Performance Appraisal And Performance Management System Commerce Essay

Published:

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

This is an attempt to present a progressive proposal on the PERFORMANCE MANAGEMENT SYSTEM OF NTPC, PMI. Performance management system is a method through which total evaluation of an employee's performance throughout the year undertaken by his/her superior wherefrom the junior get to know his/her own standing in the organization. This system is a very important aspect, which gives the true picture of the company's driving in a particular year. I am going to try to make a research work on the company's Performance Management System.

India's largest power company, NTPC was set up to accelerate power development in India. NTPC is emerging as a diversified power major with presence in the entire value chain of the power generation business. Apart from power generation, which is the mainstay of the company, NTPC has already ventured into consultancy, power trading, ash utilization and coal mining. NTPC ranked 317th in the '2009, Forbes Global 2000' ranking of the World's biggest companies.

Purpose

As the Performance appraisal is the process of obtaining, analyzing and recording information about the relative worth of an employee. The focus of the performance appraisal is measuring and improving the actual performance of the employee and also the future potential of the employee. Its aim is to measure what an employee does

The  purpose  of  this research will be  to institutionalize the Performance Appraisal and Management System by developing an integrated process of objective setting, assessment and evaluation that will support individual employee, departmental & company's growth and will help create a performance driven culture and to help it to become a 75,000 MW company by 2017 as according to the company's vision.

Objectives

To provide a framework to the company for systematic planning of Performance Objectives at the beginning of the year.

To ensure that individual objectives are aligned to the company goals.

To ensure an objective evaluation of employee performance.

To identify gaps in performance and take necessary actions to ensure the achievement of organizational and individual goals.

To define a proper career planning process to thye employees.

To provide inputs for determining the Compensation, Rewards & Recognition.

To compare the past system for performance appraisal with the new performance management system in order to identify the drawback that are overcome by the new system of performance that is PMS(performance management system)

Research Questions

Research questions of this dissertation are described below and researcher try his best to cover all relative matter regarding dissertation.

How performance channel of NTPC can be improved?

What strategies to be implemented to get optimum result/benefits?

What type of performance managemnet process can help?

Why company not yet have achieved its visioned goal?

Which kind of threats and barriers impeding to achieve company's desired goals?

Are the employees of the satisfied with their career in company?

Data Collection

As the various components of Performance Appraisal and Managment System are

1.   Performance Planning & Objective Setting

Performance Planning is an important part of the Performance Management System as it makes the objectives of business and individual performance clear and simple.

 2.   Performance Assessment

Performance Assessment is done in an objective and scientific manner. THIS ASSESSMENT  IS  DONE   at the end of the financial year.

3.   Career Development

Inputs from the Performance Review exercise can be used for planning the career development of the individual.To ensure the growth of an individual, development strategies like training, coaching, mentoring, job rotation & job enlargement may be deployed.

4.   Rewards

Rewards can be monetary &NON-MONETARY .

During this research work of NTPC we :

Should receive ongoing feedback during the year and a formal annual performance assessment/appraisal.

During the assessment sessions, the researcher should create an open and approachable environment in which a two-way discussion can be made possible with the Employee.

The Employee on his part should be willing to give and receive proper feedback during the assessment session.

Performance assessment discussion should cover how the year that went by  for the Employee, what HE/SHE  has achieved, how was it done and what the way forward is for the Employee.

Research Methodology

After Overall Planning, the survey moved into the field and undertook the fieldwork that is distribution and collection of facts. The total number of questionnaire distributed were 60 out of which only 50 were taken into analysis, few were not considered due to incomplete data entry and few questionnaires were not filled. And this method of data collection is selected as:

SAMPLE SURVEY was preferred as the means of data collection to explore the existence of the perception phenomenon, as a sample survey is extensive in scope. But are having LIMITATION that there are possibilities of the information being biased. Bias can be both deliberate and non-deliberate. Non-deliberate bias crept in the form of approximation when respondent were asked to supply information on some past event which they do not exactly remember. Use of standardized response formats in many questions forced respondents to subscribe to statements to which they do not fully endorse.

PURPOSIVE SAMPLING AS THE SAMPLING METHOD is very simple to draw and involve less fieldwork since those units can be selected which possess the required knowledge on the topic of the investigation.But are having LIMITATION that It is not always reliable. The human mind was difficult in recognizing typical items. This difficulty tends to distort purposive sampling. The Problem was faced as one does not have the considerable knowledge about the population and this problem gets solved with the help of my guide.

REASON FOR SELECTING QUESTIONNAIRE AS THE DATA COLLECTION TECHNIQUE

It is relatively inexpensive mode of data collection.

It covers wider geographical area at a relatively low cost per respondent. It presents a uniform stimulus to all respondent i.e. each respondent receives an identical questionnaire. It enables the respondent to answer question - perhaps those of personal or embarrassing nature - more willingly and accurately. It can be answered at the convenience of the respondent.

Analysis

Researcher must breathe life into the cold data by skillful analysis and hence need to follow three steps - editing, classifying and analyzing the data.

The content of the data obtained in a survey were carefully checked for any possible inconsistencies and incompleteness. Then came the careful analysis - the data are then coded and tabulated according to the rating in the dummy table. And then finally tabulated data is interpreted with the help of spreadsheet in excel to reach a final conclusion.

In this research, for getting significant and useful information from collected data researcher will analyze both data. Quantitative analysis used to interpret those data collected through questionnaire, whereas qualitative analysis used to interpret the data which gathered by one to one interview.

For getting the deep information researcher analyse the data in detail, and for comprehensive results researcher will use M.S-excel (Micro Soft Excel Spread Sheet) where required, because researcher was familiar with it, as worked on it since long. With the aim of explanation of the result in batter way, researcher will use tables, diagrams and graphical presentation, which will help to understand outcome in first view.

Researcher must breathe life into the cold data by skillful analysis and hence need to follow three steps - editing, classifying and analyzing the data.

The content of the data obtained in a survey were carefully checked for any possible inconsistencies and incompleteness. Then came the careful analysis - the data are then coded and tabulated according to the rating in the dummy table. And then finally tabulated data is interpreted with the help of spreadsheet in excel to reach a final conclusion.

Limitations

Questionnaire are going to be used as a measure of data collection for the study. I selected the sample size of 50 employees.

Everybody will not respond to the question properly.

This technique does not provide a check on the honesty and reliability of replies, if the respondent gives wrong replies, the investigator cannot know what the truth is.

Time Scale

Refrences

Dick Grote (1996), The Complete Guide to Performance Appraisal, [online] Available at http://www.amazon.com/Complete-Guide-Performance-Appraisal/dp/0814403131#reader_0814403131 [Accessed 11th January, 2011]

Aubrey C. Daniels (2004), Performance Management: Changing Behavior that Drives Organizational Effectiveness, [online] Available at http://www.amazon.com/Performance-Management-Changing-Organizational-Effectiveness/dp/0937100080/ref=sr_1_4?s=books&ie=UTF8&qid=1298227782&sr=1-4 [Accessed 1 April 2010]

James Rollo, nSight, Inc., and Vikko Rollo (2009), Performance Management: A Pocket Guide for Employee Development , [online] Available at http://www.amazon.com/Performance-Management-Pocket-Employee-Development/dp/1576811158/ref=sr_1_9?s=books&ie=UTF8&qid=1298228054&sr=1-9 [Accessed 11th January, 2011]

Dick Grote (2002), The Performance Appraisal Question and Answer Book: A Survival Guide for Managers, [online] Available at http://www.amazon.com/Performance-Appraisal-Question-Answer-Book/dp/081447151X/ref=sr_1_10?s=books&ie=UTF8&qid=1298227564&sr=1-10 [Accessed 11th January, 2011]

Dick Grote (1996), The Complete Guide to Performance Appraisal, [online] Available at http://www.amazon.com/Complete-Guide-Performance-Appraisal/dp/0814403131#reader_0814403131 [Accessed 11th January, 2011]

Writing Services

Essay Writing
Service

Find out how the very best essay writing service can help you accomplish more and achieve higher marks today.

Assignment Writing Service

From complicated assignments to tricky tasks, our experts can tackle virtually any question thrown at them.

Dissertation Writing Service

A dissertation (also known as a thesis or research project) is probably the most important piece of work for any student! From full dissertations to individual chapters, we’re on hand to support you.

Coursework Writing Service

Our expert qualified writers can help you get your coursework right first time, every time.

Dissertation Proposal Service

The first step to completing a dissertation is to create a proposal that talks about what you wish to do. Our experts can design suitable methodologies - perfect to help you get started with a dissertation.

Report Writing
Service

Reports for any audience. Perfectly structured, professionally written, and tailored to suit your exact requirements.

Essay Skeleton Answer Service

If you’re just looking for some help to get started on an essay, our outline service provides you with a perfect essay plan.

Marking & Proofreading Service

Not sure if your work is hitting the mark? Struggling to get feedback from your lecturer? Our premium marking service was created just for you - get the feedback you deserve now.

Exam Revision
Service

Exams can be one of the most stressful experiences you’ll ever have! Revision is key, and we’re here to help. With custom created revision notes and exam answers, you’ll never feel underprepared again.