Performance Appraisal System at

By: Mahvish Khan 11 MBA 28

Vision:

The most successful and admired life insurance company which mean that we are the trusted company, the easiest to deal with, offer the best value for money, and set the standard in the industry. In short, The most obvious choice for all
Mission: Focus on high earnings growth with low volatility. Maintain our current standards for asset quality through disciplined credit risk management. Develop innovative product and services that attract our targeted customers and address inefficiencies in the Indian financial sector.

Performance Appraisal
Performance Appraisal is the process of evaluating the performance & qualification of the employees in terms of the requirements of the job for which he is employed, for the purpose of administration including placement, selections for promotions, providing financial rewards & other action which required differential treatment among the group as distinguished from actions affecting all member equally.

PROCESS OF PERFORMANCE APPRAISAL

Objective of the study

1. To study the performance appraisal system in HDFC Standard Life insurance Co Ltd. 2. To access the degree of awareness among employers and employees on performance appraisal in HDFC Standard Life Insurance Co Ltd. 3. To know the satisfactory level and the comfort level between the Employees and superiors. 4. To access whether the appraisal is done without any bias the employees. 5. To know and identify merits and demerits of performance appraisal in HDFC Standard Life Insurance Co Ltd.

SAMPLE DESIGN: 1. Population: The population for the present study consists of all the employees of HDFC Standard Life Co Ltd. 2. Sample size: The size of the sample for the present study is confined to 50 employees belonging to personnel. Administration, marketing department of HDFC Standard Life Insurance Co Ltd. The size is confined due to time and availability.

3. Sample Technique: The sample for the present study is selected using simple random technique.

Analysis and Interpretation

1.Are you aware about the organization performance appraisal system? a) YES b) NO

YES NO

2.Do you think that performance appraisal is essential? a) YES b) NO

YES
NO

3. Does appraisal system of your organization facilities career growth & learning? a) YES b) NO

YES NO

4. Performance appraisal system really assesses the quality of an employee. Do you agree? a) YES b) NO

YES NO

5.Periodicity of performance appraisal should be on a) Quarterly basis b) Half-yearly basis c) Annual basis

A B C

6.The present performance appraisal of your organization distinguishes the performers & non performers? a) Strongly agree b) Agree c) Disagree d) Strongly disagree

A B C D

7.The periodical performance appraisal of employee is required for maintaining efficiency of individual 7 organization? a) YES b) NO

YES

NO

8. Are you aware of the basis or attributes on which your performance is appraised? a) YES b) NO

YES NO

9. Performance appraisal is based upon a) Seniority b) Performance c) Union influence d) Both a & b

Recommendations & Trade

A
B C D

10. Performance appraisal is useful to the contributor to encourage people to perform better on their jobs? a) YES b) NO

YES NO

11. The appraisal system is helping each employee to discover his/her potential & make their short comings? a) Agree b) Disagree c) Strongly Agree c) Strongly Disagree

A B C D

12. The present performance appraisal of your organization assesses individual behavior, discipline, integration, communication skill, leadership qualities & growth? a) Agree b) Disagree c) Strongly Agree d) Strongly Disagree

A B C D

13. How do you want tour performance to be communicated to you? a) Written Form b) Oral Form c) Open Communication d) No Need

A B C D

14. What kind of counseling should occur in an organization? a) Formal b) Informal

YES

NO

15. According to you, Counseling is a a) Formality b) Identifies Strength & Weakness of the employee c) To know the areas of need for development

A B C

16. How often did you speak, or discuss about your performance with your superiors? a) Frequently b) Sometimes c) Rarely d) Never

a b c d

17. Training & development programs improve the quality of the employees? a) Agree b) Disagree c) Strongly agree d) Strongly disagree

Agree Disagree Strongly Agree Strongly Disagree

18. Has your performance increased as a result of performance appraisal system.? a) To a large extent b) Moderate extent c) Less extent d) Not at all

Large extent Moderate extent Less extent Not at all

Findings: It has been found that most of the employees think that the performance appraisal is essential and they think it is used as a tool to improve performance, to determine organization needs, and to basis for pay increase, promotions, and transfer. The appraisal system facilitates growth & learning of employees and it is used to distinguish performers. Suggestion: The performance appraisal system should facilitate career growth & learning of employees. The short coming of employees should be informed to them after performance appraisal. Promotion should be based on performance rather than seniority or any other factors.

THANK YOU