Professional Documents
Culture Documents
FLOW OF PRESENTATION
Introduction to Banking Sector Performance Appraisal of RBI Performance Appraisal of HSBC Performance Appraisal of ICICI Performance Appraisal of HDFC Comparative Analysis Conclusion Teams Views
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To recognise the human potential People remain the strongest and most competitive assets of a business To secure talent from the same pool Continuous improvement Find, train and retain talent To help face cut throat competition.
Continuous improvement
COMPANY PROFILE
Nations Central Bank Was established on April 1, 1935 The Governor is the Reserve Bank's Chief Executive RBI is made up of 26 departments RBI has 26 regional offices and branches and in addition to this it also has training centers across the country
OBJECTIVE
To study and analyze the present Performance Appraisal System of different Officer Grades and report findings, suggestions and recommendations to improve employee satisfaction with the overall process. This includes recommendations for changes in the current PAR system and the promotion policy of RBI.
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PROJECT BACKGROUND
Promotion of an employee is based on the combined score of PARS averaged for 3 best scores from the previous 5 years and the interview score. Both the scores carry equal weightage in the final score calculation. The study of the PARS Policy carried out for the following grades:
Officer Grade A Officer Grade B Officer Grade C
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Features of the PAR system at RBI The PAR system provides for three different reporting formats for the following categories of officers: a) Officers in Grades A, B & C; (Area of focus for this project) b) Officers in Grades D & E and c) Officers in Grade F
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The system also provides a set of competencies against which the performance of officers is to be appraised. The officers from Grades A to E are to be appraised on ten competencies, while officers in Grade F are to be appraised on six competencies. Appraisal is to be done on a five point rating scale There is also a provision for feed-back and counseling in the system
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The design and contents of the reporting formats for officers in Grade A to Grade E are similar except for the competencies identified for assessing the appraisee officer. The formats are divided into five sections: SECTION I It consists of two parts. The first part requires the concerned department / office to furnish the appraisee officer's bio-data. In the second part, the appraisee officer is required to list out a record of his/her postings and experience during preceding three years, including the reporting year. This part does not require any authentication by the concerned department/office.
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SECTION- II This section serves the purpose of self appraisal. SECTION III This section is for evaluation of the performance of the appraisee officer and is required to be completed by the reporting and reviewing officers. There are ten competencies with five boxes against each.
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SECTION IV This section deals with the assessment of the review committee which will be final. SECTION V This section contains instructions for reporting/reviewing officers and review committee.
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RATING SCALE
Highest rating - Far Above Requirement (FAR) Lowest rating - Below Requirement (BLR). Between FAR & BLR - Above Requirement (ABR), Meets Requirement (MTR) and Capable of Meeting Requirement (CMR)
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REPORTING PERIOD
The following reporting periods may be adhered to for recording performance appraisal:Category of officers Reporting Period Grade A - 1 October - 30 September of the following year Grade B - 1 April - 31 March of the following year Grade C to Grade F - 1 July - 30 June of the following year
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RECOMMENDATIONS
The analysis of the PAR and Promotion interview marks revealed some pain points and loose ends in the PAR and Promotion system. I make the following recommendations: Performance Appraisal System at other nations Central Banks Bank of England - 360 feedback Reserve Bank of Australia - MBO and BARS Central Bank of New Zealand - defines goals for and objectives for each of the departments. The performance of these departments is monitored against these planned objectives. Each departments plans and performance are scrutinized by the Banks Governors and by the Board of Directors.
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Employees should rate themselves. Training for managers (supervisors) to comprehend anchors and marking system and be at same platform. Quarterly review & Cumulative Grading
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PERFORMANCE APPRAISAL OF
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COMPANY PROFILE
HSBC's origins in India date back to 1853, when the Mercantile Bank of India was established in Mumbai. The Bank has since, steadily grown in reach and service offerings, keeping pace with the evolving banking and financial needs of its customers. HSBC in India is proud to have retained the Group's pioneering streak by being an active partner in the development of the Indian banking industry - even giving India its first ATM way back in 1987. HSBC is a universal bank and is organised within four business groups: Commercial Banking; Global Banking and Markets (investment banking); Personal Financial Services (retail banking); and Private Banking.
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REWARDS OR TRAINING
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Each of these parameters is given a 100% weightage. If the employee has performed well, he is liable for a reward in the form of an increment. However, if he has performed poorly, he will be sent for training.
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If there is a skill deficiency, appropriate training is given. Otherwise, the goals are made more realistic.
Motivation is provided on 3 fronts: Salary Incentives Recognition 28
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Self appraisal can be conducted wherein employees will get the chance to rate themselves.
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Improve institutional/department al manpower planning, test validation, and development of training programs
PMS
Clarify organizational goals so they can be more readily accepted Gain new insight into staff and supervisors
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Eligibility
All Staff Members who have joined on or before Sep 30th would be part of Appraisal Cycle The Performance Management System covers all Managers, Operations Executives and Executives in other Functions In case a manager has been transferred to a new role, he has to spend at least 6 months to appraise the Staff Member. In any case the appraising manager is expected to take feedback from the previous manager before appraising the staff member
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This helps the staff member give a realistic & correct view of his performance to his manager
The manager through this process gets a clear understanding of the Staff Member's Performance, the level of complexity involved and how the achievements have happened. It helps manager give an accurate rating based on Performance .
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The Manager is not expected to give his views or feedback during the PFPD He can neither rate the appraisee before or during the PFPD
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RATIFICATION
Authorization & Consent Ratification of rating helps in creating a fair and uniform rating system thereby remove biases from the rating Ratification process with the ZM/ RM/ Regional Head & HR The ratification team can ask for clarifications/ inputs from individual appraisers at any stage of the ratification process.
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KPI Setting
Managers then conduct the PRD with the Individual Staff members
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60%
40%
60%
20%
0% 1
5%
15%
15%
5%
5
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ELIGIBILITY
All Staff Members who have got confirmed before October are eligible for the appraisal process in April
The Performance Management System covers all Managers and Executives who are confirmed .
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Discrep ancy
GRADE Rating
T1 T2
T3
T4 KP
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GRADE RATING
T1 T2 T3 Bonus + Increment Bonus + Increment No Bonus only Increment
T4