insurance project ppt

MANAGEMENT THESIS-1

2007-09

[EFFECTIVENESS OF PERFORMANCE APPRAISAL ON EMPLOYEE PERFORMANCE IN THAPAR WATER BASE LTD., NELLORE.]

ByD.S.CHAKRAVARTHI

Under the esteemed guidance ofMrs.R.Initha RinaFaculty supervisorINC,Nellore

Mrs.S.Jyothirmayi ReddyH.R. FacultyINC,Nellore My sincere thanks to Mr. Sampath Kumar

H.R. Manager Thapar Water Base Ltd.

World fish farming was first practiced as long ago as 2000 B.C., in China. The Bible refers to fish ponds and sluices (Isaiah, Chapter 19, verse 10), and ornamental fish ponds appear in paintings from ancient Egypt.

Water sourcesWater supply is the most important factor in selecting the proper location for an aquaculture facility. Aquatic organisms depend upon water for all their needs. Fish need water in which to breathe, eat, grow, and reproduce. Water quality To a great extent water quality determines the success or failure of a fish farming operation. Physical and chemical characteristics such as suspended solids, temperature, pH, mineral content, and the potential danger of toxic metals. TemperatureAs mentioned, fish are cold-blooded organisms and assume approximately the same temperature as their surroundings

The Water base Limited is the largest integrated aquaculture unit in India located in the heart of shrimp country at Nellore, Andhra Pradesh. The company began its operations in 1993 and has stood committed to following and disseminating the best aquaculture techniquesThe company’s mission is to give customers the best value for money with our quality seed, feed, or processed produce.

In addition, we supply value-added shrimp in different forms to many of customers .

PROMOTERSThe Water base Limited is a part of the 80-year-old, US$ 2 billion Thapar Group, one of India's largest business houses . The Thapar Group has interests in areas such as paper, chemicals, glass, textiles, electronics, light and heavy engineering --- a diverse portfolio that represents a commitment to innovate, challenge, and grow. PEOPLE

A common thread binds the 350 people who form The Water base family: a commitment to quality. The workforce understands international quality standards and adheres to strict guidelines concerning hygienic handling of our produce.

SPECIES THEY GROW Black Tiger (P.Monodon)White (P. Indicus)Scampi (M. Rosenbergii)

CLIENTSUSANeptune Fisheries Inc, VirginiaH & N Fish Company, San FranciscoC

USANeptune Fisheries Inc, VirginiaH & N Fish Company, San FranciscoCentral Seaway Corporation Inc., IllinoisAquastar Inc., Seattle

JAPANHanwa Co., NagoyaHanwa Co. Limited, Tokyo K.I. Shoji Co. Limited, GIFU - CityMitsui & Company Limited, TokyoEiger Co. Limited, Kyoto

Highlights of Waterbase feed

HIGHLIGHTS OF WATERBASE FEED

Specially made for Indian conditions The most preferred Indian shrimp feed Formulated by a team of scientists and shrimp nutritionists Quality raw materials sourced from around the world Manufactured in a hygienic automated plant Ensures excellent feed conversion ratio (FCR)

DEPARTMENTSFeed

Farming

Procurement.

R&D

Hatchery

Engineering

General Management

Internal Audit

Marketing

H.R

WHAT IS PERFORMANCE APPRAISAL?Performance appraisal is a systematic way of evaluating the standard of a worker’s performance.FUNDAMENTALS OF AN APPRAISAL SYSTEMIn order to be effective, an appraisal system needs to be perceived by workers as:

• Relevant and applicable to everyday work• Acceptable and fair• A mutual collaboration between management and workers.A performance appraisal system that meets these criteria is likely to have the greatest impact on workers’ satisfaction with the appraisal process and their motivation to improve performance.

BENEFITS OF PERFORMANCE APPRAISALS

Performance appraisals can be used to:• Make employment decisions such as determining pay and promotions• Identify professional development needs• Identify factors in the work environment that help or hinder performance effectiveness.

STEPS FOR DEVELOPING A SYSTEMATIC PERFORMANCE APPRAISAL

BEST PRACTICE IN PERFORMANCE APPRAISALIn essence, best practice in performance appraisals involves:

Integrating performance appraisal into a formal goal setting system Basing appraisals on accurate and current job descriptions Offering adequate support and assistance to workers to improve their performance(e.g., professional development opportunities) Ensuring that appraisers have adequate knowledge and direct experience of the worker’s performance Conducting appraisals on a regular basis

PRIMARY OBJECTIVETo study the effectiveness of performance appraisal on employee performance in the organization.

SECONDARY OBJECTIVETo know the purpose of conducting performance appraisalTo know the process of conducting performance appraisalTo know the objectives of performance appraisalTo learn the various methods involved in the process of performance appraisal

Sources of data: The data is collected mainly from primary and secondary data.Primary data:•Questionnaire method•Direct interview methodSecondary data:The secondary data is collected through company records , brochures, magazines, journals and others. Sample Size: 20% of the total employees are considered for the research.Type of sampling: Convenience Sampling.Data Interpretation : The data collected is interpreted using a pie chart, bar chart & graphical representation.Data Analysis: Data analysis is done by using percentage analysis.

-This research is limited to only Thapar Water Base Ltd. ,Nellore

-Time is restricted to only 16 weeks.

-The data is restricted to be collected from limited number of employees only.

Contd…

T H E B I G P I C T U R E~ • ~

DATA INTERPRETATIONTable No.1 Table showing the number of employees interested in undergoing performance appraisal.

Particulars PercentageInterested in Perf.Appraisal 35%Not-Interested in Perf.Appraisal

65%

INFERENCE: From the above pie-diagram we can know that the majority of the employees(65%) are not Interested in undergoing the performance appraisal and the remaining (35%)are interested.

Table No.2 Table showing the effect of performance appraisal on employees. (In the context of employees) Particulars PercentageImprovement in Performance

30% Monitoring employee

25%Hike in Salary 35%Others 10%Inference: From the above pie-diagram we can know that hike in salary (35%) is the major effect after undergoing the performance appraisal and others like change in behavior occupies the least place

Table No.3 Table showing the desired outcome of performance appraisal (In the context of organization) Particulars PercentageImprovement in Performance 50% Undergo Training 38%Retrenchment 12%

Inference: From the above graph we can infer that improvement in performance (50%) is the desired Out come and least is the retrenchment (12%) from the management context.

Table No.4 Table showing whether performance appraisal motivates the employees.

Particulars Percentage Yes 60% No 40%

Inference: From the above graph we can infer that most of the employees feels(70%) that performance appraisal motivates the employees and the remaining 30% say that they are not motivated.

Table No.5 Table showing the different factors considered while going for a performance appraisal.

Particulars PercentagePerformance 30% Behavior of the employee 25%Skills Of Employee 30%Others 15%Inference: From the above graph we can infer that skills of the employee (30%)and performance(30%) go hand in hand and other aspects like perception, attitude(15%) occupy the last place in the preference level of the organization.

Table No.6 Performance appraisal reviewing periods.

Particulars

Periodic classifications

Half Yearly

2 times

Yearly 1 time

Inference: From the above graph we can infer that performance appraisal is made 3 times totally in a year i.e., Yearly 1 time and half yearly 2 times.

Yearly 2 times for technical departments and yearly once for the administration departments

Table No.7 Performance appraisal reviewing methodsParticulars Excellent Good Fair Bad Very bad360 Appraisal 40% 30% 20% 10% 0%M.B.O 30% 35% 20% 15% 0%Graphic Rating 25% 40% 15% 20% 0% Method Inference From the above graph we Can know the ratings given byEmployees for the appraisal methods They are undergoing.

FINDINGSFrom the analysis it is found that 35% of the employees are not interested in undergoing performance appraisal.From the analysis it is found that the performance appraisal is done as an important part of Hike in salary35%and improvement in performance(30%)From the analysis it is found that desired outcome of performance appraisal (In the context of organization) is more in improvement performance(50% )From the analysis it is found that most of the employees feels(70%) that performance appraisal motivates the employees and the remaining 30% say that they are not motivated.From the analysis it is found that skills of the employee (30%)and performance(30%) go hand in hand and other aspects like perception, attitude(15%) occupy the last place in the preference level of the organization.

From the analysis we can find that performance appraisal is carried out2 times in a year for technical department employees and yearly once for theAdministration departments.

From the analysis we can see the ratings given by employees to differentPerformance appraisal methods.

UNDER THE MICROSCOPETeam members should be encouraged to participate in the appraisal process.Management should clearly convey the importance of performance appraisal to the employees in order to make them active participants in performance appraisal.Assessing individuals’ contribution to team effectivenessIt should Identify and manage issues likely to impact on retentionEnsure that appraisers have adequate knowledge and direct experience of the worker’s performance

Recognise, reward and support effective performancePerformance appraisal are reviewed mostly 3 times a yearPerformance, Behavior with employees, Skills Of Employee

are considered while appraising an employee Identify and manage issues likely to impact on retention Monitor and support workers’ wellbeing

Offering adequate support and assistance to workers such as professional development opportunities in order to improve their performance

A performance appraisal should include assessment of fourgeneral competencies1. Self-management (e.g., goal setting, defining roles)2. Communication (e.g., offering and accepting feedback, expressing ideas clearly, resolving conflict)3. Decision-making (e.g., facilitating systematic decision-making, encouraging team involvement indecision-making)4. Collaboration (e.g., problem-solving with group members’ input).

QUESTIONNAIRE1.What are the methods do you follow for performance appraisal?2.What is the duration of performance appraisal?3.What are the key factors do you consider during performance appraisal process?Performance B)Behavior C)Skills Of Employee D)Others4.Do the employees are willing to undergo performance appraisal?Yes B)No5.What are the effects of performance appraisal? A) Improvement in Performance B) Undergo Training C) Hike in Salary D) Others6.What is the perception of employees with reference to performance appraisal? A) Interested B) Not Interested C) Waste of Time

7.What is the desired outcome of performance appraisal?A) Improvement in Performance B) Undergo Training C) Retrenchment 8.Do you think that performance appraisal motivates the employees? A) Yes B) No9.Is there any improvement in your performance after performance appraisal? A) Yes B) No10.How often should the performance appraisal reviewed? A) Half Yearly B)Yearly

The necessary data is taken from ICFAI O. B.(Sem-1) Text book Human Resources management (a managerial tool for Competitive Human Resources management (a managerial tool for Competitive advantages, Lawrence S.Kleimanadvantages, Lawrence S.Kleiman From the extract of Australia’s National research centre for human resources . And other websites like www.citehr.com www.google.com www.wikipedia.com

CONCLUSIONThe appraisal process is a mutual activity of problem-solving.It’s not about blaming. It’s about looking forward not backward.If workers and appraisers do not accept the appraisal system, it willbe ineffective regardless of its degree of technical soundness.

In order to gain the most benefit from performance appraisals it is recommended that a system is developed in consultation with workers and managers, and clear links are established between appraisals and valued rewards and outcomes. If resources permit, information on work performance should be obtained from multiple sources. Performance appraisals can be a powerful tool for increasing motivation and improving work practice if conducted in a constructive, open and supportive manner.

-D.S.CHAKRAVARTHI

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