SUMMER TRAINING PROJECT REPORT

ON

PERFORMANCE MANAGEMENT SYSTEM OF THE JAMMU & KASHMIR BANK

For the partial fulfillment of the degree of Master of Business Administration

Punjab Technical University Session: !" # !"$

Under the guidance of:

Submitted by:

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Shammi Bhatia Placement (fficer MBA MA*+,T-./

Ab% &amid 'ar MBA#)rd Semester *oll no:" 01!2)

DECLARATION

-3 Ab% &amid 4ar student of Masters of Business Administration from SAS--T5* 3Mohali hereby declare that - have completed Summer -nternship on 6P,*F(*MA.7, MA.A/,M,.T S8ST,M (F T&, 9AMMU 5 +AS&M-* BA.+: as part of the course re;uirement% - further declare that the information presented in this project is true and original to the best of my <no4ledge%

Date:

=#!># !")

NAME: Ab% &amid 'ar Enro ! No: " 01!2)

" ace: Mohali

M#A C a$$ of %&'(

Ac)no* edgement

(n the very outset of this report3 - 4ould li<e to e?tend my sincere and heartfelt obligation to4ards all the persons3 4ithout 4hose guidance3 help3 cooperation and encouragement3 - 4ould not have been able to finish this project% First and foremost I would like to thank 6THE JAMMU & KASHMIR BA K: M!A R"A#$ Srina%ar for %i&in% me an o''ortunit( to do m( internshi' in their esteemed or%ani)ation! - o4e profound sense of regards and gratitude to4ards Mr% Salim +alu @Associate ,?ecutiveA 4ho has given me enough support 5 cooperation to me by finding time from his hectic schedule and continuously guided me in all the tas<s by given me valuable insight into issues li<e meaning if Mar<eting practices3 its uses3 objectives3 tools as 4ell as steps to be considered in developing and studying an organiBational structure% - am than<ful to all the employees at The 95+ Ban< for their cooperation during my internship at the ban<%

Name: Ab% &amid 'ar Enro ! No: " 01!2) "rogram: MBA @Mar<etingA

A#STRACT
The Success of the Multinational (rganiBations and financial institutions is considered to be lying in the Mantra of strong &* policies% -t is &* 4hich defines the progressive nature of the organiBations% -f for some reasons3 &uman *esource of the organiBations particularly financial ones is not effective3 then one should understand that it 4ill definitely have its implications on the health of the institution sooner or later% &istory is testament to the fact that ho4 organiBations have collapsed li<e a pac< of cards and 4ithin seconds because of the 4ea< internal Systems 5 Procedures coupled 4ith ineffective and unfriendly &* policies% 'hen 4e tal< of &* then 4e should understand that it involves active3 professionally thin<ing minds 4ith loads of fresh ideas so that the organiBations never finds itself handicapped in implementing various policies particularly business ones% -t is this &uman 7apital 4hich defines the future of the organiBations and 4hen 4e tal< of Financial (rganiBations then3 <eeping in vie4 their sensitivity3 it forms the most pivotal place 4ithin them% -t is 4ith this philosophy that &* has ta<en a centre stage in terms of defining the future3 strength and the ultimate fate of the Financial -nstitutions% -n recent years3 &* in itself encompasses a lot many sub#hr elements% Among these sub#elements Performance Management System is considered to be one of the foremost components% -t is this PMS system 4hich tells us about the bench strength and the

;uality staff 4ithin the organiBations 4ho can shoulder the higher responsibilities of the organiBation% -t is mandatory to <no4 in a more elaborate 4ay 4hat PMS is% That is 4hy it has to be understood in a much detailed 4ay and also on the basis of scientific tools as 4ell% To understand it 4ell3 4e undertoo< the project in the leading financial institute of 95+ ban< 4hich is considered the flagship of the economy of 95+ state% But before that it is to be understood the profile of the company%

Tab e of Content$
7ontents .o% Page

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C+A"TER '
INTRODUCTION "erformance management $y$tem

Performance management system is the integrated process by 4hich an agency involves its employees in improving organiBational effectiveness in the accomplishment of agency mission and strategic goals% Performance Management consists of: performance planning3 monitoring employee performance3 employee development3 evaluating employee performance3 and recognition% Performance management includes activities to ensure that goals are consistently being met in an effective and efficient manner% Performance management can focus on performance of the organiBation3 a department3 processes to build a product or service3 employees3 etc% Performance management is the process of creating a 4or< environment or setting in 4hich people are enabled to perform to the best of their abilities% Performance management is a 4hole 4or< system that begins 4hen a job is defined as needed% -t ends 4hen an employee leaves the organiBation% Armstrong and baron @"22>A defined it as 6A strategic and integrated approach to increasing the effectiveness of organiBations by improving the performance of the people 4ho 4or< in them and by developing the capabilities of teams and individual contributors "erformance a,,rai$a is a universal phenomenon in 4hich the organiBation is ma<ing judgment about one is 4or<ing 4ith and about oneself% -t serves as a basic element of effective 4or< performance% Performance appraisal is essential for the effective management and evaluation of staff% -t aims to improve the organiBational performance as 4ell as individual development% -t is the process of creating a 4or< environment or setting in 4hich people are enabled to perform to the best of their abilities% .ot 4ithstanding the glorious definitions given by human resource professionals3 itHs a straight for4ard process 4here the boss and his team members sit together at periodic intervals# it could be once a ;uarter or half a year or as in most organiBations a year% -n simple 4ords it should assess 4hat 4e did3 ho4 4e did and 4hat can be done better% Again itHs a feedbac< about performance3 not you as a person% (nce you get this issue sorted out3 you 4ould be able to assimilate it clinically% Co not get overtly defensive% Disten to it for 4hat its 4orth and you 4ill come out as a happier person after the discussion% Co not get too hassled 4ith the final ratings% +i$tory of "erformance A,,rai$a The history of performance appraisal is ;uite brief% -ts roots in the early !th century can be traced to TaylorHs pioneering Time and Motion studies% As a distinct and formal management procedure used in the evaluation of 4or< performance3 appraisal really dates from the time of the Second 'orld 'ar # not more than =! years ago% 8et in a broader sense3 the practice of appraisal is a very ancient art% -n the scale of things historical3 it might 4ell lay claim to being the 4orldIs second oldest profession%

According to Cule4icB @"2>2A3 JThere is a basic human tendency to ma<e judgments about those one is 4or<ing 4ith3 as 4ell as about oneself%J Appraisal3 it seems3 is both inevitable and universal% -n the absence of a carefully structured system of appraisal3 people 4ill tend to judge the 4or< performance of others3 including subordinates3 naturally3 informally and arbitrarily% This human inclination to judge can create serious motivational3 ethical and legal problems in the 4or<place% 'ithout a structured appraisal system3 there is little chance of ensuring that the judgments made 4ill be la4ful3 fair3 defensible and accurate% Performance appraisals have been increasingly implemented by most modern organiBation as a tool for employee assessment% 'hile analyBing the concept of Performance Management system3 it has undergone a sea change over the last fe4 decades% -n yester years3 the concept of PMS differed ;uite a bit as compared to the present system% -t has been rechristened3 redesigned and made more scientific one% Broadly spea<ing3 the change can be enumerated as under: Traditiona A,,rai$a $y$tem: # Performance appraisal is developed as a simple method of income justification% Appraisal used to decide 4hether the salary of an individual 4as justified or not% The decrease or increase in pay depends upon employeeHs performance% The process 4as firmly lin<ed to material outcomes% -f an employeeIs performance 4as found to be less than ideal3 a cut in pay 4ould follo4% (n the other hand3 if their performance 4as better than the supervisor e?pected3 a pay rise 4as in order% Dittle consideration3 if any3 4as given to the developmental possibilities of appraisal% -t 4as felt that a cut in pay3 or a rise3 should provide the only re;uired impetus for an employee to either improve or continue to perform 4ell% Sometimes this basic system succeeded in getting the results that 4ere intendedK but more often than not3 it failed% As a result3 the traditional emphasis on re4ard outcomes 4as progressively rejected% -n the "21!s in the United States3 the potential usefulness of appraisal as tool for motivation and development 4as gradually recogniBed% The general model of performance appraisal3 as it is <no4n today3 began from that time% Modern A,,rai$a Sy$tem: Performance appraisal is defined as a structured formal interaction bet4een a subordinate and a supervisor that usually ta<es the form of a periodic intervie43 in 4hich the 4or< performance of the subordinate is e?amined and discussed 4ith a vie4 to identify 4ea<ness3 strength and opportunities for improvement and s<ills development% -n many organiBations but not all appraisal results are used3 either directly or indirectly3 to help determine re4ard outcomes% That is3 the appraisal results are used to identify the better performing employees 4ho should get the majority of available merit pay increases3 bonuses3 and promotions% >

By the same to<en3 appraisal results are used to identify the poorer performers 4ho may re;uire some form of counseling3 or in e?treme cases3 demotion3 dismissal or decreases in pay%

Ste,$ to Conduct Em, oyee E-a uation$

Create Standard$ and .oa $: # before you can accurately evaluate an employeeIs performance3 you need to establish a system to measure that performance% For each employee3 you need to come up 4ith performance standards and goals% "erformance Standard$/ Performance standards describe 4hat you 4ant 4or<ers in a particular job to accomplish and ho4 you 4ant the job done% These standards apply across the board3 to every employee 4ho holds the same position% Ma<e sure your standards are achievable and directly related to the employeeIs job% .oa $/ Unli<e performance standards3 goals should be tailored to each employeeK they 4ill depend on the individual 4or<erIs strengths and 4ea<nesses% 8our 4or<ers can help you figure out 4hat reasonable goals should be% (nce you have defined the standards and goals for each position and 4or<er3 4rite them do4n and hand them out to your employees% This 4ill let your employees <no4 4hat you e?pect and 4hat they 4ill have to achieve during the year to receive a positive evaluation% 0ee, Trac) of Em, oyee "erformance Throughout the year3 trac< the performance of each employee% +eep a log for each 4or<er3 either on your computer or on paper% .ote memorable incidents or projects involving that 4or<er3 4hether good or bad% For e?ample3 you might note that a 4or<er 4as absent 4ithout calling in3 4or<ed overtime to complete an important project3 or participated in a community outreach program on behalf of the company% .i-ing the E-a uation At least once a year3 formally evaluate the 4or<er by 4riting a performance appraisal and by meeting 4ith the 4or<er% To prepare3 gather and revie4 all of the documents and records relating to the employeeIs performance3 productivity3 and behavior% *evie4 your log and the employeeIs personnel file% 8ou might also 4ant to ta<e a loo< at other company records relating to the 4or<er3 including sales records3 call reports3 productivity records3 time cards3 or budget reports% (nce you have revie4ed these records and gathered your thoughts about the employeeIs 4or<3 4rite the appraisal% Although an appraisal can ta<e many forms3 it should include: and ,ach standard or goal you set for that 4or<er and that job 8our conclusion as to 4hether the employee met the standard or goal3

The reasons that support your conclusion% 'hen you have finished 4riting the appraisal3 set up a meeting to discuss it 4ith your 4or<er% *emember3 this is li<ely to be one of the most important meetings you have 4ith your 4or<er all year3 so be sure to schedule enough time to discuss each issue thoroughly% At the meeting3 let the 4or<er <no4 4hat you thin< he L she did 4ell and 4hich areas could use some improvement% Using your evaluation as a guide3 e?plain your conclusions about each standard and goal% Disten carefully to your 4or<erIs comments and as< the 4or<er to 4rite them do4n on the evaluation form%

MET+ODS O1 "ER1ORMANCE A""RAISALS

INDI2IDUAL E2ALUTAION MET+ODS: Confidentia Re,ort:# This is perhaps the oldest techni;ue% -t is a descriptive report prepared3 generally at the end of the year3 by the employeeIs immediate senior 4herein he highlights the subordinateIs strengths and 4ea<nesses of performance in the past year% The inherent fla4 here is that the feedbac< on the report prepared is not provided to the employee for 4hom this has been 4ritten because every report is <ept confidential% E$$ay E-a uation Method:# Under this method3 the rater is as<ed to 4rite an essay on the employeeHs strengths3 4ea<nesses and potentials% This techni;ue is more valid and formal than complicated methods of appraisal% The biggest dra4bac< in this method is that it is difficult to combine and compare the essays as it may touch upon various aspects of oneHs performance and ;ualifications% Another dra4bac< is the variability of length and content in the essays%

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Critica Incident$ Method:# This techni;ue is appreciated by many employees and employers because it is natural and gives a supervisor actual factual incidents to discuss 4ith the employee% -n this method3 supervisors are as<ed to <eep a record on each employee and to record actual incidents of positive and negative behavior% The discussion bet4een the supervisor and his subordinate deals 4ith actual behavior and not on traits% &ere the performance of the employee and not his personality gets criticiBed% The employee 4ill specifically get to <no4 ho4 to perform differently if he 4ants to be rated higher the ne?t time%

Chec) i$t:# -n the 7hec<list Techni;ue3 the supervisor is given a paper that has a set of statements that are e?pressive and purposive in nature3 and the ans4ers to 4hich are J8esJ or J.o%J The usual and typical ;uestions are 4hether or not the performance 4as satisfactory and 4hether or not the standards 4ere met% .ra,hica Rating Sca e:# This method is both consistent and reliable% A personHs ;uality and ;uantity of 4or< is assessed in a graphic scale% A variety of factors are ta<en into consideration including hisLher personal traits li<e cooperation and reliability% Although the graphic scale is 4idely used3 it is under fre;uent controversy% But the graphic scale is more economical to develop and it is not complicated% Therefore it is easily acceptable by raters% #eha-iora Anchored Rating Sca e 3#ARS4:# This method relies on the use of critical incidents to serve as anchor statements on a scale% A BA*S rating form usually contains = to "! specifically defined performance dimensions3 each 4ith 1 to =critical incident anchors @both positive 5negativeA% ,mployee prefer the using of this method instead of others3 as it seems that they become more committed3 less tense 5 more satisfied than incase using other methods% 1orced Choice Method:# This techni;ue is unbiased in comparison to other techni;ues% This also does not involve the intervention of a third party in appraisal% -n this method3 the raters are as<ed to choose from among groups of statements those that best fit the individual employee 4ho is rated and those that least fit himLher% The statements are then 4eighed and scored the same 4ay psychological tests are scored% This techni;ue is limited to lo4er and middle management levels in companies as the levels of jobs are similar to ma<e standard common forms 4ith this group% Management by Ob5ecti-e$ 3M#O4:# n this method3 the emphasis is on tangible and measurable goals% The <ey result areas @+*AA and the means to attain ma?imum results are concentrated upon% &ere3 the superior lets her team <no4 the +*As and

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the results e?pected at the end of the year% Also3 the 4or< is delegated3 and the authority responsibility relationship is defined% MULTI"LE/"ERSON E2ALUATION MET+ODS: Ran)ing Method:# This method is useful 4hen it becomes necessary to compare people 4ho 4or< for different supervisors3 4hen there are several individual ratings an 4hen appraisal forms are not particularly useful% This method is also employed to compare people in different units of an organiBation% "aired Com,ari$on:# The superior compares each individual to all the other individuals 4or<ing in his team% The subordinates are all ran<ed on the basis of criteria and traits analyBed% The comparison system could be from the best to the 4orst or the 4orst to the best%

1orced Di$tribution Method:# To eliminate the element of bias from the raterHs ratings3 the evaluator is as<ed to distribute the employees in some fi?ed categories of ratings li<e on a normal distribution curve% The rater chooses the appropriate fit for the categories on his o4n discretion% OT+ER MET+ODS: (6& Degree A,,rai$a Method:# Farious sta<eholders3 such as the employeeIs immediate superior3 other superiors 4ho are not the bosses but 4ho are in contact 4ith the employee on a daily basis3 the top management and the employeeIs subordinates3 all provided data on his performance% All )=! degrees of the employeeIs 4or<ing and 4or<ing style are analyBed but involve the 4hole circle of individuals 4ith 4hom the employee interacts for 4or<% This feedbac< is then passed onto the employee to increase productivity% 1orced Choice Rating:/ This techni;ue is unbiased in comparison to other techni;ues% This also does not involve the intervention of a third party in appraisal% -n this method3 the raters are as<ed to choose from among groups of statements those that best fit the individual employee 4ho is rated and those that least fit himLher% The statements are then 4eighed and scored the same 4ay psychological tests are scored% This techni;ue is limited to lo4er and middle management levels in companies as the levels of jobs are similar to ma<e standard common forms 4ith this group 1ie d Re-ie*:# -n this method3 a senior member of the &* department or a training officer discusses and intervie4s the supervisors to evaluate and rate their respective subordinates% A major dra4bac< of this method is that it is a very time consuming method% But this method helps to reduce the superiorsH personal bias%

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A$$e$$ment center$:# -n assessment centers3 the assessment for future performance or potential of the employee is assessed in contrast to the past performance% -ndividuals from different departments are brought together and they spend t4o to three 4or<ing days on group assignments similar to ones they 4ill be handling if they 4ere promoted% The pooled judgment of the observers leads to order of merit ran<ing on the participants% +uman Re$ource Accounting: &uman resource accounting deals 4ith the cost of and contribution of human resources to the organiBation cost of the employees includes costs of man po4er planning3 recruitment3 selection induction3 placement3 training development3 ages and benefits etc% employee contribution is the money value of employee service3 4hich can be measured by labor productivity or value added by human resources

7hy Conduct Em, oyee E-a uation

,mployers 4ho routinely revie4 employee performance and 4ho conduct regular employee evaluations reap tremendous benefits: 8our employees 4ill <no4 4hat you e?pect of themK 4ill receive feedbac<3 praise3 and criticism of their 4or<K and 4ill have notice of any shortfalls in their performance or conduct% 8ou can recogniBe and re4ard good employees and identify and coach 4or<ers 4ho are having trouble% The communication involved in any good evaluation process ensures that you 4ill stay in tune 4ith the needs and concerns of your 4or<force% -dentify employee#training needs% Provide the opportunity for organiBational diagnosis and development% Facilitate communication bet4een employee and administrator%

The evaluation process also nips a lot of employment problems in the bud% Performance evaluations can <eep you out of legal trouble by helping you trac< and document your employeesI problems% -f you ever need to fire or discipline a 4or<er3 you 4ill have 4ritten proof that you gave the employee notice and a chance to correct the problem 4hich 4ill go a long 4ay to4ards convincing a jury or judge that you acted fairly%

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"erformance Management Sy$tem at 890 #an)

9 5 + Ban< used to earlier follo4 a traditional PMS system 4hich 4as divided into t4o categories the (perational one for the employees having direct contact 4ith the clients and the .on#(perational one for the employees 4ho 4ere not in direct contact 4ith the clients% Both the categories had different tiers through 4hich the appraisal 4ent and at each level the *evie4ing Authority had the authority to change the ratings or appraisal of the prior appraiser% The different levels through 4hich the appraisals 4ent in operational and non operational categories 4ere:#

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.on (perational -nitiating officer Appraising authority *eceiving authority Accepting authority &*C @President &*A

(perational -nitiating officer Appraising authority *eceiving authority Accepting authority @&*CA

All though this process 4as a good one but the number of tiers through 4hich the appraisals 4ent in operational and non operational levels 4as sometimes different% At a time 4hen the non operating officer 4as being appraised by $#1 people an operating officer in some cases 4as being appraised by just )#$ people or tiers% This difference in the tiers through 4hich the appraisal 4ent through made the &* department of the ban< to thin< and shift from traditional to ne4 appraisal method% Besides3 in order to bring transparency and to have more methodical and scientific approach of the appraisal System3 ban< decided to adopt ne4 Performance Management system based on latest methods adopted across the sector% The latest tool of performance management system being follo4ed by organiBations across is being# 6get paid according to 4hat you contribute:# the focus of the organiBations is turning to performance management and specifically to individual performance%

Ban< is in constant mould of adopting best possible 4ays to ma<e its &* policies as employee friendly as possible% -n line 4ith that and in order to create competitive bunch of employees across all cadres3 Ban< has shed its old Appraisal System and has too< on 7ontemporary Performance Management System 4hich is methodical and analytical one% The ne4 system is already in operation through its -T module 6People System:% The ne4 system is based on )=! degree system 4hich 4ill encompass all the components of employeesH performance for a year%

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For ma<ing PMS more effective and result oriented3 it has been decided to lin< the same 4ith incentives3 re4ards and other benefits of the employees @variable payA% The rationale behind the lin<age is to enhance the emotional and intellectual aspects of the manpo4er available 4ith the organiBation% The ne4 system is already operational from "st April !"!% The incentive pac<age is li<ely to cover a 4ide range of issues closely related 4ith the performance of the employees of the ban<% -t is in place to mention that the ne4 system has been given the name of 6DAR"AN: just to impress upon the employees that the ban< values them the most and they should be able to see their performance round the cloc< in the most translucent 4ay% Moreover3 under the ne4 system3 9ob Cescriptions @9CHsA in the form of different roles of all the employees have been defined @as per attachmentA% -tL they @9CHsA is Lare li<ely to benefit the employees manifold as they carry +*AHs @+ey *esponsibility AreasL Performance -ndicators 4ith the Performance Appraisal System and 4ill help in developing score cards for deciding career path3 succession planning3 variable pay @after lin<ageA etc% 7onversely3 it is li<ely to help the organiBation as 4ell3 in recogniBing different roles of the employees and their suitability 4ithin the organiBation%

C+A"TER/%
LITERATURE RE2IE7
Meaning

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A literature revie4 is a body of te?t that aims to revie4 the critical points of current <no4ledge and or methodological approaches on a particular topic% Diterature revie4s are secondary sources3 and as such3 do not report any ne4 or original e?perimental 4or<% Most often associated 4ith academic#oriented literature3 such as theses3 a literature revie4 usually precedes a research proposal and results section% -ts ultimate goal is to bring the reader up to date 4ith current literature on a topic and forms the basis for another goal3 such as future research that may be needed in the area% Some of the re$earche$ done: '4 Thi$ re$earch *a$ conducted by Deborah 1! #oice and #rian +! 0 einer on :De$igning effecti-e ,erformance a,,rai$a $y$tem$; *eports that effective performance appraisal systems help to create a motivated and committed 4or<force% To be effective they re;uire the support of top management to sho4 their commitment and to translate organiBational goals and objectives into personaliBed employee specific objectives% ,?plains a frame4or< for the implementation of performance appraisal and in particular the need for appropriate training for supervisors3 raters and employees3 a system for the fre;uent revie4 of performance3 accurate record <eeping3 a clearly defined measurement system3 and a multiple rater group to perform the appraisal% Ceveloping an effective performance appraisal system re;uires strong commitment from top management: if the system does not provide the lin<age bet4een employee performance and organiBational goals3 it is bound to be less than completely effective% To build lin<ages employees must have individualiBed objectives and performance criteria 4hich allo4 them to relate directly to the organiBation% (bjectives should be developed jointly bet4een the supervisor and the employee% (nce the objectives are determined3 appraisals should be performed fre;uently to help build the direct communication lin<% Support documentation for performance should be maintained by both the employee and supervisor in order for the appraisal process to be conducted in a productive manner% (rganiBations operating in this time of continual change and global competition cannot afford unmotivated and uncommitted employees% An effective system of performance appraisal is a major component of an organiBation that allo4s every employee to feel that hisLher contribution has contributed to the success of the organiBation and a desire to add to that success%

%4 Thi$ re$earch *a$ conducted by Ste-en A! 7at$on on :Moti-ate $taff to ta)e ,erformance a,,rai$a $ $eriou$ y; "0

/etting employees to ta<e performance evaluations seriously can be tough3 especially if the appraisal process has been e?ecuted poorly in the past% The appearance of disinterest to4ard the performance appraisal process can actually relate to a variety of feelings and conditions that employees may have: a lac< of understanding of 4hat is e?pectedK a lac< of focus on 4hat is importantK disillusionment to4ard the 4or<3 team3 or the performance appraisal processK and stress @personal and professionalA% ,ffective managers can promote employee respect for the appraisal process by pinpointing and addressing issues that may be affecting their enthusiasm to4ard their performance% The best 4ay to motivate employees to ta<e an active and interested role in their performance appraisals is to create a team environment 4here e?pectations and standards are clearly understood and 4here performance assessment is treated as an ongoing activity% ,mployees ;uic<ly become disenchanted 4ith a once#a#year appraisal document that ends up in a filing cabinet% Cevelop a management strategy for the appraisal process that incorporates performance e?pectations into the 4or< culture of the team3 includes team feedbac< and involvement3 and provides individual performance plans that are relevant and realistic%

(4 Thi$ re$earch *a$ conducted by Tom Coen$ and Mary 8en)in$ on :Abo i$hing "erformance A,,rai$a $%: This is an e?cellent paper going into detail about the problems and destructive nature of the annual performance revie4% -t reveals that Performance appraisals impede genuine feedbac<3 and thereHs also no solid evidence that it motivates people or lead to meaningful improvement% -n fact it usually produces distorted and unreliable data about the contribution of employees. Ta<en as a 4hole3 the research decidedly demonstrates that appraisals are ineffective and cause a spate of undesirable3 unintended effects% (ne of the major problems 4ith the process is the 6annual: aspect of itK a year is far too long a time frame to evaluate and give feedbac< to any 4or<er3 but especially a <no4ledge 4or<er% There is a strong case for getting rid of formal PAIs altogether and replacing them 4ith a 4or< culture 4here the employee ta<es responsibility for soliciting feedbac< on his o4n performance and development% -t recommends you simply stop a4arding merit increases3 e?cept for truly e?ceptional performance results3 a situation that applies only to a handful of your employees% -nstead of merit amounts3 pay everybody a competitive mar<et rate3 and timely cost#of#living increases plus team# based bonuses3 gain#sharing3 company#4ide profit sharing3 and the li<e%

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<4 Thi$ re$earch *a$ conducted by Robert #aca on :7hat i$ the "oint Of "erformance A,,rai$a =; -n this paper3 author e?plains 4hat the real purpose of performance appraisals should be because if 4e loo< at the 4ay performance appraisals as they are actually done in real 4orld companies3 4e 4ill more often than not3 find that the point is completely lost and employee revie4s become an empty paper chase ## hated by all3 and simply costing more than they are 4orth% The paper also gives us some 4ays in 4hich appraisal can be improved in future li<e The process of identifying 4hat has gotten in the 4ay of better performance3 and ho4 manager and employee can 4or< together in the future3 to improve it% Managers put a4ay the Jblaming stic<J in appraisals and move to a cooperative3 dialogue approach3 the 4hole process can become more comfortable and effective% The manager and employee come on the same side3 and start 4or<ing to4ards the same goals3 getting better and better%

The paper gives us reason as to 4hy managers are uncomfortable doing appraisals is because people underta<e them for the 4rong reasons and 4rong perspective3 4hich ends up putting the manager and the employee on different JsidesJ% Appraisals are used for determining pay increases3 4ho gets let go3 4ho gets promoted% (ften they are used to focus on 4hat people have done 4rong% -f 4e shift from affi?ing blame3 to identifying barriers to performance 4e begin to remove the fear and dread people have about these JappraisalsJ% 'hen 4e focus on the present and the future3 4e change our focus to 4hatIs been to 4hat can be better tomorro4% The most important purpose or goal of the appraisal is to improve performance in the future%%%and not just for the employee% Managers can get valuable information from employees to help them ma<e employeeIs jobs more productive% 'or< units and organiBations can identify problems that interfere 4ith everyoneIs 4or<% >4 Thi$ re$earch *a$ conducted by #?rd 0u-aa$ on :"erformance a,,rai$a $ @ a doub e/edged $*ord; This research records the effects a successful performance appraisal has on 4or< performance3 company loyalty and turnover intention% The research sho4s that there is roughly an e;ual probability of performance appraisals ma<ing things get 4orse as there is of them ma<ing a positive contribution% A successful performance appraisal only has a positive effect on 4or< performance in the case of employees 4ho already have a high intrinsic job motivation% They are "2

among the group of employees 4ho already provide the best 4or< performance and ta<e personal responsibility for their o4n development and doing their job% -n the case of employees 4ith lo4 intrinsic motivation3 performance appraisals can be counter#productive as there is a negative lin< bet4een satisfaction 4ith the performance appraisal and 4or< performance for those 4ith lo4 intrinsic motivation% But these are the same people 4ho are most in need of this type of &* tool% The research also points out that a successful performance appraisal can have a positive effect on the employeeHs company loyalty3 4hile also reducing the employeeHs turnover intention% But this only applies to half of the employees 4ho regard the performance appraisal as a positive e?perience%

64 Thi$ re$earch *a$ conducted by E! So taniA R!#! -an der MeerA and 8! .ennard on :"erformance management: TBM -er$u$ +RM @ e$$on$ earned;! This article focuses on the <ey research findings and challenges pertaining to evaluation and managing the employee performance in the conte?t of ;uality management derived from the literature survey3 ;uestionnaire survey3 and a semi# structured intervie4 survey% Topics include the generic criteria of the current &* performance evaluation systems3 the main criteria of a ;uality#driven &* performance evaluation system3 and the e?tent to 4hich &* performance evaluation systems have been adjusted to integrate TMM re;uirements% Thus3 the goal of the article is to revie4 the published literature and highlight the actual practices and trends in the &* performance evaluation in organiBational environments 4ith a ;uality orientation% -t concludes that by highlighting 4here 4e have made progress3 ac<no4ledge critical gaps3 and attempt to stimulate additional research

C4 Thi$ re$earch *a$ conducted by 8udith Lindenberger on :+o* to .i-e Em, oyee 1eedbac)!; 'hy is it that many of us put off giving feedbac< to our employees even though 4e intuitively <no4 that giving and getting honest feedbac< is essential to gro4 and develop and to build successful organiBationsN Maybe it is because there are so many 4ays to scre4 it up% /iving and receiving clear and constructive feedbac< re;uires courage and s<ill3 and is essential to building good relationships 4ith and motivating pea< performance from our team% -f 4e 4ant to improve employee performance through the use of performance appraisals or employee revie4s3 you must be able to provide employee feedbac< in a 4ay that is non#threatening and helpful% The paper gives us some tips as to ho4 to do it right !

Be proactive% .ip issues in the bud and avoid the messy interpersonal tangles that result from neglected communication% Meeting 4ith employees on a monthly or ;uarterly basis instead of annually% Be specific% -tHs never easy to provide negative feedbac< regarding someoneHs 4or<3 but as a leader you canHt avoid it% Be as clear as possible 4hen providing feedbac< @both positive and negativeA% Cevelop a progress plan% Be clear about the specific changes in behavior that you e?pect in a specific period of time3 and follo4 up as scheduled% Din< employeesH performance to organiBational goals% *einforce the value of your employeesH contributions by giving specific e?amples of ho4 their 4or< and positive behaviors serve the organiBation and its customers

D4 Thi$ re$earch *a$ conducted by C inton O! Longenec)er on :Truth or Con$eEuence$: ,o itic$ and ,erformance a,,rai$a $; Performance appraisal is an objective3 rational3 and systematic attempt on the part of the manager to accurately describe subordinate performance% &o4ever3 recent research has demonstrated that in reality managers have some very pragmatic concerns in evaluating their people% These concerns are clearly more pressing than simply generating brutally accurate ratings% -n a dynamic organiBational environment3 accuracy might not be as important to a manager as discretion3 effectiveness3 and @ultimatelyA survival% Managers re;uire latitude and fle?ibility in their efforts to ma<e their departments productive% Put bluntly3 occasionally managers feel the need to manipulate ratings in the perceived best interest of their employees3 their departments3 and perhaps even themselves% Managers 4ill use the appraisal process to their advantage3 rather than allo4ing the appraisal event to derail their efforts for the sa<e of mere accuracy in employee performance ratings% As a conse;uence3 there are other barriers to the optimal use of appraisal as a performance#enhancing device% The major upshot of recogniBing of ho4 appraisals are really conducted is t4ofold: first3 rating accuracy is automatically derailedK second3 political activity on the part of managers can become a prominent feature of the appraisal process and can have a debilitating effect on employee trust3 motivation3 and development% The occurrence of politically induced behavior in appraisals is essentially a natural phenomenonK it should be e?pected3 and it is not li<ely to be stamped out but it can be reduced if the organiBation ta<es appraisals seriously from the top do4n and builds a culture that actively supports appraisal efforts% Managers must be allo4ed discretion in their use of performance appraisal% And they must remember that developing their s<ills both as managers and raters 4ill most li<ely increase their motivation to ma<e accurate appraisals and diminish their desire to manipulate ratings% ManagersI concerns go 4ell beyond mere accuracy in ratings% &o4ever3 discreet appraisals are not

"

necessarily at odds 4ith accurate appraisals% MinimiBing the politics that can negatively affect the process can help a manager turn a potentially useful vehicle for performance improvement into an instrument for achieving performance effectiveness%

F4 Thi$ re$earch *a$ conducted by 7i $onA .era d L! .ooda A +! L oydA 8r! on :The "erformance A,,rai$a Inter-ie*; A performance appraisal intervie4 is a primary and important conte?t for the supervisor and employee to 4or< together to achieve superior performance% A survey of the research literature reveals that the appraisal intervie4 functions to provide feedbac< on performance3 to counsel and provide help3 to discover 4hat the employee is thin<ing3 to teach the employee to problem solve3 to help the employee discover 4ays to improve3 to set performance goals3 and to discuss compensation% -n addition3 the literature reveals three reasons that determine fre;uency of intervie4: the nature of the goal of the intervie43 the <ind of position the employee has in the organiBation3 and the characteristics of the employeeIs performance% *esearch on climate is centered on praise3 criticism and the superior#subordinate relationship3 4hile that on employee involvement in the performance appraisal process is divided into preparation and actual participation in the intervie43 including goal setting% Future research in this area should investigate employee development3 credibility and intervie4er style3 evaluation and climate3 and rhetorical strategies of the intervie4ee% '&4 Thi$ re$earch *a$ conducted by Ed$on "inheiro de LimaA Sergio E! .ou-ea da Co$taA and 8anni$ 8! Ange i$ on :Strategic ,erformance mea$urement $y$tem$: a di$cu$$ion about their ro e$; The purpose of this paper is to present a theoretical discussion about the roles that a performance measurement system should perform% The enterprisesI operations systems and environments3 characteriBed by their comple?ity and dynamics3 are challenging the strategic operations management models% The structures3 processes and spaces 4ere the lens used to study the performance measurement system and contributed to organiBe the concepts in tables3 that is3 roles statements 4ere created based on these guidelines% These tables synthesiBed and identified the main roles that the system should perform3 stating their definitions and related perspectives% The understanding of the performance measurement system roles contributes to improve design3 implementation and use of the performance system% The paperIs

main contribution is the theoretical underpinning used to develop the performance frame4or<% The system design approach used 4ill enable further research into strategic performance measurement application for the design and use of such a system% 7ontinuous improvement3 organiBational learning and the management of change process 4ill be re;uired properties for the strategic management of the operations function%

''4 Thi$ re$earch *a$ conducted by Ste-en +! A,,e baumA Da-id NadeauA Michae Cyr on :"erformance e-a uation in a matriG organiHation; The purpose of this article is to e?amine and ultimately suggest the most effective method 4ith 4hich to evaluate employees operating 4ithin a matri? organiBation% This article consists of a comprehensive revie4 of literature demonstrating functional areas 4ithin a matri? organiBation as 4ell as employee evaluation methods 4ithin various organiBations% -t is presented in three sections: defining a matri? organiBationK demonstrating effective evaluation methods and strategiesK and3 finally3 ho4 the t4o should 4or< together% 7ritical incidents are interspersed throughout the article in order to demonstrate ho4 the research compares to the methods employed by a leading aviation engineering firm% -neffective evaluation methods 4ithin matri? organiBations can lead to lo4er employee morale as 4ell as an ambiguous understanding of employee roles 4ithin such an organiBation% ,mployee and management buy in and support of an evaluation system and its goals are crucial to the success of the program% The multi# rater system appeared to be most effective% Several tools e?ist to help employers effectively evaluate their employees in a constructive and effective manner% Among them are clear job description and corporate structure3 follo4ed by a revie4 of performance by both functional and project managers% /iven the limited research 4ith respect to evaluations 4ithin a matri? structure3 this paper demonstrates an understanding of a subject that has not been ade;uately e?plored%

'%4 Thi$ re$earch *a$ conducted by #a HerA 7i iam 0!A Su $)yA Lorne M on :"erformance rating$ accuracy: $ome methodo ogica and theoretica concern$;! ,?amined methodological and theoretical issues related to accuracy measures used as criteria in performance#rating research% First3 they argued that e?isting operational definitions of accuracy are not all based on a common accuracy definitionK they report data that sho4 generally 4ea< relations among different accuracy operational definitions% Second3 different methods of true score development are also e?amined3 and both methodological and theoretical limitations are e?plored% /iven the )

difficulty of obtaining true scores3 criteria are discussed for e?amining the suitability of e?pert ratings as surrogate true score measures% Dast3 the usefulness of using accuracy measures in performance#rating research is e?amined to highlight situations in 4hich accuracy measures might be desirable criterion measures in rating research% '(4 Thi$ re$earch *a$ conducted by 0in 1ai E ic) 7ongA 8e$$ica I!I! 0*ong on :UNCO2ERIN. T+E +IDDEN .OALS IN "ER1ORMANCE A""RAISALS; Based on: ,ffects of *ater /oals on *ating Patterns: ,vidence from an ,?perimental Field Study% There are times 4hen managers present their evaluations and their vie4s differ 4idely% *esearches regard this as rating errors3 suggesting that this may be due to either @aA People are not able to ma<e perfect evaluation3 or @bA the evaluation tools are not designed good enough% The present research3 ho4ever3 suggests that managers may intentionally create the JerrorsJ in order to achieve different goals% Some raters may be more lenient and inflate the evaluation because they 4ant to achieve a more harmonious 4or< group or perhaps better relations 4ith ratees% (thers may have political goals and so manipulate their ratings to enhance or protect their o4n self interests The authors conducted this research on undergraduate students 4ho 4ere 4or<ing on projects in small groups and 4ere re;uired to do peer evaluations% They produced evaluations mid#4ay through the project and at the end of the project that e?plicitly set out several goals% First 4as the Jidentification goalJ to identify strengths and 4ea<nesses% The second goal 4as harmony 4ithin the group% The third goal 4as fairness% The authors also tested for a motivating goal3 to see if raters gave appraisals that encouraged poor performers to <eep contributing and discouraged good performers from getting complacent% The results uphold the notion that ratersI evaluations are influenced by underlying goals and that these goals can be manipulated% The present study enables us to conclude 4ith confidence that rater goals e?ert influences on rating patterns% Practitioners may need to ma<e ne4 interpretations of 4hat have been called IerrorsI in ratings3 such as leniency and range restrictions% These may not be errors but the results of ratersI intentions to achieve certain goals% Similarly3 disagreements among raters 4ho evaluate the same set of ratees could be attributable to raters trying to

achieve different goals% Specifying rater goals in a performance evaluation may be a useful 4ay to minimiBe goal discrepancies among raters% '<4 Thi$ re$earch *a$ conducted by Robert #aca on :Diagno$ing "erformance "rob em$; .o amount of time spent on solving a performance problem 4ill 4or< if the manager and employee donIt <no4 4hat is causing the problem% Too often the root cause of barriers to performance is not identified correctly3 and so performance continues to suffer% This article maps out a process for diagnosing performance problems% (ne of the toughest tas<s for any manager or supervisor is to determine the cause of a performance problem% Since decisions to remediate the problem 4ill depend on the diagnosis3 accurate assessment is crucial% This article outlines a model of factors influencing employee performance3 so that 4e are less li<ely to ignore a possible source of performance deficit% A Se-en 1actor Mode The seven factors model can influence or determine the level of performance% These factors are multiplicative in nature% 1actor ': A,titude Aptitude refers to a personIs native ability to perform the tas< or tas<s 1actor %: S)i Le-e ,ven the simplest responsibilities re;uire s<ills% % 1actor (: Under$tanding of Ta$) A person must understand the nature of the tas<3 and 4hat is e?pected% 1actor <: Choice to EG,end Effort This and the ne?t factor are motivational factors% Assessing 4hether there is a motivational problem is difficult3 and can best be done by e?amining other indicator behaviors% 1actor >: Choice of Degree of Effort to EG,end Sometimes effort is not an onLoff thing% An employee may be putting in a limited amount of effort and therefore producing inferior results% 1actor 6: Choice to "er$i$t Performance re;uires that effort be initiated and sustained over time% 1

1actor C: Out$ide 1actor$ Performance can be reduced due to factors beyond the control of the individual% The organiBation itself may be setting barriers to performance3 or uncooperative co# 4or<ers and managers may contribute% Conc u$ion -t is important that performance problems be addressed as soon as they occur3 and the above factors be e?amined to determine 4hether they are contributing to the problem% By 4or<ing 4ith the employee in a cooperative 4ay3 it is possible to identify and remediate some of the underlying causes of 4or< performance problems%

C+A"TER/(
INDUSTRI "RO1ILE
-nitially all the ban<s in -ndia 4ere private ban<s3 4hich 4ere founded in the pre# independence era to cater to the ban<ing needs of the people% -n "2 "3 three major ban<s i%e% Ban<s of Bengal3 Ban< of Bombay3 and Ban< of Madras3 merged to form -mperial Ban< of -ndia% -n "2)13 the *eserve Ban< of -ndia @*B-A 4as established and it too< over the central ban<ing responsibilities from the -mperial Ban< of -ndia3 transferring commercial ban<ing functions completely to -B-% -n "2113 after the declaration of first#five year plan3 -mperial Ban< of -ndia 4as subse;uently transformed into State Ban< of -ndia @SB-A% Follo4ing this3 occurred the nationaliBation of major ban<s in -ndia on "2 9uly "2=2% The /overnment of -ndia issued an ordinance and nationaliBed the "$ largest commercial ban<s of -ndia3 including Punjab .ational Ban< @P.BA3 Allahabad Ban<3 7anara Ban<3 7entral Ban< of -ndia3 etc% Thus3 public sector ban<s revived to ta<e up leading role in the ban<ing structure% -n "2>!3 the /(- nationaliBed = more =

commercial ban<s3 4ith control over 2"O of ban<ing business of -ndia% -n "22$3 the *eserve Ban< (f -ndia issued a policy of liberaliBation to license limited number of private ban<s3 4hich came to be <no4n as .e4 /eneration tech#savvy ban<s% /lobal Trust Ban< 4as3 thus3 the first private ban< after liberaliBationK it 4as later amalgamated 4ith (riental Ban< of 7ommerce @(B7A% Then &ousing Cevelopment Finance 7orporation Dimited @&CF7A became the first @still e?istingA to receive an Iin principleI approval from the *eserve Ban< of -ndia @*B-A to set up a ban< in the private sector% At present3 Private Ban<s in -ndia includes leading ban<s li<e -7-7- Ban<s3 -./ Fysya Ban<3 9ammu 5 +ashmir Ban<3 +arnata<a Ban<3 +ota< Mahindra Ban<3 SB7ommercial and -nternational Ban<3 etc% Undoubtedly3 being tech#savvy and full of e?pertise3 private ban<s have played a major role in the development of -ndian ban<ing industry% They have made ban<ing more efficient and customer friendly% -n the process they have jolted public sector ban<s out of complacency and forced them to become more competitive% Ma5or "ri-ate #an)$ in India Ban< of Punjab Ban< of *ajasthan Cevelopment 7redit Ban< Federal Ban< &CF7 Ban< -7-7- Ban< -ndus-nd Ban< -./ Fysya Ban< 9ammu 5 +ashmir Ban< +arnata<a Ban< United 'estern Ban< UT- Ban<

C+A"TER/<
COM"ANI "RO1ILE
Com,any +i$tory 9ammu and +ashmir Ban< Dimited3 more commonly referred to as 95+ Ban<3 4as incorporated on "st (ctober3 "2)> and commenced its business from $th 9uly3 "2)2 at in +ashmir @-ndiaA% The Ban< 4as the first in the country as a State o4ned ban<% -n "2$03 at the time of partition of Pa<istan3 t4o out of the total ten branches of the ban<3 namely the ones in MuBaffarabad and Mirpur3 fell to the other side of the line of control @no4 Pa< (ccupied +ashmirA3 along 4ith cash and other assets% At that point of time3 in <eeping 4ith the e?tended 7entral la4s of the state3 95+ Ban< 4as categoriBed as a /overnment 7ompany3 as per the provisions of -ndian 7ompanies

Act "21=% -t 4as in the year "20" that 9ammu and +ashmir Ban< 4as granted the status of a IScheduled Ban<I% Five years later3 it 4as declared as JAJ 7lass Ban<3 by the *eserve Ban< of -ndia @*B-A% As the years passed on3 the ban< started achieving more and more success% Today3 it boasts of more than 1!! branches across the country% -t 4as only recently that 9ammu and +ashmir Ban< became a "! billion dollar company% /overned by the 7ompanies Act and Ban<ing *egulation Act of -ndia3 it is regulated by *B- and S,B-% -t finds a listing on the .ational Stoc< ,?change @.S,A and Bombay Stoc< ,?change @BS,A as 4ell%

UniEue Characteri$tic$ 9 Ser-ice$

95+ Ban< carries out ban<ing business of the 7entral /overnment -nspite of a government e;uity holding of 1) per cent3 9ammu 5 +ashmir Ban< @95+ Ban<A is regarded as a private sector ban< 95+ Ban< is the one and only ban<er and lender of last resort to the /overnment of 95+ Plan and non#plan funds3 ta?es and non#ta? revenues are routed through the 95+ Ban< 95+ Ban< claims the distinction of being the only private sector ban< that has been designated as agent of *B- for ban<ing The services of 95+ Ban< are utiliBed for the purposes of disbursing the salaries of /overnment officials 95+ Ban< collects ta?es pertaining to 7entral Board of Cirect Ta?es3 in 9ammu 5 +ashmir

#rief "rofi e 9ammu 5 +ashmir Ban< is the only Ban< in the country 4ith majority o4nership vested 4ith a state government P the /overnment of 9ammu 5 +ashmir% -t is the sole ban<er to the /overnment of 9ammu 5 +ashmir% 95+ Ban< functions as a universal ban< in 9ammu 5 +ashmir and as a specialiBed ban< in the rest of the country% -t is also the only private sector ban< designated as *B-Hs agent for ban<ing business3 and carries out the ban<ing business of the 7entral /overnment3 besides collecting central ta?es for 7BCT% 95+ Ban< follo4s a t4o#legged business model 4hereby it see<s to increase lending in its home state 4hich results in higher margins despite modest volumes3 >

and at the same time3 see<s to capture niche lending opportunities on a pan#-ndia basis to build volumes and improve margins% 95+ Ban< operates on the principle of Qsocially empo4ering ban<ingH and see<s to deliver innovative financial solutions for household3 small and medium enterprises% The Ban< is listed on the .S, and the BS,% -t has a trac< record of uninterrupted profits and dividends for four decades% The 95+ Ban< is rated P"R3 indicating the highest degree of safety by Standard 5 Poor and 7*-S-D% 2ISION 6To catalyBe economic transformation and capitaliBe on gro4th%: (ur vision is to engender and catalyBe economic transformation of 9ammu and +ashmir and capitaliBe from the gro4th induced financial prosperity thus engineered% The Ban< aspires to ma<e 9ammu and +ashmir the most prosperous state in the country3 by helping create a ne4 financial architecture for the 95+ economy3 at the center of 4hich 4ill be the 95+ Ban<% MISSION (ur mission is t4o#fold: To provide the people of 95+ international ;uality financial service and solutions and to be a super#specialist ban< in the rest of the country% The t4o together 4ill ma<e us the most profitable Ban< in the country% #rand Identity The ne4 identity for 95+ Ban< is a visual representation of the Ban<Hs philosophy and business strategy% The three colored s;uares represent the regions of 9ammu3 +ashmir and Dada<h% The counter#form created by the interaction of the s;uares is a falcon 4ith outstretched 4ings P a symbol of po4er and empo4erment% The synergy bet4een the three regions propels the ban< to4ards ne4 horiBons% /reen signifies gro4th and rene4al3 blue conveys stability and unity3 and red represents energy and po4er% All these attributes are integrated and assimilated in the 4hite counter#form% Cor,orate Socia Re$,on$ibi ity 9 5 + Ban< has been playing a varying role since its emergence in "2)>% Braving Political and /eographical obscurities3 it has been a brilliant and inspiring success story% (ne can candidly accept this success story by the fact that today ban< is having more than )1 thousand crore deposits and around ) thousand crore credit portfolio% The functions of the ban< revolves around the t4ofold developmental story#one for itself and second for the entire state% Probably3 one can easily say that the ban< has 4or<ed above the principle of self benefitK rather it has 4or<ed prosperity of the entire state% Facts and figures are testament to the fact that 9+ Ban< has played a significant role in the development of almost all the sectors of the state 2

economy% So one can say that the mantra of the ban< has been 61or the ,eo, eA by the ,eo, e and of the ,eo, e:% As far as the Fision3 Policy and the developmental role of the ban< is concerned: it can be enumerated as under: The main visionary and developmental role of the ban< has been revolving around the philosophy of 7orporate Social *esponsibility% -n fact 7orporate Social *esponsibility @7S*A of the 95+ Ban< see<s to recogniBe obligations to4ards society and aims to integrate the 7S* ideals into its mission for optimiBing both business and social performance% -t stresses on promoting 4or< life balance3 give attention to social and environmental concerns and hosts of factors that facilitate business pursuits and accomplishment of economic goals% The 7S* is not just recogniBed as promulgating the Ban<Hs o4n values and principles of philanthropy but also the values and principles of all those 4ho have a sta<e in it or are affected by its operations% By supporting social cause aligned to the mission the 7S* strategy differentiates the Ban<Hs brand and enhances its reputation% The ban< manages social issues in the same manner as any other strategic business issues% The Ban< besides playing its role in economic development of the state and country contributes significantly to4ards the social cause% The ban< has established its credentials for the poor and needy by donating generously for various philanthropic activities aimed at ameliorating their sufferings% Be it victims of natural calamity3 li<e fire3 flood and disabled or patients 4ith serious ailment 4ho lac< reliable means of survival3 the ban< has been all through supporting them% The Ban< realiBes its responsibility of saving the lifeLfuture of blooming children3 4ho lost their parents to the one and half decade long turmoil in the state of 95+ and has adopted several of them by providing financial support either through various orphanages 4here they are sheltered or directly to the orphans by bearing their education or other e?penditures% The ban< donates to various ./(s3 societies3 trusts3 institutions involved in socio#economic development of the society% &eritage preservation is an important responsibility of every conscious individual3 institute or agency% The thrust areas to assist in this respect for the ban< 4ill be preservation of historicalL religious monuments3 development of tourist sites3 national properties3 museums3 libraries3 protection of environmentLecology etc and sponsoring seminars and a4areness camps3 art and literary 4or<s3 )rd cultural activities3 social service camps3 college or university students clubs etc% The Ban< has been playing a vital role in the promotion of tourism and it is in this bac<drop that the Ban< has been shouldering the responsibility of registering yatris for the Shree Amarnathji 8atra through its e?tensive net4or< of branches spread across the country% The Ban< puts in place special registration counters at all branches of the Ban< outside the state and some selected branches in 9ammu and +ashmir State% -n addition to this3 accidental insurance cover facility of Bajaj AllianB /eneral -nsurance 7o% Dtd% to the pilgrims at a nominal premium is made available to the yatris% Curing the yatra3 the ban< establishes mobile branches even

)!

at the holy cave% People in general and pilgrims in particular all over the country have appreciated this effort and 4on lot of applause for the Ban<% Apart from above activities the Ban< has been constructingLdeveloping the public utility service li<e public par<s3 bus stands3 drin<ing 4ater posts3 lavatories3 conveniences3 rain shelters% -n addition to this3 the ban< organiBes relief camps3 service camps3 night shelters3 health resorts3 health clinics3 disaster 5 calamity management centers3 rehabilitation centers etc% 0ey "o icy of the ban) 'ith the objective of promoting the philanthropic activities3 other social and environmental issues3 the ban< has a 7S* policy in place embodying the broader principles for providing donations% The donations are made 4ithin the prescribed limit of "O of the published profit for the previous year% -t focuses on economic3 social3 cultural and geographical bac<4ardness of the area% 0ey 1eature$ of the "o icy of the ban) The ban< provides financial assistance for the benefit of &andicapped personsL orphansL poor patients suffering from serious ailments% Provides direct assistance or through Prime MinisterIs *elief Fund or 7hief MinisterIs *elief Fund or any other national level or state level calamity relief fund to needy 4ho have suffered due to natural disaster and calamities% &elps in rehabilitation of handicapped childrenL persons belonging to depressed classes of society% Provides for procurement of devices L apertures for <idney transplantationK cardiac interventionsK cancer patientsK A-CS &-F and other dreaded diseases3 philanthropic support for people belonging to economically deprived sections of the society% Provides financial support to orphanages% Provides scholarships to meritorious students of depressed sections of the society at various levels 4ith focus on the needy% Provides technical and financial support for the &eritage Preservation through sponsorship of a4areness seminars3 organiBing social service camps3 sponsoring Art 5 Diterary 4or<s and preservation and development of important &istorical3 religious3 tourist sites3 museums3 libraries3 archives3 scientific organiBations and .ational properties% Provides financial assistance for protection of ,nvironmentLecology% )"

7onstructs and develops the public utility services li<e bus stands3 development of par<s3 construction of drin<ing 4ater posts3 lavatories3 conveniences etc% The donations are directly made to depressed class of society including physically challenged person or through a .on /overnmental (rganiBation engaged in the ameliorating of the suffering of this class of society% To ensure transparency in selection of deserving beneficiaries follo4ed by disbursement of proceeds to the donees3 the follo4ing precautionary measures are also ensured% The applicant should not be an employee of any -nstitution3 semi# /overnment3 ;uasi# /overnment or /overnment organiBation entitled to Medical Aid benefits% The applicant is not a professional beggar% The applicant is not a dependent family member of Ban<Is o4n staff%

The Ban<Is 7S* is rooted in its 7orporate /overnance philosophy3 4hich in turn is 4oven around Ban<Is commitment to ethical practices in the conduct of its business3 4hile striving in the constant ;uest to gro4 4ith profits and enhance shareholders value and align interests of the shareholders3 sta<eholders and society through adoption of best international practices and standards% Managing 7S* is not vie4ed as an e?tra cost or burden but is vie4ed not only as ma<ing good business sense but also contributing to the long#term prosperity of our Ban< and ultimately its survival% Being a good neighbor and sho4ing that you care on the one hand and being a successful business on the other3 are flip sides of the same coin% The Ban< donated *s% one la<h to Maharaja *anjit Singh Trust3 .e4 Celhi3 for the upliftment of do4ntrodden sections of the society% The Ban< gave donation to the Foundation for inter#community *elations Celhi for upliftment of society% A financial assistance to the tune of *s%"%!! la<h for the 4elfare of /ujjars 4as given to /urjar Cesh 7haritable Trust3 9ammu% The Ban< donated se4ing machines to destitute 4ido4s through Bhartiya Calit Sahitya Academy3 9ammu% Sho4ing its eagerness for the upliftment of 4omen3 the Ban< donated embroidery machines to 'omenIs 'elfare Society3 +achhama3 +up4ara% The Ban< also gave donation to ./( Friends Association for Dadies and (rphans 'elfare @FA('A3 Srinagar%

#oard of Director$:/ &AS,,B A C*ABU @7hairman 5 ,?ecutive (fficerA )

MA8AS&A.+,* F,*MA SUC&A.S&U PA.C,8 AS&(+ +UMA* M,&TA ABCUD MA9-C M-* B% D% C(/*A M% -% S&A&CAC F-+*A.T +UT&-ADA P*(F% .-SA* ADM% MATT( *A+,S& +UMA* /UPTA .-&AD /A*'A*, A*.AB *(8

Management EGecuti-e$ &AS,,B A C*ABU @7hairman 5 7hief ,?ecutiveA A + M,&TA @,?ecutive Cirector 5 7hief (perating (fficerA ABCUD MA9-C M-* @,?ecutive Cirector 5 7hief Financial (fficerA A9-T S-./& @Sr% PresidentA +UDC,,P +UMA* S&A*MA @PresidentA SA&-BSACA /& M(&-#UC#C-. @PresidentA TAFASUD &USSA-. @PresidentA PA*F,S A&M,C @PresidentA / A *,/(( @PresidentA ABCUD *AS&-C @PresidentA

))

7hairmanIs Profile
+a$eeb A! DrabuA 7hairman 5 7hief ,?ecutive of the Ban<3 is a professional economist 4ho has been on the Board of Cirectors of the Ban< since ""th 9uly3 !!)% Possessing a diverse s<ill set and 4ide ranging e?perience3 he started his professional career 4ith the Perspective Planning Civision of the Planning 7ommission% Dater3 he 4as appointed 7onsultant to the ,conomic Advisory 7ouncil of the Prime Minister% &is final stint 4ith policy ma<ing 4as 4ith the Tenth Finance 7ommission% Moving from /overnment to the field of business journalism3 he joined -ndiaHs premier financial daily3 Business Standard3 and rose to become the .ational ,ditor of the paper% ,ven as a regular commentator on economic issues3 he 4as associated 4ith various governmental policy ma<ing bodies% .otably3 in "2203 he 4as appointed member of the &igh Po4ered 7ommittee on ,conomic *eforms for 9ammu and +ashmir% &e 4as ,conomic Advisor to the /overnment of 9ammu 5 +ashmir3 a position he has held since 9anuary !!) till 9anuary !!2% &e is also credited 4ith having conceptualiBed 4ide#ranging economic and fiscal reforms of the State /overnment% &e 4as inducted by the Planning 7ommission to its 'or<ing /roup on *esources for the ,leventh Five#8ear Plan% &e has also 4or<ed as a consultant for the Asian Cevelopment Ban<% &e 4as a member of the Prime MinisterHs tas< force on the long term development of 95+3 chaired by 7% *angarajan3 the former /overnor of *eserve Ban< of -ndia% &e is a member of the 7--Hs ban<ing panel and member of the Advisory 7ommittee of .ational Cisaster Management Authority3 /(-% &e 4as a member of the ,?pert /roup to recommend an appropriate 6Civersity -nde?: for the minorities formed under the aegis of Ministry of Minority Affairs% &e 4as also appointed by the /overnment of 9ammu and +ashmir as the 7hairman of the 7ommittee to revie4 Po4ered Tariff Structure e?tended to the -ndustry%

)$

C+A"TER/>
RESEARC+ MET+ODOLO.I
Ob5ecti-e of the $tudy To study the performance appraisal system in The 9ammu 5 +ashmir Ban<% To asses the degree of a4areness among employers and employees on performance appraisal in The 9ammu 5 +ashmir Ban<% To <no4 the satisfactory level and the comfortable level bet4een the ,mployees and superiors% To asses 4hether the appraisal is done 4ithout any bias the employees% To <no4 and identify merits and demerits of performance appraisal in The 9ammu 5 +ashmir Ban<%

Methodo ogy of the $tudy Methodology is said to be the procedure or 4ay in 4hich the project 4or< has been done% -n the project 4or<3 the methodology adopted is data collection and sample plan% Source of data: The data for the study has been collected from various primary and secondary sources% Primary data: Primary data is collected of facts on the subject of the study by the researcher% -t can be collected through ;uestionnaires and intervie4s% Se*ondar( data refa*e to the use of information alread( *olle*ted and 'u+lished or un'u+lished! The sour*es are +ooks$ ,ournals$ re'orts et* Sam, e De$ign: )1

-o'ulation. The 'o'ulation for the 'resent stud( *onsists of the em'lo(ees of The Jammu & Kashmir Bank workin% at the /or'orate Head0uarters! Sam'le si)e. The si)e of the sam'le for the 'resent stud( is *onfined to 12 em'lo(ees +elon%in% to -ersonnel$ Ad&an*es$ 3eneral$ #ata /entre$ T & IS#$ and IBR! Sam'le Te*hni0ue. The sam'le for the 'resent stud( is sele*ted usin% sim'le random te*hni0ue!

C+A"TER/6
DATA ANALISIS
B'4Iour *or) i$ $ati$fying 9 *orth*hi e and he ,$ contribute to the $ucce$$ of the com,any
satisfying strongly agree agree strongly disagree

Statistics satisfying N Valid Missin

60 4

)=

g satisfying Cumulative Percent 55.0 "#.3 00.0

Valid

strongly agree agree strongly disagree %otal

Frequency 33 !6

Percent 5 .6 40.6 .6

Valid Percent 55.0 43.3 .$ 00.0

60 4 64

"3.# 6.3 00.0

Missing %otal

&ystem

B%4 7ou d you recommend your friend or re ati-e your organiHation a$ a good , ace to *or)
recommend definitely yes yes may 'e definitely no

Statistics recommend N Valid Missin g

60 4

)0

recommend Cumulative Percent 33.3 #3.3 "#.3 00.0

Frequency Valid definitely yes yes may 'e definitely no %otal Missing %otal &ystem 60 4 64 !0 30 "

Percent 3 .3 46." 4. .6 "3.# 6.3 00.0

Valid Percent 33.3 50.0 5.0 .$ 00.0

B(4 Are the goa $ of your com,any c ear y $,ecified=

goals strongly agree agree disagree

Statistics goals N Valid Missin

60 4

)>

g goals Cumulative Percent ! .$ "5.0 00.0

Frequency Valid strongly agree agree disagree %otal Missing %otal &ystem 3 44 3 60 4 64

Percent !0.3 6#.# 4.$ "3.# 6.3 00.0

Valid Percent ! .$ $3.3 5.0 00.0

B<4 Do you ha-e an annua $et of ,erformance $tandard$=

standards strongly agree agree disagree neit(er

Statistics standards N Valid Missin g

5" 5

)2

standards Cumulative Percent ." "6.6 "#.3 00.0

Frequency Valid strongly agree agree disagree neit(er %otal Missing %otal &ystem 5" 5 64 $ 50

Percent 0." $#. .6 .6 "!.! $.# 00.0

Valid Percent ." #4.$ .$ .$ 00.0

B>4 +o* often i$ your ,erformance a,,rai$a done=

a))raisal fortnig(tly annually not fi*ed

Statistics a))raisal

$!

Valid Missin g

5# 6 appraisal Cumulative Percent .$ $$.6 00.0

Frequency Valid fortnig(tly annually not fi*ed %otal Missing %otal &ystem 44 3 5# 6 64

Percent .6 6#.# !0.3 "0.6 ".4 00.0

Valid Percent .$ $5." !!.4 00.0

B64 On *hat ba$i$ i$ ,erformance a,,rai$a done=

'asis merit cum seniority seniority cum merit merit only seniority only ot(er

$"

Statistics 'asis N Valid Missin g

60 4 basis Cumulative Percent ! .$ 60.0 #3.3 " .$ 00.0

Frequency Valid merit cum seniority seniority cum merit merit only seniority only ot(er %otal Missing %otal &ystem 3 !3 4 5 5 60 4 64

Percent !0.3 35." ! ." $.# $.# "3.# 6.3 00.0

Valid Percent ! .$ 3#.3 !3.3 #.3 #.3 00.0

BC4 7hat method$ are being u$ed for "erformance A,,rai$a =

met(od critical incident essay met(od ran+ing met(od ot(er

Statistics met(od N Valid Missin g

5 3

method Cumulative Percent 5." 45. "!.! 00.0

Frequency Valid critical incident essay met(od ran+ing met(od ot(er %otal Missing %otal &ystem 3 !0 !4 4 5 3 64

Percent 4.$ 3 .3 3$.5 6.3 $".$ !0.3 00.0

Valid Percent 5." 3".! 4$. $.# 00.0

$)

BD4 +o* do you rate the o-era a$$e$$ment of "erformance A,,rai$a =

rate outstanding e*cellent very good good

Statistics rate N Valid Missin g

5$ $

rate Cumulative Percent $.0 36.# 5$." 00.0

Frequency Valid outstandin g e*cellent very good good %otal Missing %otal &ystem 4 $ ! !4 5$ $ 64

Percent 6.3 !6.6 #.# 3$.5 #". 0." 00.0

Valid Percent $.0 !".# ! . 4!. 00.0

$$

BF4 I$ com,en$ation in)ed *ith "erformance A,,rai$a =

lin+ed agree disagree strongly disagree neit(er

Statistics lin+ed N Valid Missin g

5! ! linked Cumulative Percent 4!.3 #4.6 "!.3 00.0

Valid

agree disagree strongly disagree neit(er %otal

Frequency !! !! 4 4 5! ! 64

Percent 34.4 34.4 6.3 6.3 # .3 #.# 00.0

Valid Percent 4!.3 4!.3 $.$ $.$ 00.0

Missing %otal

&ystem

$1

B'&4 Do you find "erformance Management Sy$tem tran$,arent and $cientific=

trans)arent strongly agree agree disagree neit(er

Statistics trans)arent N Valid Missin g

5" 5 transparent Cumulative Percent 6.# 6".5 "3.! 00.0

Frequency Valid strongly agree agree disagree neit(er %otal Missing %otal &ystem 4 3$ 4 4 5" 5 64

Percent 6.3 5$.# ! ." 6.3 "!.! $.# 00.0

Valid Percent 6.# 6!.$ !3.$ 6.# 00.0

$=

B''4 7hy do you ha-e ,erformance management $y$tem$ in your OrganiHation=

,(y retention strategy re,ard allocation training develo)ment )romotion. transfer. termination /o' requirements 'arriers to )erformance all of t(e a'ove

Statistics ,(y N Valid Missin g

60 4 why Cumulative Percent 6.$ #.3 !3.3 46.$ 56.$ 65.0

Valid

retention strategy re,ard allocation training develo)ment )romotion. transfer. termination /o' requirements 'arriers to

Frequency 4 " 4 6 5

Percent 6.3 .6 4. ! ." ".4 $.#

Valid Percent 6.$ .$ 5.0 !3.3 0.0 #.3

$0

)erformance all of t(e a'ove %otal Missing %otal &ystem ! 60 4 64 3!.# "3.# 6.3 00.0 35.0 00.0 00.0

B'%4 The ,re$ent "erformance A,,rai$a of your organiHation di$tingui$he$ the ,erformer$ and non ,erformer$=

distinguis(es strongly agree agree disagree strongly disagree neit(er

Statistics distinguis(es N Valid Missin g

5" 5 distinguishes Cumulative Percent 6.# 6$.# "3.! "6.6

Valid

strongly agree agree disagree strongly disagree

Frequency 4 36 5 !

Percent 6.3 56.3 !3.4 3.

Valid Percent 6.# 6 .0 !5.4 3.4

$>

neit(er %otal Missing %otal &ystem

! 5" 5 64

3. "!.! $.# 00.0

3.4 00.0

00.0

B'(4 Doe$ recognition gi-en to high ,erformer he ,$ in moti-ating the em, oyee$=
motivation strongly agree agree disagree neit(er

Statistics motivation N Valid Missin g

5# 6 motivation Cumulative Percent !$.6 #6.!

Frequency Valid strongly agree agree 6 34

Percent !5.0 53.

Valid Percent !$.6 5#.6

$2

disagree neit(er %otal Missing %otal &ystem

4 4 5# 6 64

6.3 6.3 "0.6 ".4 00.0

6." 6." 00.0

"3. 00.0

B'<4 I$ "MS $y$tem of your organiHation -ery u$efu for career , anning=
career strongly agree agree disagree neit(er

Statistics career N

Valid Missin g

5# 6 career Cumulative Percent 3.4

Frequency Valid strongly agree !

Percent 3.

Valid Percent 3.4

1!

agree disagree neit(er %otal Missing %otal &ystem

4" 6 5# 6 64

$6.6 ".4 .6 "0.6 ".4 00.0

#4.5 0.3 .$ 00.0

#$." "#.3 00.0

B'>4 +o* do you *ant your ,erformance to be communicated to you=

communication ,ritten form o)en communication counselling

Statistics communication N Valid Missin g

5" 5 communication Cumulative Percent

Frequency

Percent

Valid Percent

1"

Valid

,ritten form o)en communication counselling %otal &ystem

33 " $ 5" 5 64

5 .6 !".$ 0." "!.! $.# 00.0

55." 3!.! ." 00.0

55." ##. 00.0

Missing %otal

B'64 Shou d -ariab e ,ay be in)ed *ith "MS in order to bring more efficiency in the *or)=
efficiency yes no can0t comment

Statistics efficiency N Valid Missin g

60 4

efficiency Cumulative Percent 66.$ $3.3 00.0

Valid

yes no can0t comment %otal

Frequency 40 4 6 60 4 64

Percent 6!.5 6.3 !5.0 "3.# 6.3 00.0

Valid Percent 66.$ 6.$ !6.$ 00.0

Missing %otal

&ystem

B'C4 Shou d "erformance Management Sy$tem of your organiHation be in)ed *ith re*ardJ incenti-e mode a $o=
s(ould strongly agree agree may 'e no comments

Statistics s(ould N

Valid

5"

1)

Missin g

5 should Cumulative Percent !5.4 ##. "3.! 00.0

Frequency Valid strongly agree agree may 'e no comments %otal Missing %otal &ystem 5 3$ 3 4 5" 5 64

Percent !3.4 5$.# 4.$ 6.3 "!.! $.# 00.0

Valid Percent !5.4 6!.$ 5. 6.# 00.0

B'D4 +o* far are you $en$iti-e and reacti-e to*ard$ "MS $y$tem of your organiHation=
sensitive strongly average no comments

1$

Statistics sensitive N Valid Missin g

5" 5 sensitive Cumulative Percent 33." " .5 00.0

Valid

strongly average no comments %otal

Frequency !0 34 5 5" 5 64

Percent 3 .3 53. $.# "!.! $.# 00.0

Valid Percent 33." 5$.6 #.5 00.0

Missing %otal

&ystem

B'F4 Do you fee your ,er$ona goa $ are fu fi ed through fu fi ment of organiHationa goa $

11

fulfilled strongly agree agree sometimes disagree

Statistics fulfilled N Valid Missin g

5$ $ fulfilled Cumulative Percent 35. $$.! "6.5 00.0

Frequency Valid strongly agree agree sometimes disagree %otal Missing %otal &ystem ! 5$ $ 64 !0 !4

Percent 3 .3 3$.5 $.! 3. #". 0." 00.0

Valid Percent 35. 4!. ".3 3.5 00.0

1=

B%&4Do you fee ,re$ent "MS $y$tem of your organiHation i$ com, ete and $ati$factory in a Re$,ect$
com)lete strongly agree agree disagree no comments

Statistics com)lete N Valid Missin g

5$ $ complete Cumulative Percent 5.3 56. #0.$ 00.0

Frequency Valid strongly agree agree disagree no comments %otal Missing %otal &ystem 3 !" 4

Percent 4.$ 45.3 ! ." $.!

Valid Percent 5.3 50." !4.6 ".3 00.0

5$ $ 64

#". 0." 00.0

10

C+A"TER/C
1INDIN.S
-t has been found that most employees thin< that performance appraisal is important and very useful for their career planning% The appraisal system facilitates gro4th 5 learning of employees and it is used to distinguish performers from non performers% Although most of the employees donHt <no4 on 4hat basis their performance appraisal is done and 4hich method is used to appraise them but most of them rate the overall assessment of performance appraisal as very good% Most of the employees feel that the goals of the organiBation are clearly specified and that the have an annual set of performance standards% -t has been found that most of the employees thin< that the performance appraisals of the organiBation helps to facilitate promotions3 transfers and termination decisions 4here as very fe4 feel that it helps to indicate training and development needs% Most of the employees feel that compensation3 incentives and variable pay should be lin<ed to performance appraisals system as it helps motivate employees through reorganiBation% Some employees did respond positively to4ards the current PMS system of the ban< but most of them preferred not to comment about it% Most of the employees thin< that they are able to fulfill their personal goals through fulfillment of organiBational goals% Most of the employees agree 4ith the fact that the present PMS system of the ban< is scientific and transparent but most of them felt they are not very sensitive or reactive to4ard the PMS system% Most of the employees feel that the present PMS system of the ban< is complete and satisfactory in all respects

1>

C+A"TER/D
SU..ESTIONS
The performance appraisal system should facilitate career gro4th 5 learning of the employees% The short coming of employees should be informed to them after performance appraisal and that too in the 4ritten form as they 4ant% The performance appraisal should not be assessed by biased mind and personal grudge% (n 4hat basis performance is appraised should be informed to the employees and 4hat method is used should also be told to them% 7ompensation and other variable pays should be lin<ed to PMS system%

12

C+A"TER/F
LIMITATIONS
The stud( is limited to /or'orate Head 0uarters of the +ank and does not in*lude other +ran*hes! Stud( is limited to sele*ted %rou' from the main stream of the or%ani)ation Sam'le si)e is limited to 42 res'ondents$ as some of the 0uestionnaires were not returned or were lost +( the em'lo(ees and 'ro+lems with *onfidential information! The res'onses would ha&e also +een affe*ted +( the amount of work and workin% *onditions! Stud( in*ludes +oth *olle*tions of data from 'rimar( as well as se*ondar( sour*es! There is a hi%h *han*e of sam'lin% error!

=!

C+A"TER/'&
CONCLUSION
,ffective performance management relies on systems and people 4or<ing together to ma<e sure the right things happen% The hard systems3 processes and data3 are inseparable from the soft aspects such as culture3 leadership and learningK one does not 4or< 4ithout the other% A system does not stand apart from day#to#day management% ,ffective performance management arrangements can help to integrate planning3 revie43 financial management and improvement systems to enable policy ma<ers and managers to ma<e informed decisions and improve services% Performance appraisal should be a positive e?perience and contribute to the overall 4elfare of the organiBation% -f done properly3 performance appraisal is a very effective tool to improve performance and productivity and for developing employees% -t helps individuals to do better3 raises self#esteem and motivation% Above all it strengthens the managementLsubordinate relationship and fosters commitment% Performance evaluation is not a process to be avoidedK rather it should be implemented in all organiBations and promoted as a <ey management activity% The benefits to be realiBed from a proper evaluation system far out4eigh the time and effort re;uired to develop3 implement and maintain the process. To summariBe3 performance appraisal should be vie4ed as a beneficial process 4ithin the conte?t of an effective system of personnel management% -t should be accepted as a normal management responsibility to revie4 the performance of all employees and for all managers to discuss performance 4ith their subordinates on a regular basis% The <ey elements of an effective performance appraisal system are: "% 7learly defined performance standards% % An effective monitoring system% ="

)% *egular discussions of performance% $% Cevelopment of appropriate action plans as a conse;uence of the appraisal% Those elements 4ill help to ensure that performance appraisals conducted in any organiBation 4ill yield the desired benefits and be more readily accepted by all concerned%

#ib iogra,hy
Author$: ,dson Pinheiro de Dima3 Sergio ,% /ouvea da 7osta3 9annis 9% Angelis3 8ourna : Measuring Business ,?cellence3 "ub i$her: ,merald /roup Publishing Dimited Author$: Steven &% Appelbaum3 Cavid .adeau3 Michael 7yr3 8ourna : -ndustrial and 7ommercial Training3 "ub i$her: ,merald /roup Publishing Dimited% Author$: ,% Soltani3 *%B% van der Meer3 9% /ennard3 8ourna : Management *esearch .e4s3 "ub i$her: M7B UP Dtd Author$: Ceborah F% Boice3 Brian &% +leiner3 8ourna : 'or< Study3 "ub i$her: M7B UP Dtd Author$: Tom 7oens and Mary 9en<ins3 "ub i$her: -nnovative Deader% Author: Clinton O. Longenecker3 "ub i$her: Business Horizons3 Nov-Dec, 1989 Author$: +in Fai ,llic< 'ong3 9essica 8%8% +4ong3 8ourna : 9ournal of Applied Psychology3 !!03 Fol% 2 3 .o% Author$: BalBer3 'illiam +%3 Suls<y3 Dorne M3 8ourna : 9ournal of Applied Psychology3 "ub i$her: American Psychological Association3 -nc% Author: 8ao#Sheng Diao3 8ourna : Personnel *evie43 "ub i$her: ,merald /roup Publishing Dimited%

#oo)$ =

,ssential of &*M and -ndustrial *elations# P% Subba *ao% &*M# 7%B% Mamoria and S%F /an<ar# &imalaya Publishing &ouse% 67&% Paramananda:3 Article on Performance Management% 6AB7 ManagerHs Primer:3 6An ,?ecutive /uide:3 Activity Based 7ost Management:3 by 6/ary 7o<ins:% *obert Bascal 6Performance Management: to help 7ompanies3 -mprove their Performance Management Systems%

7eb$ite$:
444%innovations#report%com 444%entrepreneur%com 444%evancarmichael%com 444%articles%techrepublic%com% 444%performance#appraisal%com 444% 'or<2""%com

=)

ANNEKURE
Bue$tionnaire
C-S7DA-M,*:

the data collected through this ;uestionnaire 4ill be used only for educational purpose M"A .ameEEEEEEE%%EEEEEEEEEEEEEEEEEEEE M A /ender M)A Age 1#)! $=R M$A CesignationEEEEEEEEEEEEEEEEEEEEEEEEE% M1A ,?perience Dess than ) year $#0 years )!#)1 )=#$1 Male Female

=$

>#"" years

More than " years

M=A 8our 4or< is satisfying 5 4orth4hile and helps contribute to the success of the company Strongly Agree Cisagree .either M0A 'ould you recommend your friend or relative your organiBation as a good place to 4or< Cefinitely 8es May Be Cefinitely .o M>A Are the goals of your company clearly specified Strongly Agree Cisagree .either M2A Co you have an annual set of performance standards Strongly Agree Cisagree .either M"!A &o4 often is your performance appraisal done Fortnightly Monthly Agree Strongly Cisagree Agree Strongly Cisagree 8es .o Agree Strongly Cisagree

=1

&alf 8early .ot Fi?ed M""A (n 4hat basis is performance appraisal done Merit cum Seniority Merit (nly

Annually

Seniority cum Merit Seniority (nly

Any other please specifyEEEEEEEEEEEEEEEEEE%% M" A 'hat methods are being used for Performance Appraisal Forced 7hoice Method ,ssay Method 7ritical -ncident Method *an<ing Method

Any other please specifyEEEEEEEEEEEEEEEEEE%% M")A &o4 do you rate the overall assessment of Performance Appraisal (utstanding Fery /ood Poor M"$A -s compensation lin<ed 4ith Performance Appraisal Strongly Agree Cisagree .either M"1A Co you find Performance Management System transparent and scientific Agree Strongly Cisagree ,?cellent /ood

==

Strongly Agree Cisagree .either

Agree Strongly Cisagree

M"=A 'hy do you have performance management systems in your (rganiBationN *etention strategy *e4ard allocation -dentification of training and development needs Facilitates Promotions 5 Transfers 5 Termination decisions To clarify an employeeHs job re;uirements -dentifying barriers to performance All of the above

M"0A The present Performance Appraisal of your organiBation distinguishes the performers and non performers Strongly Agree Cisagree Agree Strongly Cisagree

.either M">A Coes recognition given to high performer helps in motivating the employeesN Strongly Agree Cisagree Agree Strongly Cisagree

=0

.either M"2A -s PMS system of your organiBation very useful for career planningN Strongly Agree Cisagree .either M !A &o4 do you 4ant your performance to be communicated to you 'ritten Form (pen 7ommunication .o .eed M "A Should variable pay be lin<ed 4ith PMS in order to bring more efficiency in the 4or< 8es 7anHt 7omment M A Should Performance Management System of your organiBation be lin<ed 4ith re4ardL incentive mode alsoN Strongly Agree May Be .o 7omments M )A &o4 far are you sensitive and reactive to4ards PMS system of your organiBation Strongly Average => Agree Cisagree .o (ral form 7ounseling Agree Strongly Cisagree

.o 7omments M $A Co you feel your personal goals are fulfilled through fulfillment of organiBational goals Strongly Agree Sometimes .o 7omments M 1A Co you feel present PMS system of your organiBation is complete and satisfactory in all respects Strongly Agree Cisagree .o 7omments Agree Strongly Cisagree Agree Cisagree

=2