor uses discretion to schedule informal feedback based on individual employees’ needs. To ensure that all employees receive feedback for maintaining or improving productivity. the results should be quite interesting to mangers who would like to think critically and seek ways to improve performance appraisal systems in organizations
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Although a case study with a limited number of respondents cannot be widely generalized. Analysis and Discussion-
Present Appraisal System Feedback In this system. two documented semiannual feedback sessions are required. cost and timeliness.
To carry out any Project Study personal data needs detailed analysis because it is basic foundation to understand correct profile of respondent. Age Group 21-30 31-40 41-50 Total No. of Respondents 14 2 4 20 Percentage 70 10 20 100
From the above data indicates that 70% of respondents are of 21-30 age group. Educational background to understand the topic of the study so that they can be related age. 10% of respondents are of 31-40 age group and 20% of respondents are of 41-50 age group.
Gender Male Female Total
No. This shows their knowledge. of Respondents 12 8 20
Percentage 60 40 100
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.Part A: Personal Data 1. mental status and maturity.
of Respondents 2 6 12 20 Percentage 10 30 60 100
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.The above data indicates that 60% of respondents are male. rest 40% of respondents are female.
QualificationQualification Diploma Graduate Post Graduate Total No.
In the above data. 30% of respondents are graduates and rest 60% of respondents are post graduate. it is seen that 10% of respondents are diploma in qualifications.
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Is the Performance Appraisal process user friendly? a. of Respondents 4 10 4 2 20 Percentage 20 50 20 10 100
From the above data.
Part B: Research Data 1.DesignationDesignation Manager Officer Junior Officer VP Total No. of Respondents 16
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No. 20% of respondents are junior officer and 10% of respondents are VP in post. 50% of respondents are at officer post. it is seen that 20% of respondents are Managerial post. Yes b. No
It gives an opportunity to the employee to accept or decline. It also provides a consolidated view.
20% of the respondents are disagreed to the statement It is a very easier tool. where employee can fill in short time.
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. improvement areas and also captures training courses recommended. It is very flexible. It captures an individual’s strengths.2 Total
Respondents and Responses80% of the respondents are agreed to the above statement It is user-friendly and easily accessible within the organization.
S. Yes b. 1 2 Total
Options Yes No
No.No. of Respondents 12 8 20
Percentage 60 40 100
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Is Performance Appraisal conducted on time? a.
As an employee need to know what is required of them in order to work effectively by this.
Respondents & Responses60% of the respondents agreed to the above statement Performance Appraisal process will start on time. Process Cycle should be reduced because there is always delay due to the respective owners of the employee. There is a fixed schedule to meet listed in detail at the beginning of the process. Process will be conducted as per the appraisal period.
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. The steps involved in the process are very long as a result.
40% of the respondents disagreed to the statement Process end will take long time and unintentionally however measuring quality issues do cause delays.
S. 1 2 Total
Options Yes No
No. Yes b. of Respondents 16 4 20
Percentage 80 20 100
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Does Performance Appraisal process assess fairly? a.
The metrics are adequate. 360 feedback systems should be there. There is an element of subjectivity. The presence of Appraiser and reviewer is aimed at eliminating the subjectivity.Respondents & Responses80% of the respondents agreed to above statement The process assessment is fair and justified with business units. Measuring an individual is fair.
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20% of the respondents disagreed to the statement Across Business units does not yield right results. It is objective process. There are some issues with performing employees not getting proper result of the appraisal.
No.4. 1 2 Total
Options Yes No
Is Performance Appraisal process simple to understand? a. No
S. of Respondents 17 3 20
Percentage 85 15 100
Respondents & Responses90% of the respondents agreed to the above statement
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. Yes b.
10% of the respondents disagreed to the statements A Performance Appraisal tool should be kept as simple as possible while meeting objectives. of Respondents 12 8 20
Percentage 60 40 100
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. 1 2 Total
Options Yes No
Do you receive an orientation on how to conduct appraisal process? a. It clears to express as individual his strength and capacity. A Performance Appraisal tools should be based on assessment of work quantity. Yes b. quality. No
S.No. and knowledge of job but not personality. It gives an opportunity to show case his achievement. Process cycle time has to be reduced.
It is simple to understand and follow pre-process. It helps to understand the required capacity to meet requirements.
Respondents & Responses60% of the respondents agreed to the above statement Detailed orientation is given to all levels at the beginning of the process.
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40% of the respondents disagreed to the statement Sometimes process will be failed due to some internal problems after getting orientated on the Performance Appraisal system. Various training programs are available and discussed with superiors.
1 2 Total
Options 1 hour 2 hour
How much time is spent in preparing for feedback session? a.No.1 hour. of Respondents 8 12 20
Percentage 40 60 100
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improvement areas and training & development. It is necessary to know the earlier manager’s feedback on the employee to assess properly. There different process and have their strengths or improvement plans throughout the year. 1 2 3 4 Total
Options Excellent Good Average Poor
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60% of the respondents agreed to 2 hours statement Approximately 2 hours.Poor Percentage 50 30 20 100
S. In the Performance Appraisal system no records/data are available of confirmation appraisal and project end appraisal.Average No.No.Respondents and Responses40% of the respondents agreed to 1 hour statement More time will be spent if one employee worked under different managers for different assignments.
In your opinion how is overall Performance Appraisal system in “BAJAJ ALLIANZ LIFE INSURANCE”? a. His/her strengths. 1 hour need to have things documented on how an employee has been appraised. Feedback session involved revision of individual’s accomplishments during the appraisal period.Good c. Excellent b. of Respondents 10 6 4 20 d. 1 hour for collecting feedback and brainstorming and 1 hour for filling Review.
The above data predicts that the present appraisal system status in the company where 50% of the employees responded to be excellent. of Respondents 14 6 20
Percentage 70 30 100
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8. Thus the majority of respondents have viewed their opinion that the present appraisal system is good.
a) Are you satisfied with the current Appraisal system? a. and 20% responded as average i. No
S.e.No. just satisfied. Yes b. 1 2 Total
Options Yes No
No. 30% respondent to be good.
It helps us to understand the required capacity to meet requirements. It is clear to express as individual his strength and capacity. It gives an opportunity to show case his achievement.Respondents and Responses70% of the respondents agreed to the above statement
It is simple to understand and follow pre process. salary revisions can be dealt during annual appraisal. Promotion.
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30% of the respondents disagreed to the statement
Suggested by some managers to have half yearly appraisal system.
keeping employees known of peer strength and improvement areas.
Confirmation appraisal and project end appraisal process needs to be automated. In the process of performance appraisal cross business unit appraisal process should be smoothened. Performance Appraisal should be subject to regular evaluation and review.
Half yearly appraisal will help in motivating.
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1 2 Total Options Time Process b. b) If not then what are the areas need to be improved? a. 65% need to change the process of performance appraisal.8.
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. of Respondents 7 13 20 Percentage 35 65 100
The above data predicts that 35% of the respondent need to change the duration of PA system and rest of the 13 respondents i. Time S.e.No. Process No.
of Respondents 4 16 20
The above data indicates that 80% of the respondents feels no difficulty while handling performance appraisal system while the rest of the 20% of the respondent feels little difficulty. Yes b.
Do you feel any difficulty in handling them? a.
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.No. No Percentage 20 80 100
S.9. 1 2 Total
Options Yes No
10.e. Web based appraisal system No.No.
Present Appraisal System Satisfaction LevelParticulars Good Satisfactory Respondents 12 6 Percentage 60 30
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. 40% and the rest 20% of other needs to include Critical incident Method. Critical Incident method Options c. b. of Respondents Percentage
MBO Critical Incident Method
Web based appraisal system
The above data indicates that equal percentage of respondent need to add MBO as well as Web based appraisal system in their organization i. What other process can be included making the appraisal process much better? a. MBO S.
Efficiency of the present appraisal system in employee developmentParticulars Yes No Total Respondents 16 4 20 Percentage 80 20 100
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. just satisfied and the remaining 10% are not satisfied and who have not responded as poor. 30% responded to satisfactory i. the majority of the respondents have viewed their opinion that the present appraisal system is good.Poor Total
The above data indicates the present appraisal system status in the company where 60% of the employees responded to good. Thus.e.
The above data shows that 80% respondents are accepting that Performance Appraisal has aimed at development of the employee. most of the respondents are agree that Performance Appraisal is aiming to the career development of the employee. Hence. and only 20% of them disagreed to the present system.
Present Appraisal system in setting work targetsParticulars Yes No Total Respondents 14 6 20 Percentage 70 30 100
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The above data reveals that possibility of setting targets for the different jobs they do under different department. majority of respondents have agreed the possibility of setting work targets. 30% respondents have said no for the qualitative and creative jobs they do. 70% respondents have said yes for the job they do.
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. The target for the job they do even though every job needs certain degree of creativity which depends upon the nature of job.
no discussion is made on achievement. Thus. 15% agreed that they get genius feedback on evaluation.e. 10% said only failures are discussed.Actions taken after Performance AppraisalParticulars Useful discussions No discussions Only failure are discussed Genius Feedback is given Total Respondents 11 4 2 3 20 Percentage 55 20 10 15 100
The above data shows actions taken after the Performance Appraisal by the appraiser the management 55% respondents of them reported they take up useful discussions on the evaluation and results. 4 of them i. 20% have denied and says no discussion. majority of respondents told they are useful discussions with appraiser after performance appraisal.
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Therefore.Availability of feedback in Performance Appraisal systemParticulars Yes No Total Respondents 17 3 20 Percentage 85 15 100
The above data distributes whether the present appraisal system is used in getting the feedback from the employees. 85% respondents told the present appraisal system helps in giving the feedback from the employees and only 15% respondents told the existing appraisal system is not helping in getting proper feedback from the employees.
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. majority of the respondents are accepting that the present appraisal system help in getting feedback from the employees.
List of Findings
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A Performance Appraisal system tools should be kept as simple as possible while meeting objectives.Key findings-
The following key findings are found while performing HR survey for identifying the impact of Performance Appraisal (PA) system:
BAJAJ ALLIANZ LIFE INSURANCE follows two types of Appraisal process . A Performance Appraisal system tools should be based on assessment of work performance not personality. Performance Appraisal process will start on time and process will be conducted as per the appraisal period. improvement areas & also captures training courses recommended. It is objective process.
Feedback is given to the employees about their performance. It helps to understand the required capacity to meet requirements. There are some issues with performing employees not getting proper result of the appraisal. Process is clear to express as an individual his strengths and capacity. measuring an individual is fair but the metrics are inadequate. Promotions schemes exist in the organization according to the employees’ performance. There is a fixed schedule to meet listed in detail at beginning of the process. Detailed orientation will be given at all level at beginning of the performance appraisal process.
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Across business units does not yield right results. It captures an individual’s strengths.
It gives an opportunity to show case his achievement. The process assessment is fair and justified with business units.Graphic Rating Scales and Behaviorally Anchored Rating Scaling (BARS) which is user-friendly and easily accessible within the organization.
Various training programs are available and discussed with superiors.
Feedback session involved revisions of individual’s accomplishments during the appraisal period.
Performance Appraisal should operate equitable throughout the organization.
More time will be spent if one employee worked under different managers for assignments.
Sometimes process will be failed due to some internal problem after getting orientated on the performance appraisal system.
By this employee can discuss ideas.
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It will clarify organizational goals and expectations.
It will decide upon future work requirements and objectives.
In Performance Appraisal includes Quantitative and qualitative measures.
It provides a mechanism for improving communication between workers and
superiors. comments and suggestions.
Performance Appraisal should be developed and implemented in consultation with employees and superiors.
It is necessary to now the earlier manager’s feedback on the employee to assess properly. His/her strengths. improvement areas and training and development.
Develop an action plan for indentifying strategies which will make it possible for the employees to achieve the objective discussed.
salary revisions can be dealt during annual appraisal.
Review and reset of the task is not made uniformly.
Majority of the executives give reasons for not completing their targets.
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Group work and team work exist in an organization.
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training need identification and for promotions. his ability to learn. As such is has become all the more important that a supervisor makes all out effort to understand emotional world of the subordinate in terms of his hindering and facilitating factors in terms of achieving his goals. While discussing of the process & effort we need to focus on the leadership style. What I have personally observed that it charges the motivation level of an individual considerably and in fact the employee makes all out effort to achieve the Organizational goals. and his overall orientation for subordinates development.
No Doubt without the commitment of the top management it would just be very difficult to bring this sort of change. what is happening on his family front. what help the person growth and his own ambition in the next 3-4 years.
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. Application of performance and bringing about better performance management practices that enables organization to improve their performance and bring in a performance driven culture is the need of the hour rather performance appraisal only.Conclusions-
Most of the time Performance Appraisal (PA) for determining compensation increases.
In this era where every individual is competing with each other and where very tight schedules are drawn without much scope for slippages. For this what can be done is that once in a month an effort can be made by the supervisor to sit his sub-ordinate to sit with his subordinate and have a face to face interaction in a non threatening atmosphere. there is every probability that conflicts are going to become a common affair. his approach of consulting others. All this really calls for a different ball games wherein the concerned supervisors are able to emphasize with his sub-ordinates and is really above to understand his emotional world. his effort in planning his days and week. The Performance Appraisal has delinked itself from being an instrument of evaluating performance in the organization. his approach as a team member.
All this shall only happen if the sub-ordinate is able to see value and a genuine concern in all this. This in fact calls for a cultural change where in emphasis is not only given to the Outcome or the end result but also on the process and effort made to achieve the result.
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Recommendations Though the employees feels that the company is fair in its appraisal process but still has lot to in terms of making the appraisal process effective so that it results in enhanced employee satisfaction and helps in retaining key employees of the company. knowledge needs. career plans for their employees’ on the basis of skills. Appreciate employees’ on the basis of employees’ work performance by Promotion or increment in the salaries. Employees have doubts about the rewards and feel that the system is not too transparent. This in the long run unattended would reduce the morale and may lead to attrition. The project leaders are dissatisfied with the way responsibilities are distributed.
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. The performance culture of the company is another area where needs to be done to improve the training regimen so that involvement of the employees is enhanced which finally would build the morale and productivity would be enhanced. The company needs to works in this area and bring more clarity in the definitions of roles and responsibilities. The Management should design training and development programs.
which may not reflect the opinion of the entire population in the company. This study has the following limitations:
Even though the survey was conducted for the employee performance review the study does not match with the entire population in the company. This will affect the study. Sample may behave or give different opinions at different times because of their psychological temperament.
Most of the organization hesitates to give confidential HR information which is needed for the study like expectation in salary. periodical incremental percentage.
Because of time constraints.
Data could be collected from only 20 respondents as they were busy and could not respond so well to the questionnaires. the sample size is restricted to 20.
Since study was restricted to samples.Limitation of the Study-
Any research study will be restricted in scope by certain inherent limitations that are participated by the choice of the research design.
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Is Performance Appraisal process is simple to understand? a.
Do you receive an orientation on how to conduct appraisal process? a. Is the Performance Appraisal process user friendly? a.
Does Performance Appraisal process assess fairly? a.1 hour b. No
3. Yes b. Yes b.QUESTIONAIRE
Part A: Name of the Respondent Age Gender Qualification Designation : ______________________ : ______________________ : ______________________ : ______________________ : _______________________
Part B: 1.
How much time is spent in preparing for feedback session? a. No
Is Performance Appraisal conducted on time? a. Yes b. Yes b. Yes b.2 hour
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In your opinion how is overall performance appraisal system in “BAJAJ ALLIANZ LIFE INSURANCE”? a.Good c. What other process can be included making the appraisal process much better? a. Excellent b. b.Average d. Critical Incident Method c. Process
Do you feel any difficulty in handling them? a. No
10.7. Web based Method. No
b) If not then what are the areas need to be improved? a.
a) Are you satisfied with the current appraisal system? a. Yes b.Poor
8. MBO b.
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. Time 9.
This method is very convenient to be used. The method used by the company is very fair and it is very easy to be adopted by the personnel’s. This helps the company to turn out to be profit making company.
After the survey and the conversation by the people of other company we came to know that they have introduced the 360-degree performance appraisal in the company.
As in BAJAJ ALLIANZ LIFE INSURANCE we are using the “Rating scales” or “Fair comparison method” mostly to grade the performance of the employees.Performance appraisal is very important for any company. Before they were using the same method as used by BAJAJ ALLIANZ LIFE INSURANCE at times they used “Forced
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. But the drawback associated with the method is that it has now became an out dated method to be used because there are fifty percent chances of biasness to occur for a particular employee by the raters. It helps to make the companies employee work better and show good result for the company too.
Hence accordingly to my views I would also suggest the company to go for the change it the method adopted by them for better results and employee satisfaction.
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But when they realized that they are having complains from the workers. they decided to go for a change and now they incorporated 360-deree performance appraisal. which affected the companies working to a great extent.choice method” also to rate the performance. staff etc. the result of using this method is that everyone in the company is satisfied by it.
Anurag Jain for Excel Books. www.com
7. Performance Management
4. K Ashwathappa. TATA
McGraw-Hill Publishing Company limited. New Delhi. Human Resource & Personal management. V S P Rao.Bibliography
1.performance-appraisal. Dr. Prem Chadha. Human Resource Management.com
6.naukrihub. Wikipedia -An Encyclopedia
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3. www.appraisals. Google Engine Search
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