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PERFORMANCE MANAGEMENT SYSTEM is one of the most important functions in human resource management. It provides the context to link individual objectives with departmental targets, thus supporting and facilitating the attainment of departmental goals. Performance management is the process of creating a work environment or setting in which people are enabled to performance to the best of their abilities. Performance management is a whole work system that begins when a job is defined as needed. It ends when an employee leaves your organization. For more details please visit www.iiceciooleg.com
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Submitted bySubmitted by
Benigopal Benigopal (ROLL No.: 510737044(ROLL No.: 510737044))
A Project onA Project on
National Thermal Power Corporation has been the power behind India`s sustainable power development since November 7, 1975. Contributing 26% of the country’s entire power generation, NTPC today lights up every fourth bulb in the country, with ambitious growth plans to become a 75,000 MW plus power company by 2017. NTPC- the largest power utility of India has already diversified into hydro sector. Further initiatives for greater organizational transformation have been approved under PROJECT DISHA.
NTPC LIMITED: A BRIEF
Type Central Public Sector Undertaking (CPSU)
Established 1975
Headquarter New Delhi, India
Headed By Shri R. S. Sharma, CMD
Core Business Generation of Electricity
Products Electricity
Employees 23867
Sixth largest thermal power generator of worldSecond most efficient utility in terms of capacity utilization One of the nine PSUs to be awarded the status of NavratnaProvides power at the cheapest average tariff in the company.
PERFORMANCE MANAGEMENT SYSTEM is one of the most important functions in human resource management. It provides the context to link individual objectives with departmental targets, thus supporting and facilitating the attainment of departmental goals.Performance management is the process of creating a work environment or setting in which people are enabled to performance to the best of their abilities. Performance management is a whole work system that begins when a job is defined as needed. It ends when an employee leaves your organization.
PERFORMANCE MANAGEMENT SYSTEM
Objective of the study
•To promote professional excellence•To encourage two-way communication between the executive and the reporting officer and bring about transparency in the performance assessment process•To evaluate the potential of the executive to assume higher responsibilities in the organisation•To provide a source of talent for meeting the organisation’s growth requirements through a process of mapping the competencies and potential of executives •To translate future skill requirements of the organization into individual development plans•To identify high performers and recognise them through rewards and incentives.
LINKAGES WITH HR SYSTEM
PMS
PUNISHMENT/DISCIPLINE
KNOWLEDGE
MANAGEMENT
SALARY/PAY
RECRUITMENT
TRAINING & DEVELOPMENT
REWARDS/ RECOGNITION SYSTEM
CAREER DEVELOPMENT
BENEFITS OF PERFORMANCE MANAGEMENT SYSTEM
•Systematic effort to tone up performance based on performance results, appropriate and corrective actions.
•Input for an array of personnel decisions such as placement, transfer, promotion and reward.
• To identify individual with high potential.
•To develop career and succession planning.
•To analyze training and development needs.
•For diagnosing individual and organizational problems.
It is very difficult to find out the actual Performance of any employee. There is not any parameter to measure the exact performance of any person. PMS depends on many other factors like working conditions, work culture, other facilities etc. So it is very limited area to find out actual Performance of any employee.
LIMITATION
CONCLUSION
Increase organisations productivity.
Improvement in growth rate.
Increased employee Job Satisfaction.
Increased employee interest & commitment.
Evaluate your own
performance first
Take time to evaluate your own performance first
Get feedback from others (peers and superiors) to
see how well you are creating an achieving
atmosphere for your executives
Prepare yourself and the
executive for the discussion
Set a date, time and place after consulting with
executive
Ensure that executive is aware of the purpose of the
meeting. Show the same professional courtesy that
is awarded to any business associate
Give the executive the opportunity to ask clarifying
questions prior to and during the meeting
SUGGESTIONS
Contd… Be open, can did and specific Present your assessment openly, clearly and
rationally
Be prepared to present the facts and rationale if
challenged
Give both good and bad news
Discuss executive accomplishments
Focus on performance, not personality
Close the discussion in a
professional manner
Summarize the discussion
Ask for executive’s impression on how the meeting
went
Thank the executive
Explain the follow-up steps
