A Project report

On

Performance appraisal

In

Reliance securities

Submitted To:

Submitted By: Jyotsana Rawat .

7th km. Stone Ramnagar Road, Kashipur Distt. U.S Nagar (Uttarakhand)

Index

Contents: Preface Acknowledgement Student declaration Executive summary

Chapter 1 Introduction
1.1 - Objectives of study 1.2 - Scope of study 1.3 - Limitation of study 1.4 - Research methodology

Chapter 2 Conceptual framework Chapter 3 About the company Chapter 4 Analysis and findings Chapter 5 Recommendation and conclusion Bibliography

Annexure

PREFACE

This project is submitted in the partial fulfillment of the requirement of the Bachelor Program of Business Administration of the Shriram Institute of Management and technology Kashipur. It is the outcome of the work I have undergone at RELIANCE SECURITIES LIMITED Dehradun. Today it is acknowledged and widely accepted facts that beside money, material and machine success of any organization greatly depend upon the quality of Human Resources. Performance Appraisal plays an important role for any organization: To analysis the performance of the employee.

My topic is concern with employees performance appraisal in RELIANCE SECURITIES LTD, Dehradun. This project provided me an opportunity to understand companies Performance appraisal procedures.

ACKNOWLEDGEMENT

Sometimes words fall short to show gratitude, the same happened with me during this project. The immense help and support received from Reliance Security Limited overwhelmed me during the project. I am extremely grateful to the entire team of Reliance Securities at Dehradun and also Mr. Abhiraj Shrivastav (Branch Manager of Reliance security) who have shared their expertise and knowledge with me and without whom the completion of this project would have been virtually impossible. This present study is the result of continuous support and guidance of the eminent faculty member of my institute. I am internally and intellectually indebted to my guide Mr. A.S Negi (faculty Management dept.) who helped me to draw out the pearls from the ocean of thoughts over the subject and always encouraged me to enhance my knowledge by providing me the guidance about the selective material which I should read. At the end I also thank my senior and colleague for their helping behavior without whom it would be difficult to complete this work successfully. I would give special thanks to my parents for their proper guidance and moral support.

STUDENT DECLARATION

This project has been under taken as a partial fulfillment of the requirements for the award of the degree of BACHELOR IN BUSINESS ADMINISTRATION OF KUMAUN UNIVERSITY NAINITAL (UTTARAKHAND).

This project was executed during 4th semester of BBA programme under the supervision of Mr. A.S Negi.

I declared that this project is my original work and the analysis and finding are for academic purpose only. This project has not been presented in any seminar or submitted else where for the award of degree or diploma.

Counter Signed By: -

(Student signature)

EXECUTIVE SUMMARY

Appraisal is a continuous process and done annually as a formal exercise before completion of the financial year. Appraisal has tremendous motivational impact on people through meaningful feedback and is a powerful tool for recognition. This project explains performance appraisal system and tries to find out how efficiently Performance Appraisal is conducted. And if performance appraisal doesnt meet its objective then, what are the factors causing failure.

CHAPTER- 1

INTRODUCTION

The study is learning the process of performance appraisal in Reliance securities ltd. The employees of reliance securities are fully satisfied with their job. My main reason to select this topic was to observe how people work in the organization, the process or method by which individuals performance were analyses. Performance appraisal is a formal, structured system of measuring and evaluating an employees job, related behaviors and outcomes to discover How and why the employee is presently performing on the job and how the employee can perform more effectively in the future so that thee employee, organization, and society all benefit.

OBJECTIVE OF STUDY:

1- The objective of report is to study the plan promotions, salary revisions, promotions, empowerment, training and development, and also demotions and terminations in Reliance Securities ltd.

2- To identify the source of performance appraisal in Reliance securities Ltd.

3- To identify the strength and weakness inside the employee in Reliance Securities Ltd.

4- To provide training or reward according the appraisal.

5- To study the performance appraisal methodology adopted by Reliance Securities Ltd.

SCOPE OF STUDY:

The strength of any organization is its people if people are attended to properly by recognizing their talents, developing their capabilities and utilizing them appropriately, organizing are likely to be dynamic and grow fast. Ultimately the variety of tasks in any organization has to be accomplished by the people. Some of them may have capabilities to do certain task better than other tasks, and some of them may not have capability to do the task assigned to them. In any case of the important process goals of dynamic organization is to assure that its people are capable of doing the variety of tasks associated with their role/ position. My interest is totally in H.R. and the above study would brighten my career in H.R. By this study I got an experience about how the organization works, attitude of people working there also it got a chance to differentiate between practical and theoretical work.

RESEARCH METHODOLOGY:

To conduct a research scientific method must be followed. The universe of study at RELIANCE SECURITIES Ltd. is basically very large in which it is difficult to collect information from all the employees. So, the sampling method has been followed for this study. The analysis is based on primary and secondary data collected for this purpose. Sources of data: The data collected for the project work are from two sources that is primary and secondary sources. Primary Data: For this research I have followed the structure personnel interviews after deciding to carry out a survey research by performance appraisal sample from other broking companys in Dehradun. The opinion of other companys was collected using appropriate questionnaire. This observation was brought about with the help of attention.

Secondary Data:
The secondary data were collected from the internet, Ashwathapa H.R book & the manual published by the company.

 Method of analysis:
Graph

Chapter 2

WHAT IS PERFORMANCE APPRAISAL?

A performance appraisal or performance evaluation is a systematic and periodic process that assesses an individual employees job performance and productivity in relation to certain pre-established criteria and organizational objectives. Other aspects of individual employees are considered as well, such as organizational citizenship behavior, accomplishments, potential for future improvement, strengths and weaknesses, etc. To collect performance appraisal data, there are three main methods: objective production, personnel, and judgmental evaluation. Judgmental evaluations are the most commonly used with a large variety of evaluation methods. A performance appraisal is typically conducted annually. The interview could function as providing feedback to employees, counseling and developing employees, and conveying and discussing compensation, job status, or disciplinary decisions. Performance appraisal is often included in performance

management systems. Performance management systems are employed to manage and align" all of an organization's resources in order to achieve highest possible performance. How performance is managed in an organization determines to a large extent the success or failure of the organization. Therefore, improving performance appraisal for everyone should be among the highest priorities of contemporary organizations. Some applications of performance appraisal are performance improvement, promotions, termination, test validation, and more. While there are many potential benefits of performance appraisal, there are also some potential drawbacks. For example, performance appraisal can help facilitate management-employee communication; however, performance appraisal may result in legal issues if not executed appropriately as many employees tend to be unsatisfied with the performance appraisal process. Performance appraisal is created in and determined as useful in the United States are not necessarily able to be transferable cross-culturally.

How is Performance managed?

Good performance by the employees creates a culture of excellence, which benefits the organization in the long run. The activity includes evaluation of jobs and people both, managing gender bias, career planning, and devising methods of employee satisfaction etc. The efforts are to make to generate the individuals aspirations with the objectives of the organization. Organization has to clear the way of career advancements for talented and hardworking people. Fear of any kind from the minds of the employees should be removed so that they give best to their organization. Allow free flow of information.

Communication network should be designed in such a way no one should be allowed to become a hurdle. This enables the managers to take correct decisions and that too quickly.

Why Performance Appraisal?????

Todays working climate demands a great deal of commitment and effort from employees, who in turn naturally expect a great deal more from their employers. Performance appraisal is designed to maximize effectiveness by bringing participation to more individual level in that it provides a forum for consultation about standards of work, potential, aspirations and concerns. It is an opportunity for employees to have significantly greater influence upon the quality of their working lives. In these times of emphasis on quality, there is a natural equation: better quality goods and services from employees who enjoy better quality goods and services from their employers. Performance appraisal must be seen as an intrinsic part of a managers responsibility and not an unwelcome and time-consuming addition to them. It is about improving performance and ultimate effectiveness. Performance appraisal is a systematic means of ensuring that managers and their staff meet regularly to discuss post and present performance issues and to agree what future is appropriate on both sides. This meeting should be based on clear and mutual understanding of the job in question and the standards and outcomes, which are a part of it. In normal circumstances, employees should be appraised by their immediate managers on one to one basis. Often the distinction between performance and appraising is not made. Assessment concerns itself only with the past and the present. The staff is being appraised when they are encouraged to look ahead to improve effectiveness, utilize strengths, redress weaknesses and examine how potentials and aspirations should match up. It should also be understood that pushing a previously prepared report across and desk cursorily inviting comments, and

expecting it to be neatly signed by the employee is not appraisal - this is merely a form filling exercise which achieves little in terms of giving staff any positive guidance and motivation.

THE APPRAISAL OF PERFORMANCE SHOULD BE GEARED TO:

Improving the ability of the jobholder;

Identifying obstacles which are restricting performance Agreeing a plan of action, that will lead to improved performance. It is widely accepted that the most important factor in organization effectiveness is the effectiveness of the individuals who make up the organization. If every individual in the organization becomes more effective, then the organization itself will become more effective. The task of reviewing situations and improving individual performance must therefore be a key task for all managers. For appraisal to be effective, which means producing results for the company, each manager has to develop and apply the skills of appraisal. These are: 1. Setting standards on the performance required, which will contribute to the achievement of specific objectives.

2. Monitoring performance in a cost effective manner, to ensure that previously

agreed performance standards are actually being achieved on an ongoing basis.

3. Analyzing any differences between the actual performance and the required
performance to establish the real cause of a shortfall rather than assume the fault to be in the jot holder.

4. Interviewing having a discussion with the jobholder to verify the true cause of a
shortfall, a developing a plan of action, which will provide the performance, required.

Appraisal can then become a way of life, not concerned simply with the regulation of rewards and the identification of potential, but concerned with improving the performance of the company. The benefits of appraisal in these terms are immediate and accrue to the appraising manager, the subordinate manager/employee, and to the company as a whole

Who Conducts Performance Appraisals

Human Resource Management & Performance Management

Human resource management (HRM) conducts performance management. Performance management systems consist of the activities and/or processes embraced by an

organization in anticipation of improving employee performance, and therefore, organizational performance. Consequently, performance management is conducted at the organizational level and the individual level. At the organizational level, performance management oversees organizational performance and compares present performance with organizational performance goals. The achievement of these organizational performance goals depends on the performance of the individual organizational members. Therefore, measuring individual employee performance can prove to be a valuable performance management process for the purposes of HRM and for the organization. Many researchers would argue that performance appraisal is one of the most important processes in Human Resource Management. The performance management process begins with leadership within the organization creating a performance management policy. Primarily, management governs performance by influencing employee performance input (e.g. training programs) and by providing feedback via output (i.e. performance assessment and appraisal). The ultimate objective of a performance management process is to align individual performance with organizational performance. A very common and central process of performance management systems is performance appraisal. The performance appraisal process should be able to inform employees about the organization's goals, priorities, and expectations and how well they are contributing to them.

When Performance Appraisals are Conducted

Performance appraisals are conducted at least annually, and annual employee performance reviews appear to be the standard in most American organizations. However, it has been acknowledged that appraisals conducted more frequently (more than once a year) may have positive implications for both the organization and employee. It is suggested that regular performance feedback provided to employees may quell any unexpected and/or surprising feedback to year-end discussions. In a recent

research study concerning the timeliness of performance appraisal, one of the respondents even suggested that the performance review should be done formally and more frequently, perhaps once a month, and recorded twice a year. Other researchers propose that the purpose of performance appraisal and the frequency of their feedback are contingent upon the nature of the job and characteristics of the employee. For example, employees of routine jobs where performance maintenance is the goal would benefit sufficiently from annual performance appraisal feedback. On the other hand, employees of more discretionary and non-routine jobs, where goal-setting is appropriate and there is room for development, would benefit from more frequent performance appraisal feedback.

Methods of Collecting Performance Appraisal Data

Traditional Method

1. ESSAY APPRAISAL METHOD: This traditional form of appraisal, also known as "Free Form method" involves a description of the performance of an employee by his superior. The description is an evaluation of the performance of any individual based on the facts and often includes examples and evidences to support the information. A major drawback of the method is the inseparability of the bias of the evaluator. 2. STRAIGHT RANKING METHOD: This is one of the oldest and simplest techniques of performance appraisal. In this method, the appraiser ranks the employees from the best to the poorest on the basis of their overall performance. It is quite useful for a comparative evaluation.

3. PAIRED COMPARISON: A better technique of comparison than the straight ranking method, this method compares each employee with all others in the group, one at a time. After all the comparisons on the basis of the overall comparisons, the employees are given the final rankings. 4. CRITICAL INCIDENTS METHODS: In this method of Performance appraisal, the evaluator rates the employee on the basis of critical events and how the employee behaved during those incidents. It includes both negative and positive points. The drawback of this method is that the supervisor has to note down the critical incidents and the employee behavior as and when they occur. 5. FIELD REVIEW: In this method, a senior member of the HR department or a training officer discusses and interviews the supervisors to evaluate and rate their respective subordinates. A major drawback of this method is that it is a very time consuming method. But this method helps to reduce the superiors personal bias.

6. CHECKLIST METHOD: The rater is given a checklist of the descriptions of the behavior of the employees on job. The checklist contains a list of statements on the basis of which the rater describes the on the job performance of the employees. 7. GRAPHIC RATING SCALE:

In this method, an employees quality and quantity of work is assessed in a graphic scale indicating different degrees of a particular trait. The factors taken into consideration include both the personal characteristics and characteristics related to the on the job performance of the employees. For example a trait like Job Knowledge may be judged on the range of average, above average, outstanding or unsatisfactory. 8. FORCED DISTRIBUTION: To eliminate the element of bias from the raters ratings, the evaluator is asked to distribute the employees in some fixed categories of ratings like on a normal distribution curve. The rater chooses the appropriate fit for the categories on his own discretion.

Modern Method

MBO
The concept of Management by Objectives (MBO) was first given by Peter Drucker in 1954. It can be defined as a process whereby the employees and the superiors come together to identify common goals, the employees set their goals to be achieved, the standards to be taken as the criteria for measurement of their performance and contribution and deciding the course of action to be followed. The essence of MBO is participative goal setting, choosing course of actions and decision making. An important part of the MBO is the measurement and the comparison of the employees actual performance with the standards set. Ideally, when employees themselves have been involved with the goal setting and the choosing the course of action to be followed by them, they are more likely to fulfill their responsibilities.

MBO process

360 degree performance appraisal

360 degree feedback, also known as 'multi-rater feedback', is the most comprehensive appraisal where the feedback about the employees performance comes from all the sources that come in contact with the employee on his job. 360 degree respondents for an employee can be his/her peers, managers (i.e. superior), subordinates, team members, customers, suppliers/ vendors Anyone who comes into contact with the employee and can provide valuable insights and information or feedback regarding the "on-the-job" performance of the employee. 360 degree appraisal has four integral components: 1. Self-appraisal 2. Superiors appraisal 3. Subordinates appraisal 4. Peer appraisal.

ASSESSMENT CENTRES:
An assessment center typically involves the use of methods like social/informal events, tests and exercises, assignments being given to a group of employees to assess their competencies to take higher responsibilities in the future. Generally, employees are given an assignment similar to the job they would be expected to perform if promoted. The trained evaluators observe and evaluate employees as they perform the assigned jobs and are evaluated on job related characteristics. The major competencies that are judged in assessment centers are interpersonal skills, intellectual capability, planning and organizing capabilities, motivation, career orientation etc. assessment centers are also an effective way to determine the training and development needs of the targeted employees.

BEHAVIORALLY ANCHORED RATING SCALES:

Behaviorally Anchored Rating Scales (BARS) is a relatively new technique which combines the graphic rating scale and critical incidents method. It consists of predetermined critical areas of job performance or sets of behavioral statements describing important job performance qualities as good or bad (for eg. the qualities like inter personal relationships, adaptability and reliability, job knowledge etc). These statements are developed from critical incidents. In this method, an employees actual job behavior is judged against the desired behavior by recording and comparing the behavior with BARS. Developing and practicing BARS requires expert knowledge.

HUMAN RESOURCE ACCOUNTING METHOD:

Human resources are valuable assets for every organization. Human resource accounting method tries to find the relative worth of these assets in the terms of money. In this method the Performance appraisal of the employees is judged in terms of cost and contribution of the employees. The cost of employees include all the expenses incurred on them like their compensation, recruitment and selection costs, induction and training costs etc whereas their contribution includes the total value added (in monetary terms). The difference between the cost and the contribution will be the performance of the employees. Ideally, the contribution of the employees should be greater than the cost incurred on them.

PERFORMACE APPRAISAL IN RELIANCE SECURITIES:-

Variable Pay Plan 2012-13 For Reliance Money

Prepared by Checked By Authorised By Launched Date Current Policy

Sunil Somarajan Sanjay Wadhwa Vikrant Gugnani April 1, 2012 Quarter 1-2012 (April to June) July 1, 2012 March 31,2013

Head Human Resources. Chief Financial Officer. Executive director. Version 1.0. Version 1.0.

Applicable Revision Date Policy End Date

To be renewed April 1, 2013

VPP Coverage

RSEC, RCML, RMX, RMIL, RCIB, RMPML

VARIABLE PAY PLAN

Purpose
The purpose of a variable pay plan is to bring focus towards business performance, create performance driven culture, retain key talent and increase employee motivation.

Eligibility
It covers all functions of Reliance Money Group of companies i. e Reliance Securities, Reliance commodities, Reliance composite insurance Broking, Reliance Money Express, Reliance Money infrastructure, and Reliance Money Precious metals limited. The scheme/policy shall run for the financial year 2012-13.

Period of validity of variable plan

The variable plan is valid from April 1, 2012 till June 30th, 2012, based on the review of Q1; the plan shall be extended till March 31, 2013.

Variable pay plan (VPP) calculation

Variable pay plan calculation shall be done based on the pre-defined slab as mentioned in this policy. Human Resources Office in coordination with respective BH/FH shall collate the performance and complete the calculation process and submit the same to the Executive Director/ Finance/ President Human Resources for their approval before disbursement through payroll.

Pay out of variable pay

Pay out of variable pay shall be done based on the payment cycle as mentioned in this policy.

Scheme construct

Achievement criterias for various level for financial year 2012-13 for creating individual variable pool as per the CTC allocation for VPP shall as per the Weight-age given below.

A.

Self & Distribution

Band National head Zonal head Regional head Branch head

self achievement 60% 60% 70% 85%

team achievement Weight age 20% 30% 20% 10%

organisational 20% 10% 10% 5%

*Self-achievement #Team-achievement his/her KPI

- Achievement of an individual based on his/her KPIs. - Achievement made by an individuals supervisor on - PBT Achievements of an organization

##Organization Achievement

For eg. : Assuming a regional heads fixed CTC is rs. 10 lac. His variable pay pool as per the above matrix shall be

Particulars Self-achievement Team achievement Organization achievement

Weightage 70% 20% 10%

CTC pool 7,00,000 2,00,0O0 1,00,000

B.

For other functions including sales support

Band

*Self achievement ( on KPI)

# achievement

Team (KPI) Weight age

##

organizational

Achievements

Top Level (Direct Reportee to EDI) Senior level (Grades E8A & above) Middle Level (E5E7) Junior Level (E1-E4) 60% 60% 70% 85% 0% 20% 20% 10% 40% 20% 10% 5%

*Self Achievement #Team Achievement KPI

Achievement of an individual based on his/her KPIs. Achievement made by an individuals supervisors on his/her

##Organization Achievement - PBT Achievement of an organization.

Pay out % on KPIs for FY 2012-13

A. Self Achievement Grid

Achievement Grid Average of SA + TA At 80% For every 5% additional achievement up to 90% For every 5% additional achievement up to 100% For every 5% additional achievement over and above 100% up to 110% For every 5% additional achievement over and above 110%

Variable Pay (% of CTC) 8% of allocated CTC 1.5% of Allocated CTC 3% of Allocated CTC 5% of Allocated CTC 7% of Allocated CTC

B.

Team Achievement Grid

Achievement Grid- Average of SA + TA At 80% For every 5% additional achievement up to 80% = 90 For every 5% additional achievement 90% = 100% For every 5% additional achievement over and

Variable pay (% of CTC) 8% of allocated CTC 1.5% of allocated CTC 3% of allocated CTC 5% of allocated CTC

Above > 100% <=110% For every 5% additional achievement over and above 110% 7% of allocated CTC

C. Organizational achievement Grid Reliance money

Achievement Grid PBT Target on OA PBT Achievement Level at 75cr- 85cr PBT PBT Achievement Level at 85cr-95cr PBT PBT Achievement Level at 96cr-105cr PBT For everyone additional 1 crore above 105cr PBT

Variable Pay (% of CTC) 20% of allocated CTC 25% of allocated CTC 30% of allocated CTC 1% of CTC

D. How Does SA+TA+OA work

Example: Assuming Regional Heads fixed CTC- Rs. 10 lac, assuming achievement of SA+TA+OA is at 100%

particular Self Achievement

Weight-age CTC 70% breakup 700,00

Achieved KPI 100 %

VPP on CTC 17%

VPP payout P.A 119,000

Team Achievement Organization Achievement

20% 10% 100%

200,000 100,000 10,00,000

100% 100%

17% 20%

34,000 20,000 173,000

Criteria to qualify for variable pay plan

The minimum threshold for qualifying for variable pay is to achieve minimum 80% of the pre-agreed self KPI. Any employee, who does not achieve a minimum of 80% of self KPIs (SA), would not be entitled for any variable pay out based on his/her individual KPI achievement. One may get variable pay if the organizations has achieved its target provided he has at-least achieved 70% or more on self KPI, below which the individual shall not be entitled to any variable pay whatsoever.

 Profit

before tax (PBT) target for EDs Direct

Reportees shall be Reliance Money

Group PBT and for others it shall be individual organizations PBT. PBT target for business Heads Direct Reportees shall be individual companys business PBT target. Performance greed shall be made available on quarterly and half yearly basis for Reliance Money Group and its individual business. Maximum VPP shall not be more than 100% of the annualized CTC for sales and 100% of annualized CTC for support functions. For employees whose pay out calculation may be above the pre-decided cap, the management shall review such cases and use its direction and announce a compassionate bonus. This would be decided on individual case basis. For an employee joining in the middle of year, performance calculation and VPP pay out shall be done on prorated basis. All the above payments will be made prorated for the period of association and performance period during the financial year. Most of the measurement in support functions is done around process efficiency, CSAT, initiatives taken, any launches and implementation, budgets, costs etc, therefore it is difficult for support functions employees to get measured on a quarterly basis therefore the grid is made on half yearly basis. Achievements levels of grid could be changed based upon inputs of the executive director and HR Head.

Pay out cycle and retention criteria

A .Sales
Band National head Zonal head Regional head/ area head/ state manager Branch head/ Centre head/ Relationship manager #year end pay out shall be done along with the retained pay out amount. Quarterly Pay out Half % 0% 0% 70% 90% out % 0% 50% 0% 0% yearly pay # year end pay out 100% 50% 30% 10%

B .For other functions including sales support

Band Top level (Direct Reportees to ED) Senior level (Grades E8A & above i.e. Non Direct Reportees to ED) Middle level (E5E7) Junior level (E1-E4)

Quarterly pay out Half yearly pay out # year end pay out % 0% 0% % 0% 70% 100% 30%

0% 0%

70% 70%

30% 30%

#year end pay out shall be done along with the retained pay out amount.

Process flow of variable pay calculation

A. For sales
Function sales Administration SPOC will download quarterly data from the sales MIS for business login and revenue earned details for each employee. Prepare employee wise target vs. Achievement sales/ Business Head. Once approved by the respective Business head, the data shall be sent to the finance team for data validation and audit. Finance team will audit the same and authentic the achievement data. The data shall be further used for calculating the variable pay by the HR office and shall be validated by the CFO. Both executive director and group president Human Resources will give pay out clearance to HR Head. sheet with consultation of respective

 HR team will process the pay out as per the achievement post Head HR approval through payroll. TDs shall be applicable at the time of disbursement.

B .For support functions including product:

Respective Functional Head shall send employee wise target vs. Achievement sheet to HR . HR to vet functions. Post audit, HR along with function head shall review the same with Executive Director. Post approval of ED & Group President HR; HR will process the pay out through payroll. the data and HR head to revalidate the achievement grid for support

Conditions for variable pay plan scheme:

The achievement under this VPP for all eligible participants will be tracked on calendar month end. Any cancelation of sales would not be given credit as sales booked. Retention of revenue earned shall be taken into consideration for KPI achievements. Achievement slab % would be taken on individual basis as per the pre-agreed targets mentioned in the KPI and shall not be location or region specific. Revenue credit shall be given only if the business is booked in the respective sales personnels code . The VPP payout will be made based upon the quantitative targets and would not include any qualitative targets. Qualitative targets will be considered more for the purpose of rating and increments/ promotions.

 In case an employee role or location changes, then in such a case the calculation shall be done via weighted average of both the periods at the respective location. If an employee has received a payout for a case disbursed and if for whatsoever

reason the case is cancelled then the corrections will be made in the next quarter/half year payments as applicable. For this purpose the payment will be made in next to next months payroll cycle after the quarterly/half yearly period is closed. Not with standing any of the above, it is mandatory for an employee to be on the rolls of the company, on the date of disbursement of variable pay. For this purpose, any employee who has tendered his/her resignation, has been terminated or serving notice period shall not be considered to be on the rolls of the company and therefore shall not be eligible to receive any pay out as per this plan or nor shall get paid for any retained variable pay amount. The organization has the right to correct and recover any errors in pay out through the full and final settlement. On the launch of VPP, all other incentive plan in the company needs to get linked with VPP. Pay out process and calculation shall be based on the VPP plan only. For employees on leave without pay or any sabbatical leave will be not included in the VPP for that period. However in maternity leave cases HR Head will take a view for inclusion.

PAYMENT GUIDELINE

1. Payout will be based on the data received from respective sales Administration SPOCs which will be further audited and approved by executive Director, CFO and Head HR. 2. Payout will be done via payroll in the following quarter/half year (after deducting taxes as applicable). In line with the corporate governance Guidelines, the organization Achievement numbers shall be publishable only after the board has approved the results. 3. If an employee does not achieve his quarter/half yearly targets but achieves his yearly targets then he would be paid for the entire year after deducting the incentives already paid . 4. Any new employee joining mid of quarter will be eligible for incentives in the next quarter on pro-rata basis. 5. Tax shall be deducted as applicable.

6. Any employee found indulged into any mis-selling of a product to a client, or any sort of misrepresentation done in the market, in such cases the respective employee shall be immediately disqualified in earning variable pay. 7. Any dispute arising on the calculation of incentive or pay out, the final decision shall be vested by the committee lead by Head - Human Resources/ Chief Financial officer/ Business Head. 8. Notwithstanding any of the above, the executive Director and HR Head have complete authority to change, do away or modify the scheme at any point of time.

CHAPTER- 3

RELIANCE ADA GROUP

Reliance Anil Dhirubhai Ambani Group (usually referred as Reliance Group) is one of India's largest conglomerates, headquartered in Navi Mumbai, India. The company, which was formed after Dhirubhai Ambani's business empire was divided up, is headed by his younger son Anil Ambani. It has a market capitalization of US$ 15 billion, net assets US$ 7 billion. The ADAG Reliance Group has a business presence that extends to over 20,000 towns and 4.5 Lakhs (450,000) villages in India, and across the globe. The shareholder base is over 12 million, among the largest in the world. The group is present in many sectors including Telecom, Capital, Power, Infrastructure, Entertainment and Health. Reliance Communication is the second largest Telecom company in India in terms of Customers. Reliance Communications corporate clientele includes 2,100 Indian and multinational corporations, and over 800 global, regional and domestic carriers. Reliance Communication has acquired 3G license in 13 circles out of total 22 circles. Reliance has launched 3G services in 9 circles by 26 January 2011.

Reliance Capital (Rel Cap)

Reliance Capital has interests in asset management and mutual funds, life and general insurance, private equity and proprietary investments, stock broking, depository services, distribution of financial products, consumer finance and other activities in financial services. Reliance Capital, a constituent of CNX Nifty Junior and MSCI India, is a part of the Reliance Group. It is one of India's leading and amongst most valuable financial services companies in the private sector. Reliance Capital has interests in asset management and mutual fund; life and general insurance; commercial finance; stock broking; depository services; investment banking, private equity and proprietary investments; exchanges, asset reconstruction; distribution of financial products and other activities in financial services.

Reliance Mutual Fund

Reliance Mutual Fund is India's largest mutual fund. Reliance General Insurance is a general insurance company and among the top 3 private sector insurers. Reliance Money is brokerage and distributor of financial products in India with over 2.7 million customers and has the largest distribution network. Its brokerage, arm Reliance Securities is

planning to invest Rs.300 crore (Rs 3 billion) for upgrading infrastructure, hiring staff and enhancing the capability of its online trading platform. Reliance Mutual Fund is amongst top two Mutual Funds in India with over seven million investor folios. Reliance Life Insurance and Reliance General Insurance are amongst the leading private sector insurers in India. Reliance Securities is one of Indias leading retail broking houses. Reliance Money is one of Indias leading distributors of financial products and services.

Reliance Power (R Power)

Reliance Power (R Power) currently has a generation capacity of 1500MW. The company is in the process of achieving 5000MW by 2012, 17000MW by 2015 and 35000MW by 2020. The company is present in all verticals from generation to transmission to distribution. The company is having pan India projects and is currently having a big presence in Mumbai and Uttar Pradesh. The United Nations registered Reliance Powers Sasan power project on Feb 2, 2011 to earn as many as 22.5 million credits in the next 10 years.

Reliance Infrastructure (R Infra)

Reliance Infrastructure (R Infra) has emerged as the largest concessionaire of NHAI with 11 road projects totaling 1,000 km worth about Rs 120bn (US$ 2.6 billion) with more than 10,000 people working at various sites. Constructing Metro systems in Delhi and Mumbai totaling more than 75 km of track. Reliance Infrastructure is also bidding for projects in Nepal and Maldives.

Reliance Health
Reliance Health is providing integrated health services through one of the finest hospitals in Asia The Kokilaben Dhirubhai Ambani Hospital at Andheri, Mumbai. It also plans to venture into diversified fields like Insurance Administration, Health care Delivery and Integrated Health, Health Informatics and Information Management and Consumer Health. Reliance Capital has a net worth of Rs. 11,696 crore (US$ 2.3 billion) and total assets of Rs. 35,344 crore (US$ 6.9 billion) as on March 31, 2012.

Reliance Capital Limited (RCL)

RCL was incorporated in year 1986 at Ahmedabad in Gujarat as Reliance Capital & Finance Trust Limited. The name RCL came into effect from January 5, 1995. In 2002, RCL shifted its registered office to Jamnagar in Gujarat before it finally moved to Mumbai in Maharashtra, in 2006. In 2006, Reliance Capital Ventures Limited merged with RCL and with this merger the shareholder base of RCL rose from 0.15 million shareholders to 1.3 million. RCL entered the Capital Market with a maiden public issue in 1990 and in subsequent years further tapped the capital market through rights issue and public issues. The equity shares were initially listed on the Ahmedabad Stock Exchange and The Stock Exchange Mumbai. Presently the shares are listed on The Stock Exchange Mumbai and the National Stock Exchange of India.

RCL obtained its registration as a Non-banking Finance Company (NBFC) in December 1998. In view of the regulatory requirements RCL surrendered its Merchant Banking License. RCL has since diversified its activities in the areas of asset management and mutual fund; life and general insurance; consumer finance and industrial finance; stock broking; depository services; private equity and proprietary investments; exchanges, asset reconstruction; distribution of financial products and other activities in financial services.

Reliance Capital's vision is that:

By 2015, it will be a company that is known as: "The most profitable, innovative, and most trusted financial services company in India and in the emerging markets". In achieving this vision, the company will be both customer-centric and innovationdriven.

Name of Executives:
Amit Bapna (Chief Financial Officer, Reliance Capital) Arun Hariharan (President, Quality and Knowledge Management, Reliance Capital) K. Achuthan (Chief People Officer, Reliance Capital) K. V. Srinivasan (Chief Executive Officer, Reliance Commercial Finance) Lav Chaturvedi (Chief Risk Officer, Reliance Capital) Madhusudan Kela (Chief Investment Strategist, Reliance Capital) Malay Ghosh (Executive Director& President, Reliance Life Insurance Company)

Rajnikant Patel (President and Chief Executive Officer, Reliance Spot Exchange) Sam Ghosh (Chief Executive Officer, Reliance Capital) Sandeep Phanasgaonkar (Chief Technology Officer, Reliance Capital) Sanjay Jain (Chief Marketing Officer, Reliance Capital) Sundeep Sikka (Chief Executive Officer, Reliance Capital Asset Management) Rakesh Jain (Chief Executive Officer, Reliance General Insurance) Vikrant Gugnani (Chief Executive Officer, International BusinessReliance Capital) (Executive Director, Reliance Securities Ltd) V. R. Mohan (President and Company Secretary)

Reliance Securities

Reliance Securities, the broking arm of Reliance Capital is the one of the Indias leading retail broking houses in India, providing customers with access to equities, equity options and commodities futures, wealth management, wealth management services, mutual funds, IPOs and investment banking. Reliance Securities has more than 6.8 lac retail broking accounts through its pan India presence with over 6,000 outlets.

Reliance Money
The third party distribution business of Reliance Capital, branded as Reliance Money is a comprehensive financial services and solutions provider, providing customers with access to life and general Insurance products, money transfer, currency exchange, loans and gold coins.

Reliance Life Insurance Company Limited

Reliance Life Insurance Company Limited (RLIC) is amongst the leading

private sector life insurers with a private sector market share of over 5% in terms of new business premium. RLIC has a strong distribution network of 1,230 offices across India, with over 1,50,000 agents as at March 31, 2012. RLIC offers wide range of innovative life insurance products, targeted at individuals and groups. It offers need based products that caters to three distinct segments namely protection, retirement and investment plans. RLIC is committed to emerge as a leading Life Insurer with global scale and standards.

Reliance Commercial Finance

Reliance Commercial Finance aims to enable people to fulfil all their ambitions by creating assets for personal & business requirements. It offers an exhaustive suite of financial solutions Mortgages Loans, Loans against property, Loans for Commercial Vehicles, Loans for Construction Equipment, SME Loans, Auto Loans, business loans and Infrastructure Financing Whats more, with the help of our easy-to-use loan calculator, you can decide on the tenure, interest rate and the loan amount that best suits you.

Reliance General Insurance (RGI)

Reliance General Insurance (RGI) offers a range of products for the corporate and individual customers. RGI currently offers insurance products including Health, Home, Motor, Travel, Fire, Engineering, Marine, Liability and Aviation.

RGI is amongst the leading general insurance companies in India, with a private sector market share of 8%. RGI had a distribution network composed of 151 branches and over 6,500 intermediaries at the end of March 2012.

RELIANCE SECURITIES
Reliance Securities is a comprehensive financial solution provider that enables you to carry out trading and investment activities in a secure, costeffective and convenient manner. Through reliance money, you can invest in a wide range of asset classes from Equity, Equity and commodity Derivatives, Mutual Funds, insurance products, IPO.s to availing services of Money Transfer & Money changing. Reliance Securities offers the convenience of on-line and offline transactions through a variety of means, including its Portal, Call & Transact, Transaction Kiosks and at its network of affiliates. Some key steps of the company that are as.. Success is a journey, not a destination If we look for examples to prove this quote then we can find many but there is none like that of Reliance Money. The company which today known for the largest financial service provider of India. . Success sutras of Reliance Securities The success story of the company is driven by 8 success sutras adopted

by it namely trust, integrity, dedication, commitment, enterprise, hard work and team play, learning and innovation, empathy and humility. These are the values that bind success with Reliance Money. . Vision of Reliance Securities To achieve & sustain market leadership, Reliance Securities all aim for complete customer satisfaction, by combining its human and technological resources, to provide world class quality services. In the process Reliance Securities shall strive to meet and exceed customer's satisfaction and set industry standards. . Mission statement: Our mission is to be a leading and preferred service provider to our customers, and we aim to achieve this leadership position by building an innovative, enterprising , and technology driven organization which will set the highest standards of service and business ethics.

CEO
Shri Anil D. Ambani, regarded as one of the foremost corporate leaders of contemporary India, Shri Anil D. Ambani, is the Chairman of Reliance Capital Limited, Reliance Infrastructure Limited, Reliance Communications Limited and Reliance Power Limited. He is also on the Board of Reliance Infratel Limited and Reliance Anil Dhirubhai Ambani Group Limited. He is the President of the Dhirubhai Ambani Institute of Information and Communication Technology, Gandhinagar, Gujarat. An MBA from the Wharton School of the University of Pennsylvania, Shri Ambani is credited with pioneering several path-breaking financial

innovations in the Indian capital markets. He spearheaded the countrys first forays into overseas capital markets with international public offerings of global depositary receipts, convertibles and bonds. Under his Chairmanship, the constituent companies of the Reliance Group have raised nearly US$ 7 billion from global financial markets in a period of less than 3 years. Shri Ambani has been associated with a number of prestigious academic Institutions in India and abroad. He is currently a member of : Wharton Board of Overseers, The Wharton School, USA Board of Governors, Indian Institute of Management (IIM), Ahmedabad Executive Board, Indian School of Business (ISB),

Hyderabad

PRODUCTS AND SERVICES OFFERED BY RELIANCE SECURITIES:

Product offered by reliance securities are: a) Equity b) Derivatives c) Reliance Commodities d) Currency

A) EQUITY:

Delivery Cash
Long-term investments are always beneficial, as they do not respond to daily volatility in the Stock Market and keep the investor safe. As an Investor, one can avail of delivery based buying / selling based on the stock fundamentals. Reliance Securities also provide Fundamental Research calls on Delivery Based Stocks. These are long-term investment opportunities identified by our Research Desk CNC Stands for Cash-n-Collateral: You can take delivery positions using this product. Buy transactions will require 100% margins (Cash plus Approved Collateral) and Sell transactions will be allowed based on the Demat holdings available and limits will be enhanced instantly for sale value. Position Conversion: This feature use to convert your CNC position to NRML / MIS before specified cut off time subject to availability of required margins. If CNC positions are taken against collateral, you are required to clear your debit by T+2 day or else Delayed payment Charges (DPC) will be levied from T+2 day onwards. If debits are not cleared by T+6 day, RSL will liquidate the positions anytime on or after T+7 day. If debits are not cleared by T+6 days, further exposure will not be allowed in that particular exchange effective from T+7 day onwards NRML stands for Normal. You can take delivery buy positions in specified stocks (Specified by Reliance Securities Limited on its website from time to

time) by paying a minimum margin (ranging 20% to 60% which would vary from stock to stock) and pay the balance within T+2 or not later than T+6 day.

If debits are not cleared by T+6 day, RSL will liquidate the positions anytime on or after T+7 day. For Example: If your available limits is Rs. 20,000/- you can take exposure up to Rs.80,000/- under NRML. You can make the balance payment within T+2 or not later than T+6 day. If debits are not cleared by T+2 day, Delayed Payment Charges (DPC) will be levied from T+2 day onwards. At all times during the NRML term (i.e. T day to T+6 day), you need to maintain minimum margin as required and defined by RSL from time to time. If debits are not cleared by T+6 days, further exposure will not be allowed in that particular exchange effective from T+7 day onward

After Market Order (AMO)

It is a facility that gives us an option to place orders even after or before the trading hours, using our online trading platforms. We can place AMO on both NSE and BSE under Equity and Derivatives. As a customer, we can place AMO in Equity (NSE and BSE) and Derivatives (NSE) as per below timing: Online: From 5:30 P.M. IST onwards up-to 9:14 A.M IST next trading day Call & Trade: Daily from 8:30 A.M. IST onwards up to 9:14 A.M. IST All accumulated orders will be sent to exchange on market open Due to scheduled system maintenance process, AMO orders will not be

accepted between 11:30 P.M. to 4:30 A.M. IST. We can place Limit order or Market order under AMO. However it is advisable to place AMO as Limit order. Placing AMO order as market order might result in your order getting executed at unfavorable price. Example: on 5th December Infosys closes at Rs. 3400/-. Suppose a customer placed an AMO market order to buy 50 shares of Infosys. On 6th December the AMO is pushed to the exchange & if that particular order happens to be the first buy trade to hit the market & on the other end first sell trade to hit the market is priced at Rs. 3600/- then the buy order would get executed at Rs. 3600/- which would result in a high buy. However you have to be very careful while placing the limit order as well. There are chances of error such as Infosys closing rate is Rs. 3400/where as you might place a buy order erroneously at Rs. 4400/- and if in opening market such order happens to be first order then shares could be purchased @ Rs. 4400/-. We should ensure that price which you have entered is not too high or not too low then the closing price. Hence it is advisable to enter limit orders in the range of +5% or -5% of closing market price. We can also place a F&O order under AMO. AMO provides the convenience to place orders without having to wait for the market to open. AMO order is subject to rejection / cancellation, In case sufficient margin is not available in the ledger after the beginning of the day limit calculation process is run. To check the status of your AMO, we request you to refer to order book during market hours.

. Trading Intraday: Active traders can take advantage of market movements by leveraging with our unique products. In addition, Reliance Securities also provides intraday live market calls that help the customer trade efficiently. All intraday positions need to be squared off before the market closes The Margin Intraday Square-off (MIS) facilitates we can take leverage in intraday position in cash & futures. Unlike CNC, instead of blocking 100% as margin, it only blocks a pre-specified percentage as margin. We can Buy and Sell stocks on NSE and BSE during the trading hours. We need to square off all open positions under MIS product before 3:20 p.m. on same trading day. There are two additional features in the MIS that enhance your intraday buying positions viz. Plus Multiplier and Super Multiplier both these are intraday products as well. MIS is a product that offers approximately 5 times exposure in cash segment, 6.5 times in stock futures and 10 times in index futures. By default all our clients are offered this product. If client wish, MIS positions can be converted to any other product such as NRML or CNC before the specified cut-off, subject to the availability of the

required margin.

B) DERIVATIES:

The derivative segment is a market that gives us an opportunity to earn greater profits by paying a nominal amount of margin. Over past few years, Popularity and Dealings in Future & Options segment has grown incredibly. Future contracts are available on Equities, Indices, Currency and Commodities. We may be a new or a seasoned investor, our derivatives product offering will suite you the best. Our Strong research supports on derivatives segment, will always help us make appropriate decisions We can trade in Futures and Options under NSE. Products enabled are MIS and NRML

 MIS provides intraday leveraging NRML for taking carry forward positions If positions in derivatives segment are taken against collateral, Delayed payment Charges (DPC) will be levied on the debit amount from T day onwards.

SCHEMES OFFERED IN RELIANCE SECURITIES.:

1) Equity/Growth Schemes:The aim of growth funds is to provide capital appreciation over the medium to long- term. These Schemes are: . Reliance Equity Fund . Reliance Growth Fund . Reliance Vision Fund . Reliance Tax Saver (ELSS) Fund . Reliance Equity Opportunities Fund . Reliance Long Term Equity Fund etc

2) Debt/Income Schemes: The aim of income funds is to provide regular and steady income to investors. These schemes are:

. Reliance Interval Fund . Reliance Income Fund . Reliance Liquid Fund . Reliance Liquid Plus Fund

3) Sector Specific Schemes:These are the funds/schemes which invest in the securities of only those sectors or industries as specified in the offer documents. E.g.Pharmaceuticals, Software, Fast Moving Consumer Goods (FMCG), Petroleum stocks, etc. These schemes are: . Reliance Banking Fund . Reliance Pharma Fund . Reliance Diversified Power Sector Fund . Reliance Media & Entertainment Fund Reliance Money offers dedicated research & expert advice on Mutual Funds. Mutual funds are considered to have low risk factors owing to diversification of assets into various sectors and scripts or instruments within.

C) CURRENCY:

Currency Derivatives Trading is emerging as an avenue for individuals and corporates in India to diversify their portfolio and manage their foreign exchange risk. Exchange Traded Currency Derivatives have registered a phenomenal growth since its inception in 2008 marking a daily turnover of almost Rs.50,000Cr . Reliance Securities Ltd offers Currency Derivative Trading Services to all its clients on all major & recognized stock exchanges.

What are Currency Derivatives?

The conversion rate at which currency of one country (e.g. USD $) can be converted into another countrys currency (For Ex. Indian Rupee) is called an exchange rate (e.g. 1$=55 Indian Rupees). Any derivative (Futures or Options) where the underlying is this exchange rate is called Currency Derivatives. In India following Currency Derivatives are available for trading USDINR- Futures and Options (US Dollar, Indian Rupee) EURINR- Futures (European Euro, Indian Rupee) GBPINR- Futures (British Pound, Indian Rupee) JPYINR- Futures (Japanese Yen, Indian Rupee)

D) COMMODITIES:

A commodity is something that is relatively easily traded, that can be physically delivered, and that can be stored for a reasonable period of time. It is a characteristic of commodities that prices are determined on the basis of an active market, rather than by the supplier (or other seller) on a costplus basis. Commodity markets are markets where raw or primary products are exchanged. These raw commodities are traded on regulated commodities exchanges, in which they are bought and sold in standardized contracts.

Commodities covers physical product (food, metals, electricity) markets but not the ways that services, including those of governments, nor investment, nor debt, can be seen as a commodity. Reinsurance markets, stock markets, bond markets and currency markets cover those concerns separately and in more depth. The relationship between simple commodity money and the more complex instruments offered in the commodity markets.

LIMITATION OF STUDY:
While making the project in Reliance Securities Ltd. The main limitation that I

faced was the secrecy adopted by the company in providing the information. Time was the limitation while carrying the project. I had to complete the project

in 30 days thus the project could have been better if more time was provided to me. me. Due to heavy rainfall I faced somewhat problem during my survey. Other limitation was that Reliance securities is a stock market company while my The respondents were too busy to provide me proper time that was required by

project relates with human resource.

Chapter- 4

FINDINGS

The purpose of a variable plan in reliance securities is to bring focus towards business performance number. For appraisal in Reliance securities Ltd, Dehradun a SELF-APPRAISAL form is given to the staff members and they fill it up. And then after according to their self-observation and through the appraisal form filled by the staff members rating is given to the members. Accordingly then incentives and promotions are granted

Personnel are fully satisfied with there performance programs in Reliance Securities Ltd. 95% employees feel that their jobs are according to there qualification.

Reliance initiative is provided to employees, through which employee feel themselves as a part of Reliance and not just an employee.

 All senior production officers agree that performance appraisal system helps them to perform better.

ANALYSIS

Q.1 When Performance Appraisal is made in the organization?

Q2. In your Opinion Performance Appraisal is? a. Evaluation of Employees b. Promotion of Employees c. Job Satisfaction of Employees d. Motivation

Q3. What is the objective of performance appraisal? Promotion Assessing training and development needs Pay rise Others

Q4. Which method of performance appraisal is implemented in the organization? a. Merit b. Grading c. Other

Q5.In your opinion Performance Appraisal system of your organization is related to which of the following? a. Retention of Employees b. Recruitment System c. Organizational Culture d. Motivation

Q6. Who rates the performances? a. Superiors b. Subordinates c. Clients d. All

Q7. On what basis performance appraisal is made? a. Total output b. Behavioral efficiency c. Both

Q8. Are there any job expectations established before performance appraisal? a. Frequently b. Often c. Sometimes d. Never

Q9. Is 360 degree appraisal process undertaken in the organization? Yes No If yes, from when? a. Recently b. More than one year

c. Less than one year d. Since the inception of 360 degree process

Chapter- 5

RECOMMENDATION

As we know Performance appraisal is a systematic and objective way of judging the relative worth or ability of an employee in performing the task. Performance appraisal helps to identify those who are performing their assigned tasks and those who are not and the reasons for such performance.

The company should appraise the performance of the workers by giving them some incentives, which motivate them to work to their fullest capacity and to motivate them to work more and show good and better results.

For the top management of the company it should offer them holiday package, appraise performance by recognizing there work in meetings etc. This will help to raise their moral and they can work better. They dont want financial help as they earn enough to maintain their status.

For the lower group the company can increase their wages, give them pension schemes, provide them the medical facilities etc. because they want financial help from the company to insure their proper living.

The criteria decided upon which the performance has to be rated should not be fixed it should be changed from time to time.

There should be the feeling of teamwork in the organization.

The performance, which is been measured, should be verifiable and measurable afterwards also.

CONCLUSION

This study was a learning experience where I came to know at experience the real world exercise of HR Department. It has helped me to get the feel of organization.

So after my full study I have to reached to a conclusion that needs to spread the awareness about the topic among the employees. It was my experience in a working set-up in the field of performance appraisal. Things are much different from what we read in books. I wish for the bright future of the company with lot of thanks for everything that I gained in Reliance. According to the analysis conclusion may be summarized as follows: 80% of the employees working in Reliance are satisfied from their job. Customers are not fully satisfied. Lack of proper supervision is there in Reliance. In Reliance initiative is provide to employees, through which employees feel himself as a part of Reliance and not just an employee. Work culture is satisfactory in Reliance.

BIBLIOGRAPHY

www.Rsec.co.in

Human Resource Management ASHWATTHAPA

Abhiraj Branch Manager of Reliance Securities LTD., Dehradun.

www.Google.com

RelianceADAgroup.com

Reliancecapital.com

Annexure:

NAME:

DESIGNATION: ADDRESS:

Q1. When performance appraisal is made in the organization? a. Monthly b. Quarterly c. Yearly d. Others

Q2. In your Opinion Performance Appraisal is? a. Evaluation of Employees b. Promotion of Employees c. Job Satisfaction of Employees d. Motivation

Q3. What is the objective of performance appraisal? a. Promotion b. Assessing training and development needs c. Pay rise d. Others

Q4. Which method of performance appraisal is implemented in the organization? a. Merit b. Grading c. Other

Q5.In your opinion Performance Appraisal system of your organization is related to which of the following? a. Retention of Employees b. Recruitment System c. Organizational Culture d. Motivation

Q6. Is there any conflict arise between employees after performance appraisal is made? a. Frequently b. Often c. Sometimes d. Never

Q7. Are there any job expectations established before performance appraisal? a. Frequently b. Often c. Sometimes d. Never

Q8. Who rates the performances? a. Superiors b. Subordinates c. Clients d. All

Q9. On what basis performance appraisal is made? a. Total output b. Behavioral efficiency c. Both

Q10. Is 360 degree appraisal process undertaken in the organization?

Yes No

If yes, from when? a. Recently b. More than one year c. Less than one year d. Since the inception of 360 degree process

Q11. Does any change arise after appraising the performances of employees?

Yes No

If yes, how is it? a. Positive b. Negative c. Both

Q12. Does performance appraisal process help to raise organizations total output?

Yes No

If yes, to what extend? 12345 (Select one option. 1=poor, 2=so so, 3=moderate, 4=good, 5=best)

Q13. Are you satisfied with the appraisal process of the organization? Yes No

If yes, to what extend? a. Fully satisfied b. moderately satisfied If no, give reasons and your suggestions to make it better?

Q14. Do you feel performance appraisal process is sufficient in appraising the performances of employees or you need some alternatives to it? a. Sufficient b. Alternative If you need some alternatives, what kind of alternative should be adopted?

Q15. Satisfied with the existing performance appraisal system? Yes If no then why? No

Q16.Have a separate committee to review the performance appraisal result Yes No

Q17. Performance management includes more than a performance evaluation; it includes: a. Goal setting b. Career management c. Training & development d. Compensation All of the above