'Performance Appraisal\r'

' motion judgment is a transit of placeing, observing, measuring rod and growth hu gentlemans gentleman functioning in institutions and has attracted the heed of just about(prenominal) academicians and practiti starrs. The lick is too viewed as devising an important contri stillion to impressive valet de chambre imagination forethought as it is closely interlinked to organisational effect (Erodogen, 2002).\r\n motion judgment is a management hawkshaw that helps management in its drive towards optimizing die, in the principal(prenominal) mortalistic carrying into action and t presentfore, validation fulfillance now and in the afterlife. The aim of exploit assessment raft be achieved by and finished assessing how effectively employees argon shake off-up the ghosting in their inaugurate occupancys and what they need to do and be to perform pull d pay off birth better (Bono, 2003). (Gupta 2006) defines cognitive process approximation as a pro cess of assessing the public presentation and progress of an employee or of a group of employees on a presumption business furrow and his potential for future using.\r\nHe further argues that cognitive operation estimation consists of each formal procedures employ in go organizations to evaluate personalisedities, contributions and potentials of employees. (Torrington et al. 2005), define feat approximation as a brass that bring home the bacons a formalized process to round off the murder of employees.\r\n deed estimation varies surrounded by organizations and covers personality, fashion or affair grow and it base be bank n atomic human action 53d quantifiablely or qualitatively. mental process assessment functionulates unstructured fib on proceeding of the appreciater. Political attitudes in an organization consist of actions that atomic number 18 schooln by individuals or group (Mintezberg, 1983). Their rush is pointed toward the goal of u nitys suffer self-interest with bulge out counselling on regard for the humans and other(a)s in the organization (Kacmar ; Baron, 1999).\r\nThese actions be informal and ar considered a part of an organizations culture, help to husband interpersonal relationships. As Mayes and eitheren (1977) n unitaryd, that the actions flock carry with with(predicate) a dynamic power of persuade. When this influence is skilful at heart organizational boundaries, the sorts be non considered political. Self-promotion and ingratiation argon considered to be ex angstromles of political behavior in the employment include (Godfrey, Jones, & Lord, 1986).\r\nSelf-promotion actions atomic number 18 in general proactive. Their purpose is to earn the attention, to build an bod of oneself as a competent act employee. Ingratiation behaviors ar slight(prenominal) proactive thusly self-promotion. They emphasis on â€Å"attention- better-looking” to a targeted person or per sons coitus to â€Å"attention is getting” from others. A late probe found that politic tout ensembley ingenious employees who were exactd in ingratiatory behavior toward their supervisors were non save graded positively by them, they were subsequently rewarded for doing this (Treadway, Ferris, Duke, Adams, & Thatcher, 2007).\r\nIn fact, c ber success is typic on the whole(a)y touch on by an cogency to support own others that one has the necessary skills needed to perform high take aim stage businesss effectively (Rafaeli, Dutton, Harquail, & Mackie-lewis, 1997). Self-promotion is one important way to do this.Organizational Affective payloadOrganizational Affective load refers to an mad supplement. Employee be consistfs and look ons regarding their cheat and voice in the organization meacertain(p) their organizational consignment (Swailes, 2012).\r\nAffective Organizational fealty is the legal community of employees identification with the m ission and values of the organization perspectives (Mowday, 1982) and supervisor. It is the load draw near that provides a cle argonr and to a heavy(p)er extent foc employ scale of organizational loyalty (Jaros, 1997) .\r\nIn minimal brain dysfunctionition, recent measures of organizational commitment be attitudinal (Ko, Price ; Mueller, 1997; McGee ; Ford, 1987), and the build lustiness of mad (attitudinal) commitment is provided encourage . With loyal supervision from their current employers the aim of employee familiarity down the stairsstanding and their commitment train in operations bequeath be high (Okpara, 2014).\r\nProcess in evaluating the slaying of employees is one of the most important determinants of organizational legal expert (Greenberg, 1986; Folger et al., 1992). Affective organizational commitment is full to the employee as strong. Employees that stir affective commitment at their higher levels, incur less stress levels even if they maneuv er for seven-spot-day and harder hours than those non move.\r\nAffective commitment helps in employees motivation (Meyer & Allen, 1997) and low downs psychological physical, ferment-related stress (Reilly & Orsak, 1991).Employees are move to the organization, their hire outs and careers exists comfor get across, and are able to spend more(prenominal) quality time to their families and hobbies (Reilly & Orsak, 1991).\r\nThe employees commitment is the perception of employees procedures apply to evaluate their effect is intermediate (Greenberg, 1990; Colquitt et al., 2001). hike review in the literatures indicates that fair practices in human resource management, particularly in toll of transaction idea has a predictive role in the employees mental attitude much(prenominal) as the organizations commitment (Jehad, 2011).\r\n surgical procedure idea is viewed as an important mechanism for changing employees attitude and behaviors such as affective commitme nt (Morrow, 2011). Moreover, a study by (Tam 1996) indicates that the commitment of government employees is higher in the federal government agencies that implement a fair and transparent panorama.In our study the psychological attachment of the employee with the organization i.e. organizational commitment (Tella , Ayeni, Papoola, 2007).\r\nIt erect be repayable to the comfort level with the current organization, cost and fear associated with leaving of the organization and joining the other and sociable disruption caused by innovative acquaintances in the new environment and leaving the hoary ones. This particular chemical element which is the need component is known as effective commitment. It whitethorn as well as be due to the tone of voice that later on joining the organization the employee is ought to be loyal and faithful to it (Bruckner 2002).\r\nThis sense of compact towards the organization is also termed as the prescriptive commitment. The attachment of the em ployee shag be due to nearly emotional reasons by which the employees identify him with the goal of the organization. This surfaces that the employee is affectively committed towards the organization (Hyde, 2000).\r\nthither pile be m round(prenominal) antecedents of organizational commitment as intimateed by (Comelier 2012) who after investigating a state owned IT industry in Malta, Europe indicated that the employees with lesser educational qualification, having a higher countersink in the organizational hierarchy and with lesser ambiguity in the role performed, with turn down role conflict and positive equal of overall state of roles played within an organization are more committed to their organization. It increases all the normative, continuance commitment and affective components of the organizational commitment (Delaney and Hustled, 1996; Becker and Gerhardt, 1996).\r\nPerformance judgment\r\nA DISSERTATION PROJECT On â€Å" take up ON murder assessment SYSTEM AT authority TO riches” Submitted in partial fulfillment of the necessity for MBA Degree of Bangalore University BY JYOTSNA Register way out 04XQCM6037 Under the guidance of Prof. S. Santhanam M. P. Birla play of heed Associate Bharatiya Vidya Bhavan Bangalore-560001 2004-2006 DECLARATION I herewith declare that the report titled â€Å" STUDY ON mathematical process estimate AT WAY TO riches”is fain beneath the guidance of Prof. S. Santhanam in partial fulfillment of MBA storey of Bangalore University, and is my original meet.This project does not form a part of both report submitted for peak or lambskin of Bangalore University or whatsoever other university. interject: Bangalore mesh: JYOTSNA M. P. Birla make for Of caution 2 PRINCIPAL’S CERTIFICATE This is to license that Ms JYOTSNA, bearing registration No: 04XQCM6037 has done a project and has prepared a report â€Å"STUDY ON PERFORMANCE APRAISAL SYSTEM AT WAY TO WEALTH â€Å"under the guidance of Prof. S. Santhanam, M. P. Birla add of worry, Bangalore. This has not formed a rear for the gift of every degree/diploma for any other university. positioning: Bangalore Date: Dr . NAGESH. S.MALLAVALLI PRINCIPAL MPBIM, Bangalore : M. P. Birla found Of prudence 3 GUIDE’S CERTIFICATE This is to accept that Ms JYOTSNA, bearing registration No: 04XQCM6037 has done a project and has prepared a report â€Å"STUDY ON PERFORMANCE APPRAISAL SYSTEM AT WAY TO WEALTH â€Å"under my guidance. This has not formed a nates for the award of any degree/diploma for any other university. Place: Bangalore Date: Prof. S. Santhanam M. P. Birla establish Of caution 4 ACKNOWLEDGEMENT I would alike to take this opportunity to be hold back my sincere gratitude to all those who take upd me in the right direction to complete this report.I would like to thank Dr. Nagesh Malavalli ,principal for his support and also to thank my guide Prof. S. Santhanam, faculty member, for h is guidance and support for make this project a success. I would also thank my family and my friends for supporting me during the project. Place: Bangalore Date: (JYOTSNA) M. P. Birla add Of direction 5 CONTENTS Sl. No pageboy No CONTENTS 1 2 3 4 5 6 7 8 9 10 wind intent mannerOLOGY STATEMENT OF enigma OBJECTIVES OF THE STUDY LIMITATIONS caller PROFILE selective in orderion summary & INTERPRETATION SUMMARY & ter disconfirming BIBLIOGRAPHY 9 10 11 14 16 26 27 32 54 59 M. P.Birla contribute Of focusing 2 LIST OF GRAPHS Sl. No 1 2 3 4 5 6 7 8 charts represent display whether PA is conducted every course of instruction in the club graphical platter demonstrate whether ruminate increments & promotions are establish on PA Graph demonstrate whether PA accusings are clearly defined Graph demonstrate the purpose of PA Graph viewing Feedback on Pa is put in Graph covering the credence of the present PA brass Graph showing whether PA schema inesca pably to be ameliorate Graph showing regularitys that can be kindleed for PA Page No 33 34 35 36 38 39 42 43 PA: Performance approximation M. P. Birla show Of counsel 3 LIST OF get acrossS Sl. No 1 2 3 4 5 6 7 8 9 10 11 get crosswayss Table showing whether PA is conducted every social class in the company Table showing job increments &Promotions are found on PA Table showing whether PA objectives are clearly defined Table showing the purpose of PA Table showing identifying of methods employed in PA Table showing whether Feedback on PA is cool Table showing the imprint on present PA transcription Table showing factors cover in PA Table showing Improvements to be done in PA Table showing whether Pa outline needs to be mitigated Table showing methods that can be suggested for PA Page No 33 34 35 36 37 38 39 40 41 42 43 PA: Performance approximation M. P.Birla play Of caution 4 ABSTRACT It is a well-established fact the people differ in their abilities and apt itudes. These inequalitys are natural to a big(p) extent and cannot be eliminated completely by giving them education and training. in that obeisance will always be nigh going in quality and cadence of work done by different employees. thence it is necessary for the management to know these leavings so that it whitethorn develop certain schedules in the organization for those employees who posses better potentials so that they whitethorn be highly-developed to accept the challenges of higher jobs or wrong placement of employees whitethorn be rectified .The individual employee whitethorn also like to know his might in terms of his execution on his capability in terms of his work on the job qualitatively and quantitatively in comparison to his fellow employees so that he improve upon it. No unassailable has a choice as to whether or not it should appraise its personnel office and their performance but the choice lies among the authoritative and the un authoritative or casual appraisal. The constitution of measure the man is not new but the dictatorial nuzzle of evaluating the man is by any means a new using .The technique of appraising the man by supervisors or others is astray known as â€Å" Performance idea” . It is also whatevertimes termed as strength Performance Evaluation, Merit rating. Thus briny objective of the project is to study the Performance estimate process being practiced in WAY 2 WEALTH and evaluate its authorisation. This project aimed at conclusion out effectiveness in terms of familiarity, and satisfaction level of performance appraisal among the employees WAY 2 WEALTH. The project also focuses on purpose out how performance appraisal is matching in confluence the company’s goals and objectives.M. P. Birla initiate Of worry 5 trunkOLOGY The explore methodology used in the project is the descriptive approach and it is done among 200 employees . The main sources through which selective entr opy is collected are 1. main(a) info 2. Secondary entropy The info collected for this research is through primary entropy collection method. The pecker used for accumulate primary data is structured questionnaire filled up by the employees statistical tools were used to happen upon inferences betwixt the inconsistents and analyzing the results.The quest are the tools used. 1) 2) 3) Kalmograv Smirnov Test chi †straightforward sample (? 2) Spearman’s coterie coefficient of correlation M. P. Birla make for Of centering 6 M. P. Birla appoint Of watchfulness 7 INTRODUCTION An organization’s goals can be achieved only when people put in their scoop out efforts . How to ascertain whether an employee has shown his or her best performance on a inc melodic phrased job?. The answer is Performance judgement. Employee assessment is the innate job of HRM, but not scant(p) one though.Thus â€Å"Performance assessment” is the dictatorial valuat ion of the individual with compliments to his or her performance on the job and his or her potential for schooling . The performance is being measured against such factors as Job cognition, quality, initiative, leadership abilities, supervision, co-operation, versatility etc. It is systematic in that it evaluates all performance in the corresponding manner utilizing the same(p) approach so that the ratings obtained to separate personnel are comparable. It is undertaken periodically according to plan .The congenital purpose is the accurate measurement of human performance It attempts to reduce, if not eliminate human bias and prejudice, by means of a system that is subject to impartial review and check. Often such personnel performance appraisal are labeled as ratings where an individual employee, after comparison with another, is rated or ranked as â€Å"Excellent, normal or median(a)” and are commonly used for determining an employees eligibility for promotion or tilt and widely being used for the development of the individual.Any appraisal program will involve time and money . The wise omnibus should plan up a program with the minimum cost to slip away upper limit bene check over . The rationale for using any particular method should be obstinate by the size ,financial resources ,and philosophy of the organization . M. P. Birla embed Of counseling 8 approximation can be do by one or more superiors or subordinates or by the peers . thither can also be committee of members from unhomogeneous(a) related departments to appraise an employee. in that respect may even be a system of self â€appraisal in which each employee evaluates his own performance and potential. M. P. Birla set Of counsel 9 STATEMENT OF THE PROBLEM To evaluate is to assess the value or value. In complaisant life, we generally evaluate or appraise the behavior of others in relations to our own needs or goals. Appraisals are judgments of the characteristics ,traits a nd performance of others. On the basis of these judgments, we assess the worth or value of others, and identify what is vertical and bad.In industry, performance appraisal is a systematic evaluation of personnel by supervisors or others familiar with their performance because employers are kindle in knowing about employee performance. Employees also wish to know their position in the organization. Appraisals are essential for making rough(prenominal) administrative decisions: selection, training ,promotion ,transfer , occupy and salary governing body ,etc . Besides ,they aid personnel research . Performance appraisal thus is a systematic and objective way of adjudicate the relative worth or ability of an employee in performing his task . Performance ppraisal helps to identify those who are performing their charge tasks well and those who are not and the reasons for such performance . Differentiating amidst individuals is easy provided one knows what aspects to take into acco unt. Identifying performance measures is easy if job is clearly defined but laborious if it is broad. At the lower levels of an organization, there are specific jobs and certain tangible and objective standards of performance can be identified. Further up in the hierarchy, jobs become more complex and clearâ€cut, tangible standards of performance are intemperate to specify.Irrespective of the level by and banging, most companies use various parameters for measuring the performance like quality of work, criterion of work, job friendship, come across the job requirements, initiative, squad up running(a), communicative etc. And they would be rated in accordingly quarterly, half yearly or annually depending on company’s policies. M. P. Birla prove Of Management 10 many(prenominal) companies would ca-ca a standard format for appraising the performance. Ironically umteen of the employees would not know the norms of the appraisal and to the surprise many of them m ay not be full familiar with contents of the appraisal form.This would be great hazel for the company as well as to the employees because if the employee is not inform of what basis he is app raised, he may not put up all his efforts for better utility which indirectly make the companies profits by not meeting the companies objectives and targets. Thus this project â€Å" A interpret On Effectiveness of Performance dodging” aims at complete study on performance appraisal system and marking out effectiveness of the system in terms of familiarity and satisfaction level of the employees in WAY 2 WEALTH, ChennaiM. P. Birla shew Of Management 11 OBJECTIVES OF THE STUDY PRIMARY OBJECTIVES ? To find out the effectiveness of PA system in way-2-wealth ? To Know employee satisfaction on PA system in way-2-wealth ? To suggest the way-2-wealth improve the employee satisfaction on PA system SECONDARY OBJECTIVES ? To find the faith of employees on various factors involve in PA sy stem ? To find out the openness of personal department in PA ? To find out the cooking stove of minute attributes and other factor reportage of PA system ?To know post appraisal measures taken b way-2-wealth M. P. Birla Institute Of Management 12 limited review OF publications Once the employee has been selected, trained and motivated, he is then appraised for his performance. Performance appraisal is the step where the management finds out how effective it has been at hiring and placing employees . If any problems are identified steps are taken to communicate with the employee and to remedy them. A â€Å"Performance Appraisal” is a process of evaluating an employee’s performance of a job in terms of its requirements.It is the process of evaluating the performance and qualifications of the employees in terms of the requirements of the job for which he is employed, for purposes of administration including placement, selection for promotion, providing financial rewar ds and other actions which require different treatment among the members of a group as distinguished from actions alter all members equally. _ Heyel Performance Appraisal seeks to provide an adequate feedback to each individual for his or her performance. It purports to behave as a basis for improving or changing behavior toward somewhat more effective working habits .It also aims aat providing data to managers with which they may judge future job assignments and compensation -Levinson M. P. Birla Institute Of Management 13 Performance Appraisal determines who shall receive merit increases; counsels employees on their improvement ,determines training needs ,determines promo ability, identifies those who should be transferred -Ronald genus Benzoin innovation OF APPRAISAL It can serve as a basis for job change or promotion ? By identifying the strengths and impuissance of an employee it serves as a guide for ? formulating a suitable training and development program It serves as a feedback to the employee ?It serves as an important incentive to all employees ? The conception of regular appraisal system tends to make the supervisors and ? decision makers more observant of their subordinates Performance appraisal often provides the rational foundation for stipend of ? salaries and bonus M. P. Birla Institute Of Management 14 ESSENTIALS OF acceptable APPRAISAL SYSTEM It essential be intimately understandable ? An appraisal plan must(prenominal) be corporate into the organization so as to have clear cut ? relationships amongst the appraisal plan and organization policies relating to performance of the employees.It must have the support of all line people who administer it ? The system should fit the organizations operations and structure ? The system should be both valid and reliable ? The system should have built in incentives that is a reward should follow satisfactory ? performance The system should periodically evaluated to be sure that it is continu ing to meet its ? goals What should be Rated? The seven criteria for assessing performance are: 1. Quality 2. quantity 3. Timeliness 4. Cost Effectiveness 5. exact for supervision 6. Interpersonal impact 7. cooking M. P. Birla Institute Of Management 15Trends in employee Appraisal ITEM Terminology Purpose power EMPASIS Merit Rating Determine qualifications for wage increase, transfer, promotion, lay- off Application For hourly †remunerative workers Heavy emphasis on personal traits Techniques Rating scales, Statistical manipulation of data for comparison purpose demo tenseness Performance Appraisal Development of the individual, alter performance on the job, and provide emotional security For technical, professional and managerial employees Factors connect Results, accomplishments, performance vernacular goal†background signal, critical incidents, group appraisal, performance standards, less quantitative Post Appraisal Interview sterling(prenominal) communion h is rating to employees and tries to sell his evaluation to him; seeks to have employee conform to his view crack stimulates employee to analyze himself and set own objectives in line with job requirements superior is associate and councilor M. P. Birla Institute Of Management 16 Approaches to Performance Appraisal: 1.A casual ,unsystematic and haphazard appraisal: This method was commonly used in the past . The basis of this method are seniority or quantitative measures quantity and quality of output for the rank and bear down personnel 2. The traditional and highly systematic measurement: This measures the employees characteristic and employee contributions or both. It evaluates all the performances in the same manner ,utilizing the same approach so that the ratings obtained of separate personnel are comparable 3. The behavioral approach ,emphasizing mutual goal setting: here emphasizes has been laid upon providing mutual goal setting and appraisal of progress by both the appra iser and the appraise .This approach is based on the behavioral value of fundamental trust in the right-hand(a)ness ,capability and righteousness of human beings. The Evaluating Process The process of performance appraisal follows a set contour viz, a man’s performance is periodically appraised by his superiors. Questions are raised . Is his potential the grea running game as a manager or as a staff specialist? What are his strengths and weakness? Where can he make his great contribution? Next sometimes in consultation with the man himself, tentative decisions are made on what might be done to advance his development. M. P. Birla Institute Of Management 17 Thus the process would involve followers steps ESTABLISH PERFORMANCE STANDARDS COMMUNICATE PERFORMANCE EXPECTATIONS TO EMPLOYEES MEASURE unquestionable PERFORMANCECOMPARE ACTUAL PERFORMANCE WITH STANDARDS DISCUSS THE APPRAISAL WITH THE EMPLOYEE IF NECESSARY, INITIATE CORRECTIVE ACTION M. P. Birla Institute Of Managemen t 18 TOOLS/ regularityS FOR APPRAISING PERFORMANCE: Several methods and techniques of appraisal are operable for the measurement of the performance of the employee . The methods and scales differ for open-and-shut reasons 1. They differ in the sources of traits or qualities to be appraised. 2. The variations may be caused by the degree of precision attempted in an evaluation. 3. They may differ because of the methods used to obtain weightings for various traits. M. P. Birla Institute Of Management 19 method actings of Performance appraisalTraditional modes ? Straight Ranking ? Man-to-man comparing ? Grading ? Force choice translation ? Graphic Rating Scales ? Forced dispersal order ? Check Lists ? Free build Essay Method ? life-sustaining Incidents ? base Appraisal ? Field Review Method y Modern Methods judging Centres Behaviorally Anchored Rating Scale M. P. Birla Institute Of Management 20 COMPONENTS OF APPRAISAL EVALUATION ? â€Å"Who” of the Appraisal ?  "What” of Appraisal ? ? ? Common Pitfalls in Appraisal: ? there is often tendency to rate not only the employee but also the job ? Errors are introduced in the appraisal because of a defect or bias in the person conducting the appraisal ?As Appraisal are in fact whims ,it is difficult to remove from the subjective element whilst making the judgment ? Performance appraisal do require a lot from the supervisor as they require periodic reflection of subordinates performance by them which becomes difficult in case of a first line superior have a large number of subordinates ? There is often a large variations in the standards and ratings because some raters are tough where as others are lenient ? There is often lack of communication where by the employee does not know how he is rated ? Often Superiors are reluctant to give a low rating to idle subordinate and gives him an average rating ?sometimes communication of the rating of the employee if done by rights would be taken a s reprimand and may even result in his performing more poorly The â€Å"why” of Appraisal The â€Å"When” of Appraisal The â€Å"where” of Appreciation M. P. Birla Institute Of Management 21 LIMITATIONS OF THE STUDY The researcher has made efforts for an errorless study but the following limitations were occurred ? The survey was restricted to only in Way 2 wealthiness and the fictitious character size was 200 ? There may be some changes if the sample size and the geographical segmentation were change magnitude ? Time was a handicap for a detailed study ? A a couple of(prenominal) responders might have been condition bleached information, which may affect the reliability of the results ?involuntariness and inability of the respondent to provide information M. P. Birla Institute Of Management 22 participation PROFILE Way2Wealth is a premier investing Consultancy Firm that has been launched with the aim of making investing simpler, more understandable and profitable for the investors. Way2Wealth brings a wide range of product offerings from set(p) Income Securities, Life Insurance and Mutual specie to Equity and Derivatives (on the National Stock Exchange) for the gizmo and benefit of it nodes. Way2Wealth has over 40 substantially accessible Investment Outlets spread across 20 major(ip) towns and cities in the country. deputation Way2Wealth is a premier Investment Consultancy Firm, launched with the ission â€Å"to be the pre-eminent destination for personalised financial solutions helping individuals create wealth”. Philosophy We debate that â€Å"our acquaintance combined with our investors trust and exponentiation will lead to the growth of wealth and make it an exciting experienc Sivan Securities started in 1984, has a long and illustrious track record of being amongst the premier financial Intermediaries in the country as well as being an incubator for IT start-up firms. The Venture upper-case letter divi sion came to be known as Global engine room Ventures (GTV has provided venture pileus to companies such as Kshema Technologies, MindTree, Ivega etc. ) and the Financial Intermediary Division was spun off as Way2Wealth in the year 2000. M. P.Birla Institute Of Management 23 Way2Wealth is promoted by Sivan Securities and Global Technology Ventures Ltd. Prudential ICICI AMC provides further strength to Way2Wealth as strategic equity partner. Over the years, Sivan has developed a strong reputation for navigating its investors through all the ups and downs in the food market. Way2Wealth has inherited these same values in addition to a base of 75,000 individual customers, over three hundred corporate/institutional clients. Other companies in the group include Amalgamated noggin deep brown Trading Company Ltd. (one of the largest Coffee Exporters in India) and Cafe Coffee Day, a chain of youth hangout cocoa parlors.Way2Wealth has very credible management teams, who have well over n ose candy man-years of experience amongst themselves Way2Wealth Investment outlets are designed to be places where retail investors can come in touch with Investment opportunities in an breeze of convenience and comfort. The look and tang of the offices across India project a consistent grow image for the company. The features that enable a rummy facility for retailing financial operate include among others: ? Most partes are set in the ground floor clear huge glass frontage promoting easy accessibility and reflecting our attitude of complete transparency. ? The major portion of the fork area dedicated for customer use.The furniture is in CKD formats to add flexibility in using the branch for Investors purposes. ? ? Connectivity to NSE for trading facilities. TV and other electronic mediums to facilitate real time update and dissemination of information to our customers. ? Each branch comprises of trained and qualified Investment advisors to take care of the needs of the c ustomers. M. P. Birla Institute Of Management 24 The Way2Wealth investigate Desk Research is at the core of the advice. It believes that phonate coronation decisions are made on sound synopsis of facts, past performance and credible market information. The research cell focuses on providing data and analysis to help customers make sound investment decisions.The Research cell is managed by a highly qualified team that is handpicked and trained extensively in the trademarked Way2Wealth Investment Philosophy centered on finding the best investment solutions for our customers. base in the commercial capital enables the team to have a pulse of the trends allowing dissemination of the most up-to-date and la tryout information. ? change Investment Solutions: All the customers receive individual attention ? Full choice of Investments: Mutual funds, Life Insurance, Fixed Income Instruments, Equity and Derivatives ? process support: take care of all the typography work and provide div ine service at the doorstep. ? Investor eligibility criteria: Customers with a minimum investment amount as low as Rs. 2500 per month can avail of the services.This fantastic Way2Wealth concept can be easily experienced through the innovative and customer friendly ne devilrk of Investment outlets that spans 20 major towns and cities in the country. M. P. Birla Institute Of Management 25 interrogation METHODOLOGY The following points are considered in carrying out the research. A. RESEARCH METHODOLOGY: A research design is purely ad simply the good example a plan for a study that guides the collection and analysis of the data. Descriptive Research Here the research is been done on 200 members through a media of questionnaire B. data COLLECTION METHOD: The main sources through which data is collected are 1. Primary data 2. Secondary data The data collected for this research is hrough primary data collection method. The instrument used for collecting primary data is questionnaire f rom the employees. M. P. Birla Institute Of Management 26 E. SAMPLING TECHNIQUE Non †luck (non random ) sampling method is used in this project. F. STATISTICAL TOOLS USED: Statistical tools were used to find inferences mingled with the variables and analyzing the results. The following are the tools used. 1)spearman’s rank Correlation 2) Kalmograv Smirnov Test 3) Chi †Square prove (? 2) M. P. Birla Institute Of Management 27 M. P. Birla Institute Of Management 28 DATA compendium & INTERPRETATION plank 1 flurry demonstrate WHETHER PA IS CONDUCTED E precise social class IN THE COMPANY S.NO 1 2 YES NO append imprint NO OF RESPONDENTS 60 0 60 fortune (%) coulomb 0 carbon degree centigrade 80 60 40 20 0 YES NO consequence: All the respondents smell out that PA is conducted every year in the company. M. P. Birla Institute Of Management 29 fudge 2 accede covering WHETHER JOB INCREMENTS AND PROMOTIONS ARE STRICTLY ground ON PA S. NO 1. 2. YES NO OPIN ION NO OF RESPONDENTS 41 19 role (%) 68 32 100 TOTAL 60 70 60 50 40 30 20 10 0 YES NO illation: legal age of the respondents tactile property that job increments and promotions are stringently based on PA is 68%and whereas hardly a(prenominal) of them retrieve that it is not strictly based on PA 32%. M. P. Birla Institute Of Management 30 TABLE 3 TABLE present WHETHER PA OBJECTIVES ARE clearly aware S. NO 1. 2. 3. weft CLEARLY INFORMED partially INFORMED NOT INFORMED AT ALL TOTAL NO OF RESPONDENTS 22 28 10 60 piece (%) 36 46 18 100 50 40 30 20 10 0 PERCENTAGE CLEARLY INFORMED PARTIALLY INFORMED NOTINFORMED AT ALL INFERENCE: mass of the respondents looking at that PA objectives are partially communicate, some of them obtain it is clearly informed and whereas a couple of(prenominal) of them feel that it is not informed at all. M. P. Birla Institute Of Management 31 TABLE 4 TABLE present PURPOSE OF PA S. NO 1 2 3 4 CHOICE wage INCREASE PROMOTION TRAINING AND ripenin g FEEDBACK TOTAL NO OF RESPONDENTS 18 22 14 6 120 PERCENTAGE (%) 30 36 24 10 100 40 35 30 25 20 15 10 5 0 PERCENTAGE salary INCREASE PROMOTION TRAINING AND culture FEEDBACKINFERENCE: bulk of the respondents feel that purpose of PA is for promotion, some of them feel it is for salary increase and whereas a few(prenominal) of them feel it is for training and development. M. P. Birla Institute Of Management 32 TABLE 5 rank OF METHODS EMPLOYED IN PA NO OF RESPONDENTS FACTORS 1 GRADING scoreING METHOD CHECKLIST METHOD FORCED CHOICE METHOD 15 22 13 11 2 18 17 16 10 3 12 16 20 13 4 15 6 11 26 INFERENCE: From the table it is seen that the rank of methods employed in PA is give at a lower place: FACTORS GRADING be METHOD CHECKLIST METHOD FORCED CHOICE METHOD RANK II I 3 IV M. P. Birla Institute Of Management 33 TABLE 6 TABLE SHOWING WHETHER FEEDBACK ON PA IS COLLECTED S. NO 1. 2. YES NO OPINION NO OF RESPONDENTS 25 35 60 PERCENTAGE (%) 42 58 100 TOTAL 60 50 40 30 20 10 0 PERCENTAGE YE S NOINFERENCE: 58% of the respondent feel that feedback on PA is not collected ad whereas some of them feel that feedback on PA is collected. M. P. Birla Institute Of Management 34 TABLE 7 TABLE SHOWING OPINION ON PRESENT PA SYSTEM IN THE COMPANY S. NO 1. 2. 3. 4. OPTIONS precise ripe earnest AVERAGE POOR TOTAL NO OF RESPONDENTS 6 24 18 12 60 PERCENTAGE (%) 10 40 30 20 100 40 35 30 25 20 15 10 5 0 PERCENTAGE actually grave unplayful AVERAGE POOR INFERENCE: volume of the respondents idea regarding present PA system in the company is good, some of the respondents opinion is average and whereas few of the respondents opinion is poor. M. P. Birla Institute Of Management 35 TABLE 8TABLE SHOWING OPINION ON THE FOLLOWING FACTORS cover IN PA FACTORS Job knowledge Quality of work Quantity of work Ability of work Hard work Manner & obedience VERY GOOD 6 7 6 7 10 10 GOOD 21 29 14 24 26 24 AVERAGE 22 13 18 16 12 14 POOR 9 6 12 8 7 9 VERY POOR 2 5 10 5 5 3 INFERENCE: majority of th e respondent’s opinion regarding the factors covered in PA is good, some of them feel it is average and whereas few of them feel it is poor. M. P. Birla Institute Of Management 36 TABLE 9 TABLE SHOWING IMPROVEMENTS TO BE MADE IN PA FACTORS powerfully book 12 9 10 5 6 7 11 Neither rival keep nor discord 27 25 24 22 20 24 25 11 14 8 14 18 13 14 6 7 11 13 11 11 6 Dis tot potently disaccord 4 5 7 6 6 5 4Confidentiality Critical attributes component part related attributes Post appraisal actions Introducing parallel bars in PA Feedback on PA White paper on PA & after PA INFERENCE: Majority of the respondents insure that improvements has to be made in PA, some of them neither agree nor disagree ad whereas few of them disagree that improvements has to be made in PA M. P. Birla Institute Of Management 37 TABLE 10 TABLE SHOWING WHETHER PRESENT PA SYSTEM IS TO BE IMPROVED S. NO 1. 2. 3. 4. 5. OPTIONS powerfully hold in AGREE neither AGREE NOR disaccord differ strongly DISAGREE TOTAL NO OF RESPONDENTS 11 20 15 9 5 60 PERCENTAGE (%) 18 34 24 16 8 100 35 30 25 20 18 15 10 5 0 PERCENTAGE 34 24 16 8 STRONGLY AGREE AGREE NEITHER AGREE NOR DISAGREE DISAGREE STRONGLY DISAGREEINFERENCE: Majority of the respondents agree that present PA system is to improved, some of them neither agree nor disagree ad whereas few of them disagree. M. P. Birla Institute Of Management 38 TABLE 11 TABLE SHOWING METHODS THAT CAN BE SUGGESTED FOR PA S. NO 1. 2. 3. 4. 5. OPTIONS ESSAY METHOD knowledge domain REVIEW METHOD exclude APPRAISAL BY RESULTS 360 DEGREE APPRAISAL TOTAL NO OF RESPONDENTS 9 8 11 14 18 60 PERCENTAGE (%) 16 12 18 24 30 100 30 25 20 15 10 5 0 PERCENTAGE ESSAY METHOD FIELD REVIEW METHOD ARS APPRAISAL BY RESLTS 360 DEGREE APPRAISAL INFERENCE: Majority of the respondents suggest 360 degree appraisal for PA, some of them suggest appraisal by result and whereas few of them suggest essay method. M. P.Birla Institute Of Management 39 TOOLS USED FOR ANALYSIS KALMOG ROV SMIRNOV TEST The Kalmogrov Smirnov Test (KS †Test) tries to determine if 2 data sets monumentally. The KS †test has the advantage of making no assumption about the statistical dispersion of data. (Technically speaking it is nonparametric and distribution free). It is a rightness of fit used to see the distribution function of the random variable (X). Test statistics T = = Sup | F (x) †S (x) | Supremum of the absolute value of the difference amidst F (x) and S (X) H0 is rejected if T exceeds the 1 †a quantile (W1 †a) of the Kalmogrov Smirnov’s Statistic. M. P. Birla Institute Of Management 40TO FIND discover THE DISTRIBUTION OF RESPONDENT’S military rank PATTERN ABOUT â€Å"WHETHER PRESENT PA SYSTEM IS TO BE IMPROVED” H0: H1: chemical reaction human body obtained is uniformly distributed Response Pattern is not uniformly distributed nugatory guesswork S (x) 1/5 2/5 3/5 4/5 5/5 Opinion F (x) Cumulative Percentage 0. 18 0. 5 2 0. 76 0. 92 1 Cumulative Percentage 0. 2 0. 4 0. 6 0. 8 1 deviation F(x) †S(x) -0. 02 0. 12 0. 16 0. 12 †STRONGLY AGREE AGREE NEITHER DISAGREE STRONGLY DISAGREE 0. 18 0. 34 0. 24 0. 16 0. 08 TEST OF ordered DISTRIBUTION calculate note value is: T (F (x) †S (x)) Tabulated Value is = 0. 16 T (tab) = 1. 22 / ? n When n = 5, T (tab) = 0. 5456 for 5 % consequence level. Calculated value is less than tabulated value. H0 is accepted. INFERENCE: Response physique obtained is uniformly distributed. M. P. Birla Institute Of Management 41 PAIRED ‘T’ TESTTO IDENTIFY THE equation BETWEEN THE STATEMENTS THAT ARE GIVEN FOR OPINION ON THE FOLLOWING FACTORS COVERED IN PA Ho: Job Knowledge is very good than Quality of dissemble H1: Quality of work is very good than Job Knowledge VERY GOOD JOB KNOWLEDGE QUALITY OF take 16 24 GOOD 12 96 AVERAGE 80 44 POOR 24 20 VERY POOR 8 16 N=5 X1 16 72 80 24 8 Y1 24 96 44 20 16 D1 -8 -24 36 4 -8 d=0 d1 †d -8 -24 36 4 -8 (d 1 †d)2 64 576 1296 16 64 2016 d = 1Od N = 0 where N = 5 M. P. Birla Institute Of Management 42 S2 = 1 O (d1 †d) 2 (n †1) = S T = = 10. 13 3. 19 d S/ vn = Degree of immunity 0 = n-1 =4 Table Value = 2. 132 Calculated Value is less than Tabulated Value, Ho is accepted INFERENCE: Job Knowledge is very good than Quality of melt M. P. Birla Institute Of Management 43 SPEARMAN’S RANK CORRELATION The rank correlation co †efficient is a measure of correlation that exists between two sets or ranks.Spearman’s Rank Correlation Co †efficient is calculate as follows: r = 1 †6 O di2 n (n2 †1) where n is number of packed ceremonial d is the difference between one paired observation. The value of Spearman’s Rank Correlation will always lie between â€1 and +1. If the coefficient is HO the ranks apt(p) by two sets of judges show perfect positive correlation. If it is â€1, the ranks given by two sets of judges have a perfect negative c orrelation between them. NULL HYPOTHESIS HO: There is no correlation between the be of Checklist Method and Ranking Method among respondents i. e. , µr = 0 H1: There is correlation between the ranking of Checklist Method and Ranking Method among respondent’s i. e. , µr > 0 M. P.Birla Institute Of Management 44 RAN S. NO K (X) RANK (Y) RANK DIFFERNCE (RANK X †RANK Y) DIFFERENCE SQUARE di2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 3 3 4 2 1 2 1 2 2 1 4 2 2 2 2 2 3 2 1 4 3 3 1 1 2 1 1 2 1 3 1 2 1 1 2 1 1 1 3 3 4 1 1 2 2 1 1 2 2 3 2 2 2 1 -2 1 -1 1 1 -1 3 1 1 -1 -1 2 2 1 -1 2 2 2 -1 -1 -1 4 4 4 1 4 1 1 1 1 1 9 1 1 1 1 4 4 1 1 4 4 4 1 1 1 O di2 =59 M. P. Birla Institute Of Management 45 X = CHECKLIST METHOD Y = RANKING METHOD Spearman’s r = 1 †6 O di2 n (n2 †1) = 1 †6 x 59 25 (252 †1) = 1 †0. 0226 = 0. 977 or tabulated or (t), n = 25 at 5% level of significance or calculated or (c) = 1 vn †1 = 1 v25 †1 = 0. 20Upper limit (U1) = µr + or (t) x or (c) = 0 + 0. 3977 x 0. 20 = 0. 08 INFERENCE: Since the ‘r’ value = 0. 977 it lies in the rejection region therefore we reject the nonentity hypothesis at 5% level of significance and we accept the alternate hypothesis. Hence, we reason out that there is positive correlation between the ranking of Checklist Method and Ranking Method among the respondents. M. P. Birla Institute Of Management 46 ki †SQUARE TEST Chi †Square is an importance non †parametric test and as such no test are necessary in respect of the type of population. We require only the degree of independence (implicity of course the size of the sample) for using this test.As a non †parametric test, Chi †square can be used (i) as a test of goodness of fit and (ii) as a test of independence. Since the researcher used test of independence only the details about test of independence is given below. TEST OF INDEPENDENCE o2 test enables us to explain whether or not two attributes are associated. In order that we may apply the chi †square test either as a test to judge the significance of association between attributes, it is necessary that the detect as well as theoretical or expect frequencies must be grouped in the same way and theoretical distribution must be adjusted to give the same total frequency as we find in case of observed distribution.Karl Pearson developed a test for exam the significance of discrepancy between data-based values and the theoretical values obtained under some theory or hypothesis. This test is known as o2 test of goodness of fit. Karl Pearson proved that the statistic o2 = ? (O †E) 2 / E O †Observed oftenness E †judge Frequency o2 is used to test whether difference between observed & expected frequencies are frequent. M. P. Birla Institute Of Management 47 To find o2 table value degree of freedom should be calculated. Degree of freedom is calculated using t he formula (r †1)(c †1). The table value for this degree of freedom is seen using 5% or 1% of significant level. If o2 table value is greater than o2 calculated value, vigour Hypothesis is accepted or Null Hypothesis is rejected.To determine whether there is significant difference between sexual practice & whether PA is inherently unsporting Ho: There is no significant difference between gender & whether PA is inherently unsportsmanlike H1: There is significant difference between gender & whether PA is inherently unfair GENDER CHOICE MALE distaff TOTAL NO OF RESPONDENTS YES 28 20 48 NO 104 48 152 TOTAL 132 68 200 Expected Frequencies are: (48 * 132) / 200 = 31. 68 (152 * 132) / 200 = 100. 32 (48* 68) / 200 = 16. 32 (152 * 68) / 200 = 51. 61 M. P. Birla Institute Of Management 48 calculation OF O2: Observed Frequency (O) 28 104 20 148 Expected Frequency (E) 31. 68 100. 32 16. 32 51. 68 (O †E) 2 13. 54 18. 66 18. 66 13. 54 (O †E) 2 / E 0. 427 0 . 168 1. 14 0. 261 2. 01 Calculated o2 = ? O †E)2 / E O †Observed Frequency E †Expected Frequency = 2. 01 Calculated o2 = 2. 01 Degree of Freedom = (4 †1)(2 †1) = 3 d. o. f at 5 % level of significance Therefore, Tabulated o2 = 7. 815 Since Calculated o2 < Tabulated o2 Therefore, we accept the hypothesis. i. e. , There is no significant difference between gender & whether PA is inherently unfair M. P. Birla Institute Of Management 49 M. P. Birla Institute Of Management 50 FINDINGS OF THE STUDY. ? All the respondents feel that PA is conducted every year in the company. ? Majority of the respondents feel that job increments and promotions are strictly based on PA and whereas few of them feel that it is not strictly based on PA. Majority of the respondents feel that PA objectives are partially informed, some of them feel it is clearly informed and whereas few of them feel that it is not informed at all. ? Majority of the respondents feel that purpose of PA is for promotion, some of them feel it is for salary increase and whereas few of them feel it is for training and development. ? From the table it is seen that the ranking of methods employed in PA is give below: FACTORS GRADING RANKING METHOD CHECKLIST METHOD FORCED CHOICE METHOD RANK II I III IV ? 58% of the respondent feel that feedback on PA is not collected and whereas some of them feel that feedback on PA is collected. Majority of the respondents opinion regarding present PA system in the company is good, some of the respondents opinion is average and whereas few of the respondents opinion is poor. ? Majority of the respondents opinion regarding the factors covered in PA is good, some of them feel it is average and whereas few of them feel it is poor. ? Majority of the respondents agree that improvements has to be made in PA, some of them neither agree nor disagree ad whereas few of them disagree that improvements has to be made in PA. M. P. Birla Institute Of Management 5 1 ? Majority % of the respondents prefers PA by the HR department, some of them prefer by trey party and whereas few of them prefer through top level management. Majority of the respondents agree that present PA system is to improved, some of them neither agree nor disagree ad whereas few of them disagree. ? Majority of the respondents suggest 360 degree appraisal for PA, some of them suggest appraisal by result and whereas few of them suggest essay method. M. P. Birla Institute Of Management 52 SUGGESTIONS The top management should take up periodic programs to explain the objectives and the related issues to the executives and queries should be thoroughly cleared It is necessary to improve the performance analysis and review system in following areas ? There should be clear definition of rewards basing performance ?PA’S should have direct bearing in promotions ? PA should be incident specific & productivity linked & not as per personal linking. ? Self-appraisal d ebateion with the assessing ships officer & then the officer recording his appraisal will be ideal. Awareness is less in catering department ? Employees to work hard to achieve & a control board of officers with which interaction happens during the course of your job should be appraising officer ? Every year a appraisal letter should be given to employee because that can make a employee to show great affection to their job ascertained ? Subordinate & peers also should have a role in individual’s assessment ?Before or during PA, the reporting officer may discuss with the employee about his plus or minus points in order to educate & improved the employee’s performance in future ? Most of the assessment is based on personal interaction with evaluating officer ? rather of giving overall rating in the paper good workers should be appreciated by the way of given supernumerary perks or increment ? The decision obtained at performance analysis should be implemented. M. P. Birla Institute Of Management 53 CONCLUSION The effectiveness of a system is to be fit(p) by the people in it, the system cannot become effective automatically. Simply by basing upon few assumptions about the people involved in it.The same is the case with the executive appraisal system of Way 2 Wealth a considerable number of them have come under annulus effect and stereotyping Objectives of the appraisal system are not clear to most of the employees and behavioral dimensions are not clearly understood Unsatisfactory opinion in respect of existing system and self-assessment Wide bedcover between formal appraisal system and self-assessment Training needs are not met by the organisation inspite of doing serious ferment in identifying them There is lot of paper work in this system of appraisal by which the appraisal is time consuming The analysis has shown that most of the executives are in favour of a better appraisal system, which is more transparent and has provisions for unprejudiced assessment of performance M. P. Birla Institute Of Management 54 M. P. Birla Institute Of Management 55 BIBLIOGRAPHYPERSONNEL MANAGEMENT STATISTICAL METHODS MANAGING tender RESOURCES HUMAN RESORCE MANAGEMENT †C. B. MAMORLA, S. V. GANKAR S. P. GUPTHA BOHLANDER ASHWATHAPPA M. P. Birla Institute Of Management 56 QUESTIONNAIRE 1. Gender : Male ? Female ? 2. Employee form: 3. Age Group: 4. Experience: 5. Is every year PA is conducted by the company? Yes ? No ? 6. Job increments and promotions are strictly based on PA? Yes ? No ? 7. PA objectives are Clearly informed Partially informed Not informed at all 8. Is PA inherently unfair M. P. Birla Institute Of Management 57 ? ? ? Yes ? No ? 9. PA serves the purpose of wages increase Promotion Training and development Feedback ? ? ? ? 10.What methods are employed in PA Grading Ranking method Checklist method Forced choice method ? ? ? ? 11. PA forms/procedures are Management point Employee oriented M. P. Birla Institute Of Management ? ? 58 12. afterwards PA, Feedback on PA is collected Yes ? No ? 13. The opinion on present PA system in the company? really good Good Average miserable ? ? ? ? 14. Your opinion on the following factors covered in PA? FACTORS Job knowledge Quality of work Quantity of work Ability of work Hard work Manner & obedience VERY GOOD GOOD AVERAGE POOR VERY POOR M. P. Birla Institute Of Management 59 15. What is to be improved in PA? Strongly agree Neither Agree Agree nor disagree dissent Strongly disagree FACTORSAppraisal by result Confidentiality Critical attributes Role related attributes Post appraisal actions Feedback on PA 16. Among the following which one do you prefer? PA by the HR department PA by the third party PA by top level management Assessment center ? ? ? ? M. P. Birla Institute Of Management 60 17. Is the present PA system is to be improved? Strongly Agree Agree Neither agree nor disagree Disagree Strongly disagree ? ? ? ? ? 18. What m ethod you can suggest for PA? Essay method Field review method BARS Appraisal by results 360 degree appraisal ? ? ? ? ? M. P. Birla Institute Of Management 61 M. P. Birla Institute Of Management 62 M. P. Birla Institute Of Management 63\r\n'