Pcm Project

8/13/2019 Pcm Project

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FINAL PROJECT

PERFORMANCE &COMPENSATION MANAGEMENT


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Presented By

ABDUL NASIR ENAM


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OUR MISSION

To positively enhance the

quality of life of the people ofPakistan by all that we dothrough our people, our

brands and products and ourCore Shared Values activities.


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CORE VALUES

Transparency and honesty

in dealing with people are a sine qua non for efficientcommunication. This is complemented by open dialogue withthe purpose of sharing competencies and boosting creativity.

Communication

To communicate is not only to inform; it is also to listen and

to engage in dialogue.Flexible

The willingness to cooperate, to help others and to learn is a required basis for advancement and promotion within ourcompany.


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PERFORMANCE MANAGEMENT

SYSTEMDefinition:

Performance Management is a comprehensiveprocess

Good performance Management is based on

continuous, honest and constructive dialogue

between supervisors and employees

Goals and objectives should be SMART.


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AT NESTLE

Formal assessment by Line Managers and HRonce in a year with feedback.

Subordinate can question an unfair evaluation.

Specific Key Performance Indicators havebeen enlisted by the HR department.

One of the important key performanceindicators is achievement following the Nestlemanagement and leadership principles.

Remuneration structure and promotion criteriatake into account individual performance.


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PERFORMANCE OBJECTIVES

The performance Objectives is to ensure that employees list

the key performance priorities in a given performance year.

These objectives need to be aligned with the business and

manager objectives and should be discussed and agreed with

the manager.

As the level of performance achievement influences the level

of reward, visibility on how each employee can influence their

reward via their performance.

Short Term Bonus is influenced by level of performance .

In order to create a complete picture of an employee's

performance achievement in a given performance year,

managers and employees should also compete, as

achievement against these objectives will influence the


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PE 4 PHASES

Objective setting (Jan-Feb): Performance objectivesare agreed with the manager.

Interim Review (Jun - Aug): Review progress againstobjectives.

Calibration Meeting (Dec-Jan): Managementmeeting to ensure effective and equitable

performance evaluation across the organization.Year End Review (Dec-Feb): PE rating - evaluation ofachievement against objectives (What) and NestlBehaviors (How).


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THE 4 NESTLE BEHAVIOURS

Practice What You Preach,Result Focus,

Proactive Cooperation and

Initiative in the execution of your objectives


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BEHAVIOURAL CORE COMPETENCY


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Transparent performance appraisal

systems

and the freedom given to them to

question their seniors benefit not onlythe employees but even the

organization as a whole


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Reward Principles Performance Driven - The level of your Reward is linked to your

performance, hence the highest performers will see the greatestReward. There is also a direct link between the performance of

the business and the Reward we're able to offer

Competitive - We benchmark all aspects of Reward to ensure weoffer all our employee competitive Reward package

Inclusive - Our Reward program is designed to reflect the

valuable contribution which every employee makes, not justsenior managers

Flexible - We've made it our top priority to allow you to tailor the

Reward you receive toy our circumstances, whenever possible orpractical.


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REWARDS & INCENTIVES

Passion to Win awards- These quarterly awards have beeninstitutionalized to reward those who over-achieve their targets.

Long-service Awards- To recognize employees who have beenwith the company for more than 30 years.

Nestle Idea Award- It was found from the correspondent thatthe company institutes Nestle Idea Award every quarter to

recognize and award employees who come up with relevant andinnovative ideas which have the potential of being implementedat Nestle . For all aspects of Reward Nestle apply the fundamentalprinciples outlined below


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Achievement

level of performance achievement

will have a direct impact onemployees Salary Review and Short

Term Bonus (STB) pay out (if

applicable).


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Performance Development Guide

Development areas are found out on the basis of

dialogue between line manager and subordinate

Allows employees to improve his/her career goals,

strengths and development needs.

It helps the organization to develop a focused and

actionable development plan

Quality development of employee during appraisal


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NESTLE BEHAVIOURS

RATING SCALE

OBJECTIVES EVALUATION(WHAT):

Not achieved

Achieved

Exceeded

BEHAVIOURAL EVALUATION (HOW):

Does not meet standardsMeet standards

Exceed standards


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CONCLUSION

Nestle is the world leader in FMCG industry.

People trust on the products launched by the

company even the product is facing some

problems. Nestle today move for new strategies

to retain their customer and also want to get

new customer. Nestle enhance their internal and

external policies to satisfy their customers andalso their employees. HR plays a major role to

maintain Nestle status in the market.


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Documents

Pcm Project