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RECENT TRENDS IN PERFORMANCE MANAGEMENT SYSTEM

SUBMITTED BY:TANIA SOLANKI F 62 MBA GENERAL

TRENDS IN PERFORMANCE MANAGEMENT SYSTEM

1) Strategic HR 2) Online Performance Management System 3) 360 Degree Appraisal 4) Team Performance Appraisal 5) Rank and Yank Strategy

Important issues concerning performance appraisal in the present world: Focus of theperformance appraisalsis turning towards career development. Performance measuring, rating and review systems have become more detailed, structured and person specific than before. Performance related pay is being incorporated in the strategies used by the organizations. Trend towards a360-degree feedbacksystem. Problems in the implementation of the performance appraisal processes are being anticipated and efforts are being made to overcome them. In India, the performance appraisal processes are faced with a lot of obstacles.

Parameters to appraise performance in BPO Sector


Speed i.e. process performance Accuracy and Productivity of each process

PERFORMANCE MANAGEMENT SYSTEM IN BHARAT PETROLEUM CORPORATION LTD.


Business driven Link business vision and strategy to individual objectives and measures through the balanced scorecard. Team work Encourage and enhance teamwork through mutual sharing of goals with team accountability. Communication Encourage communication, feedback and discussion at every stage. Development Foster development of staff. Transparency Promote openness and mutuality in planning, reviewing and evaluating performance and behavior. Consistency Ensure consistency in measuring and evaluating performance across the organization.

PERFORMACE MANAGEMENT IN INFOSYS


Infosys has three tracks for performance management: Track 1:- The first track deals with performance reviews based on tasks and feedback on personality / technical competencies. Track 2:- The second track is the senior management appraisal. People in managerial roles undergo this annually. Here, the employee fills up a self appraisal form and carries a forward to a panel discussion. Track 3:- 360 degree appraisal constitutes the third track. This has been happening over the last three years, for all departments and practice units.

These activities will undoubtedly establish a strong performance work ethic in Infosys.

PERFORMANCE MANAGEMENT SYSTEM AT TITAN


Objectives of PMS: To create clarity and clarify performance expectations ad measure at individual, group and organizational levels. To provide job guidance, feedback and counseling to build upon strength and areas of improvement so as to bridge the gap between performance and expectations. To identify the training and development needs of employees. To unleash the creative capabilities of employees. To promote a performance culture as a Titan culture of excellence.

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