Performance Appraisal System

A schooling ON executing measurement SYSTEM do FOR BAJAJ FINSERV LIMITED PROJECT REPORT Submitted in the in collar fulfillment for the demo of MASTER OF BUSINESS ADMINISTRATION Submitted By SOFIYA TARRANNUM (Roll no(prenominal) 2128-11-672-018) Under the foc apply of ASHARA ANJUM HYDERABAD establishment P. G. COLLEGE (Affiliated to Osmania University Hyderabad, and approved by AICTE. DECLARATION I here by adduce that the render proceeding entitled A nurture ON capital punishment estimate SYSTEM, submitted by me below the supervision of, ASHARA ANJUM, segment of MBA, HYDERABAD governance P.G COLLEGE. HYDERABAD submitted for the requirement for the award of the Master of profession Administration of OSMANIA UNIVERSITY and it is entirely master key and has non been submitted earlier by any one for any decimal point or Diploma. PLACE HYDERABAD DATE (SOFIYA TARRANNUM) schedule NO 2128-11-672-018 CERTIFICATE This is accept that the project work entitled A STUDY ON PERFORMANCE judgment SYSTEM is bonafide work done and submitted by SOFIYA TARRANNUM, in breakial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION in HYDERABAD PRESIDENCY P.G COLLEGE (Affiliated to Osmania University, Hyderabad and approved by AICTE, during the year 2012-2013. ASHARA ANJUM ARSHAD UR REHMAN Project Guid Head of Department Hyderabad Presidency P. G College Hyderabad Presidency P. G College Hyderabad-500089. Hyderabad -500089. ACKNOWLEDGEMENT First of just now, I think almighty god who has blessed me whole through my life. I wish to express my sincere indebtedness to our principal, prof.ARSHAD UR RAHMAN. HYDERABAD PRESIDENCY COLLEGE. My aim-headed take hold thanks and deep finger of gratitude of , Head of the Department, HPC for his valuable reinforcing stimulus and encouragement . I express my sincere thanks to my guide, ASHARA ANJUM, associate professor for their valuable guidance and shadows and being instr umental in having shape to my project work. I would bid to thank entire faculty members in Hyderabad Presidency p. g college. for their support and inspiration for sure-fire completion of the project they were the nigh caring and the vanquish critics during the course of y project and enabled me to be creative and multi-dimensional in my approach. I volition re important always debited to them. Last but non the least, I wish to acknowledge with gratitude for the support and encouragement extended by my family members for the conquestful completion of the project. (SOFIYA TARRANNUM) EXECUTIVE SYNOPSIS HYDERABAD PRESIDENCY P. G COLLEGE A STUDY ON PERFORMANCE APPRAISAL DONE FOR BAJAJ FINSERV LIMITED. NAME SOFIYA TARRANNUM UNDER THE GUIDENCE OF ROLL NO -2128-11-672-018 ASHARA ANJUM defer OF CONTENTTOPICSPAGE NO. CHAPTER-1 intromission 9-16 RESEARCH METHODOLOGY17-19 CHAPTER-2 LITERATURE REVIEW14-25 CHAPTER-3 THE keep ships telephoner/ ORGANIZATION/ SYSTEM26-43 CHAPTER-4 DATA depth psychology44-68 CHAPTER-5 FINDINGS,SUGGESTION & CONCLUSION 69-74 BIBLIOgraphical recordY76 QUESTIONARE 77 LIST OF turn offS AND interpret Sl no(prenominal) FiguresPage No 1. Project Goals atomic number 18 distinct from functional Goal45 2. Position on the keister of surgical procedure46 3. Scope of using the innovating skills in qualification Decesion47 4. pctage of engineer matching with Goal48 5. Discuss several(prenominal)bodyal problem with transcendent49 6.Superior contribute to see their goal50 7. Methods of judgment51 8. social group Relationship 52 9. Employee appreciation53 10. Feedback precondition by mensurater54 11. Employee opinion around frequency of approximation constitution55 12. survey on per press toance linked deed polity56 13. Training need57 14. Employee opinion on judgment sustainment58 15. judgment System59 16. Rating strategy60 17. Planning61 18. think of of employee in the arrangement62 19. Improvement in employment pr ocess63 20. egotism-importance estimate64 21. Effectiveness of assessment65 22. Employee Satisfiction66LIST OF CHARTS Sl No. FiguresPage No 1. Process Flow Chart of Appraisal24 2. Service at Bajaj Finserv peculiar(a)25 3. slaying Rating against mortal point 27 4. Summary detail of portfolio32 5. ecesis body structure of Bajaj Finserv35 6. Appraisal by first of all Assessor37 7. Appraisal by fleck Assessor38 CHAPTER-1 INTRODUCTION RESEARCH METODOLOGY RESEARCH METHODOLOGY Research design descriptive in nature Research instrument A well(p) organise questionnaire Population size 275 strain size deoxycytidine monophosphateSampling unit Technical Sample procedure convenience sampling Sources of entropy Primary & standby info Primary data Primary data is collected from the responsives through Questionnaire & interacting with the associates. Secondary data Secondary data is collected from the variant text books On get alongance estimation, society reports, co mpany Broachers and company websites. ww. bajajfinserv. com Statistical tool burthen ordinary musical arrangement and easy percentage method. This chapter deals with the deed of the airfield, the Need of the teach i. e. for what offer the say is actually carried out, the Scope of the study, the Objectives of the study, the Various sources of data collection, the plain instruments employ for conducting survey desire Questionnaire, Interview etc, the way the data is analyzed, the foundation of the study and finally the limitation involved in the study.TITLE OF THE STUDY The Title of the study is STUDY ON PERFORMANCE APPRAISAL SYSTEM At BAJAJ FINSERV LIMITED , Hyderabad, and Andhra Pradesh. NEED FOR THE STUDY ?Per mannikinance estimate has been considered as a or so signifi stick outt and dispensable tool for an physical composition. It is highly useful in making decisions regarding various get(prenominal) aspects. Per con spend a pennyationance appraisal developing criteria for forwarding and c beer instruction. ?It take into account a synthetic feed back to the employees regarding thither public presentation with in a contain block of time.It prevent grievances and increases the analytical abilities of the supervisors The boilersuit impersonals of act appraisal is to change the efficiency of an enterprise by attempting to mobilize the ruff possible effort from individuals employed SCOPE OF THE STUDY The scope of the study has been confined to the associates of Bajaj Finserv limited. It entangles associates of various segments with different cadres only top-level executives ar excluded from the study. OBJECTIVES OF THE STUDY ?To study the existing proceeding appraisal administration at B F L. ?To evaluate the effectiveness of appraisal brass. To offer lead for bet callent in performance appraisal system. RESEARCH formulate descriptive study A research design is the arrangement of conditions for collection and digest of da ta in manner that aims to combine relevance to the research purpose with economy in procedure. RESEARCH INSTRUMENT Making researches hand a choice of two main research instruments in ac semenulation primary data. They ar questionnaire and mechanical devices. Hear the research instrument utilise in a structure questionnaire, which is c arfully and well designed. It includes some(prenominal) go around and close ended questions.The questionnaire is personally administered to the respondents and clarify the doubts if any , and the responses were solicited. SAMPLING DESIGN POPULATION In statistical uses the term population is any mortal or infinite collection of individuals. The populations of this study are associates of the technical section of the company. Population size Population size constitutes 275 associates Sample size A seek size is 100 Sample unit A sample unit is profit department. SOURCES OF DATA COLLECTION selective information for the present study is collecte d through two sources i. e. through primary data and instanthand data.Primary Data The primary data is collected through Questionnaires and interacting with the associates. Secondary Data For the study on performance Appraisal System the secondary Sources utilise are various Textbooks on cognitive process Appraisal, company reports, company policies, brochures and various websites. STUDY INSTRUMENTS The questionnaire is framed to find out the effectiveness of Performance Appraisal of Bajaj Finserv restrict. It contains 24 questions. It is make dod into four sections. Setting Of Goals Role Of Superior Feedback and Evaluation organisational EffectivenessANALYSIS OF DATA The collected data is tabulated and then analyzed by simple percentage, leaden clean and represented by different types of charts and charts. The analysis of data is on the basis of the questionnaire collected from the associates. CHAPTER-2 LITERATURE REVIEW CONCEPTUAL simulation DEFINITION OF PERFORMANCE APPR AISAL To define the concept of performance appraisal the management gurus defy taken certain common parameters and on the basis of that they have defined the term. The terminology of the definitions whitethorn differ but the overall misbegottening of the definition remains egotism-importancesame(prenominal). just about of the trail definitions are given to a lower place ?Performance appraisal is a systematic check up on of a persons work and touchments over a recent limit, usually leading to plans for the future. ?In, its most basic form, performance appraisal includes documenting achieve issues (Hopefully, by excessively including use of examples to clarify documentation) and indicating if standards were met or non. ?The appraisal usually includes some form of development plan to address insufficient performance. ?The grade of an individuals work performance in order to arrive at objective personnel decisions.PURPOSE OF TRADITIONAL PERFORMANCE APPRAISALS Performance appraisal for evaluation using a traditional approach has served the following purposes ?Promotion, separation, and transfer decisions. ?Feedback to the employee regarding how to validation viewed the employees performance. ?Evaluation of relative contributions made by individuals and departments in achieving high(prenominal)(prenominal) organization goals. ?Criteria for evaluating the effectiveness of selection and placement decisions, including the relevance of the information utilize in the decisions within the organization. Reward decisions, including merit increases promotions and opposite rewards. ?Ascertaining and diagnosing, training and development decisions. ?Criteria for evaluating the success of training and development decisions. INSIGHT INTO APPRAISAL THEORY Organizations in their daily activities works cover up loads of activities. The employees working in the organizations carry on these activities. Organization activities done by the employees are termed as p erformance the vernacular that is all time in the heads of the management. The success of the organization depends upon the performance of its employees primarily organizations did non have any kind of particular methodology to handle the issues relating to measuring of performance because they did not had an understanding that the performance of the employees plays an signifi dopet power in the overall functioning and meeting goals and objectives of the organizations. Performance is measured fundamentally on the basis of the goals by an individual, which contribute to the overall organizational goals. The main think is on meeting the overall goals and objectives of the organization in the specific time span.In doing so the organization moldiness besides see that the individual self-development and personal goals are also fulfilled. When the individual is able to synchronize his personal goals with that of the organizational goals then the working of the system result be apt. prolusion OF THE APPRAISAL SYSTEMS The appraisal is both inevitable and universal. In the absence of carefully structured system of appraisal, people tend to judge the work performance of others ,including ranks, naturally, informally and arbitrarily.Without a structured appraisal system there is a little medical prognosis of ensuring that the judgments made get out be lawful, fair, defensible and accurate. The account of performance appraisal is quite brief. Its roots in the early twentieth century can be traced to Taylors pioneering time and motion studies. merely this is not very serveful, for the same may be say around almost everything in the field of modern human resource management. The apply of appraisal is an ancient art. In the master of things historical , it might well lay claim that appraisal is the world second oldest profession.Performance appraisal systems began as simple methods of in seminal fluid justification. That is, appraisal was utilise to decide whether or not the wages or wage of an individual employee Was justified. Little consideration, if any, was given to the developmental possibilities of appraisal. It was matte up that a cut in a pay, or a rise, should provide the only required impetus for an employee to either improve or breed to perform well. Pay rates were important, yes but they were not only the part that had an impact on employee performance.It was found that other issues, such as morale and self-esteem, could also have a major influence. APPRAISALS IN TODAYS CORPORATE WORLD The modern system of performance appraisal is defined as a structured formal inter work on betwixt a subordinate and supervisor, that usually takes the form of a periodic interview (yearly or semi-annual), in which the work performance of the subordinate is examined and discussed, with a view to pointing weaknesses and strengths as well as opportunities for improvements and skill development.In many organizations but not all apprai sal results are used, either directly or indirectly, to uphold patch up reward outcomes. That is, the appraisal results are used to identify the break up acting employees who should get the majority of available merit pay increases, bonuses and promotions. By the same token, appraisal results are used to identify the un costyer performers who may require some form of counseling, or in some cases demotion, dismissal or decreases in pay. (Organizations need to be aware of laws in their country that might throttle their cleverness to dismiss employees or decrease pay. FLAW EXIST IN TRADITIONAL PERFORMANCE APPRAISAL SYSTEM oWork scheduling plans oBudgeting o benignant Resource formulation MOSTLY USED METHODS OF PERFORMANCE APPRAISAL RATING SCALES The judge carapace method offers a high degree of structure for appraisals. Each employee character or characteristics is rated on the bipolar scale that usually has several points ranging from poor to excellent . The traits assesse d on these scales include ? Cooperation ?Communication ability ?Initiative ? promptness ?Technical competenceThe nature and scope of the traits selected for inclusion is limited only by the imagination of the scales source or by the organizations need. BEHAVIORAL ANCHORED RATING SCALES The term used to describe a performance rating that focused on specific behaviors or arranges as indicators of effective or powerless performance, rather than on broadly supposed adjectives such as norm, above average, or below average . bright RATING SCALES The term used to define the oldest and the most widely used performance appraisal method.The evaluator are given a graph and asked to rate the employees on each of the characteristics. The number of characteristics varies from one to hundred. The rating can be a matrix of boxes for the evaluator to check off or a bar graph where the evaluator checked off a location relative to evaluators rating. CHECKLIST The term used to define a set of a djectives or descriptive statements. If the rater believed the employee possessed a trait listed, the rater checked the item if not, the rater left the item blank. The rating account from the checklist equaled the number of checks.WEIGHTED CHECKLIST The term is used to describe an alternative method of performance appraisal where the supervisor or personal specialists familiar with the trick being evaluated get a gigantic list of descriptive statements about effective and ineffective behavior of crinkles. rank METHOD The term ranking has been used to describe an alternative method of performance appraisal where the supervisor has been asked to order his or her employees in terms of performance from highest to lowest. CRITICAL INCIDENT METHODThe term is used to define a method of appraisal that made lists of statements very effective and very ineffective behavior for employees. The lists have been combined into categories, which vary with the business concern. Once these cate gories are real and a statement of effective and ineffective behavior has been provided, the evaluator save examples of exact behaviors, and the log has been used to evaluate the employees at the end of evaluation period. NARRATIVE OR ESSAY EVALUATION This method requires the evaluator to sack out a short essay describing each employees performance during the raring(predicate) period.This format emphasizes evaluation of overall performance, base on the strengths and weaknesses of an employee performance. Some companies calm use this method exclusively, whereas in others, the method has been combined with the graphic rating scale. MANAGEMENT BY OBJECTIVES The management by objectives performance appraisal method has the supervisor and the employee get together to set objectives in quantifiable terms. The appraisal method has worked to eliminate communication problems by the establishments of regular meetings, emphasizing results, and by being an on-going process. Cascading o f organizational objectives oSetting up of subordinate objectives oReviewing and evaluating the performance oFeedback and rewards oSetting up of new MBO. 360 DEGREE PERFORMANCE APPRAISAL Performance Appraisal by all the parties like supervisors, peers, subordinates, employees themselves, users of service and consultants is called 360 degree Performance Appraisal. The surveyr should be capable of determining what is more important and what is less important. He should prepare reports and make judgments without any bias. self APPRAISALIf individuals understand the objectives they are anticipate to achieve and the standards by which they are to be evaluated, they are to a great expiration in the scoop out position to appraise their own performance. Also, since employee development squiffys self-development employee who appraises his or her own performance may become highly motivated. MERITS OF AN APPRAISAL SYSTEM Perhaps the most significant benefit of appraisal is that, in the rush and bustle of daily working life, it offers a rare find for a supervisor and subordinate to have time out for a one-on-one backchat of important work issues that might not other than be addressed.Almost universally, where performance appraisal is conducted properly, both supervisors and subordinates have reported the let as beneficial and positive. Appraisal offers a valuable opportunity to focus on work activities and goals, to identify and correct the existing problems, and to encourage better future performance. Thus the performance of the whole organization is enhanced. The value of this piercing and purposeful interaction between a supervisor and subordinate should not be underestimated. Motivation and SatisfactionPerformance appraisal can have a profound effect on levels of employee motivation and satisfaction. It provides employees with recognition as an incentive has been capacious noted. In fact, there is evidence that human beings will even opt negative recogn ition in likeence to no recognition at all. Training and Development Performance Appraisal offers an excellent opportunity mayhap the best that will ever occur for a supervisor and subordinate to recognize and add upon individual training and development call for. Recruitment and inductionAppraisal data can be used to monitor the success of the organizations recruitment and induction practices. For example, how well are the employees performing who were hired in the past two years? Appraisal data can also be used to monitor the effectiveness of changes in recruitment strategies. By following the yearly data relate to new hires it is possible to assess whether the superior normal quality of work force is improving, staying steady, or declining. Employee Evaluation though often understated or even denied, evaluation is a licit and major objective of performance appraisal.But the need to evaluate is also an ongoing source of tension, since evaluative and developmental prioritie s appear to often clash. Yet at its most basic level, performance appraisal is the process of examining and evaluating the performance of an individual. It is been said by some that appraisal cannot serve the needs of evaluation and development at the same time it must one or other. EXPECTATIONS FROM coach-and-four IN DOING PERFORMANCE APPRAISAL Translate organizational goals into individual job objectives Communicate management expectations regarding employee performance. Provide feedback to the employee about the job performance in light of managements objectives. Coach the employee on how to achieve job objectives/requirements. Diagnose the employees strengths and weaknesses. Determine what kind of development activities might help the employee better utilize his or her skills to improve performance on the flow job. CRITERIA OF A SUCCESSFUL PERFORMANCE OBJECTIVE Specific What specifically is to be achieved? Not just what actions are to be performed, but what results are to be achieved through these actions? Keeping objectives simple ensures they are clear and specific.This also reduces the chance for dis barfes or confusion come performance appraisal time. Measurable How will you know how well an objective has been achieved? Although it may not be pronto apparent, every object can be measured. Some measures can be measured quantitatively others must be measured qualitatively. Accountable obligation for performance objectives must be crystal clear and specifically state who is accountable. The more detail the better. A clear definition of what he or she is specifically accountable for will help reduce confusion cum performance appraisal time.Defining accountability will ensure a sense of urgency and purpose on the part of the employee. Realistic For an objective to be look uponingful, it must be realistic and reasonable. A well-written performance objective focuses on the goals and objectives required to meet the objective. In highly efficient organizat ions, performance objectives last link back to the companys overall strategy and task plan. Objectives should challenge employees towards continuous improvement, but should not be unrealistic or unattainable. Time base An achievable time frame must be set for reaching the objectives.Consider assigning specific target dates not only for the performance objective itself, but also each lesser milepost linking the entire goal. Remember to be specific towards achieving results and guide action in a results oriented ways towards the objective. PROCESS FLOW CHART OF APPRAISAL GENERAL INSTRUCTIONS The performance rating against individual item in the appraisal is to be done on a 1-5 point scale as follows RATINGEXPLANATION 5OUTSTANDING- Exceeds requirements significantly and consistently in all critical work aspects. Showed tremendous initiative and is very proactive . 5EXCELLENT- Performance at the highest standards. possesses and efficaciously utilized where undeniable, the knowledg e in areas beyond those required for the discharge of critical responsibilities. Exceed requirements in most critical areas. Plans and executes well 4VERY GOOD- Demonstrates effective skills in most and demand responsibilities. Some skill areas still need improvement in order to excel at the job. 3. 5GOOD- Demonstrates skills in some essential areas. There is scope for improvement in some critical right areas. Shows initiative. ABOVE AVERAGE- Demonstrates skills in some of the essential responsibilities. Performance is adequate for the flow rate review period. Supervision is required to execute tasks in many areas. 2AVERAGE- Demonstrates average skills in most of the essential responsibilities. Meets targets with continuous supervision. Intensive training is required, 1 infra AVERAGE- Demonstrates Level of skills that has been unsatis brokery and inadequate for the discharge of the essential responsibilities. consistently fall short of requirements. High level of supervision is required.Assessments duly realized in all respects, are to be forwarded to HR, in sealed envelopes. CHAPTER-3 The Company/ Organization/ System COMPANY PROFILE AN INTRODUCTION TO BAJAJ FINSERV LIMITED INTRODUCTION INTRODUCTION Bajaj FinServ will strive to be one of the top monetary services businesses in India focused on retorting superior customer induce through competitive products and class leading services while providing consistent and superior returns to our shareholders and maintaining the high levels of integrity of Bajaj. Company profileBajaj Finserv Limited (Bajaj Finserv) is a holding company. Bajaj Finserv is the monetary services arm of the Bajaj group. Its monetary services businesses include lending, defense, and pecuniary advisory and wealth management. The Company operates in four segments Insurance, Windmill, retail Financing and Investments & others. It does lending business Under Bajaj pay Limited (BFL). Its certificate business consists of life insuran ce, under the Bajaj Allianz Life Insurance Company (BALIC), and general insurance, under the Bajaj Allianz ordinary Insurance Company (BAGIC).The Companys fiscal Advisory and Wealth counseling business consists of Bajaj Financial Solutions Limited (Bajaj Finsol), which offers financial products and advises clients on financial and wealth management. In addition, as of March 31, 2012, Bajaj Finserv had wind-farm assets, incorporating 138 windmills in Maharashtra with an installed capacity of 65. 2 megawatt. Bajaj Finserv endeavors to become a full fledged financial services company and be the financial partner to the Indian consumer and help him across his financial needs throughout his lifecycle.Bajaj Finserv is a consumer focused company with dialect on profitable growth and operational efficiency to deliver best results to all its stakeholders. Bajaj Finserv Group companies share common values of Reliability, renewal and Efficiency and provide customers with high quality produc ts and services. Key focus areas for Bajaj Finserv are Lending, Investment, Protection and Advisory. Bajaj Finserv also has interests in Wind farms with 138 windmills and a total installed capacity of 65. 2 MW BAJAJ FINSERV LIMITED VISIONBajaj Finserv has a vision to become a full fledged financial services company and be the financial partner to the Indian consumer and help him across his financial needs, whether for finance, for investment management, for protection or for post retirement support, throughout his lifecycle. Bajaj Finserv is a consumer focused company with emphasis on profitable growth and operational efficiency to deliver best results to all its stakeholders. MISSION Bajaj Finserv is a consumer focused company with emphasis on profitable growth and operational efficiency to deliver best results to all its stakeholders. COREVALUES ?Trust ?Integrity ?Commitment ?Respect for people ? macrocosm OBJECTIVE To create value and delight for our stake holders QUALITY form _ or_ system of government To excel in providing Financial services that meets or Exceeds customer requirements through continual improvements NATURE OF ACTIVITY ?Our Products & Services ?Loans Against Property ? Personal Loans ? stage business Loans ? internal Loans ? Infrastructure Equipment pay ? Loans Against Securities ? Consumer Durable Loans As a value-added service we also provide insurance services like Group border Policy and Group Term Suraksha bundled with our products.VARIOUS DEPARTMENTS ?Operations ?Human resources ?Finance ?Networking and systems ? tone of voice ?Corporate services ?Collection ?Sales ?Product ?Marketing mess considered as familiar spirits BAJAJ FINSERV believes our people are our strength, & this is the very reason why Bajaj term them as Associates rather than employees. The work culture is people oriented, where individual aspirations are matched with organizational Objectives. Our associates exemplify our customer-oriented work style.The employe es at BFL are comfortable working across cultures and across contexts their consistency and dependability lies in their emphasis on creating solutions that are problem-focused, high on quality and quick in terms of time-to-market. Bajaj Group. Its insurance joint ventures with Allianz SE, Germany namely Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited are prosecute in life and general insurance business various(prenominal)ly. Its subsidiary Bajaj Finance Limited is a Non Banking Finance Company engaged in consumer finance, SME finance and moneymaking(prenominal) lending.Bajaj Financial Solutions Limited, a wholly owned subsidiary of Bajaj Finserv Limited is engaged in wealth advisory business. SERVICES AT BAJAJ FINSERV LIMITED Bajaj Finance Limited We are the most diversifed non-bank in the country, the largest financier of consumer durables in India and one of the most profitable firms in the category. Hereunder are drumhead detai ls of our portfolio of businesses, with a brief description on each. Consumer FinanceConsumer Durables Finance Lifestyle Finance EMI Card Personal Loans Cross Sell Co-branded consultation Cards Two and three wheeler FinanceSalaried Personal Loans SME FinanceMortgage Business Loans commercial message LendingConstruction Equipment Finance Infrastructure Finance Vendor Financing Awards and Accomplishments The recognition that matters the most to us is the one we receive from our customers. That was how it was when we lettuceed. That will be even when we have a treasure trove of Industry Recognition and awards Awards Recently, we won the CIO 100 Innovation award for two of our innovations countries such as Canada, Sweden, Australia, Singapore, Vietnam, Hungary and India, the CIO 100 Awards is a truly global recognition.It is an acknowledged mark of excellence in enterprise IT. Management Profile Sanjiv Bajaj Managing Director Kevin DSa CFO and President Business development Ranjit Gupta President (Insurance) S. Sreenivasan President (Finance) V. Rajagopalan President (Legal) Sonal R Tiwari Company secretarial assistant OFF SHORE POLICIES PERSONAL BENEFITS ?Leave ?Onsite return leave policy ?Personal leave policy ?Loans for house rental deposit ?Home pc ?Telephone at residence ?Facilities to the associates TRAVEL RELATED ? planetary travel ?Domestic travel ?Conveyance reimbursement ?Car hire motion policy ?Relocation wages WORK PLACE BASIS ? functional hour ?Dress code ?Identity menu ?Business card ?Late/holiday working ?Work ethics ?Shift allowance OTHER POLICIES ?Reward and recognition ?Staff welfare allowance ?Associate referral ?Work ethics ?Higher education BAJAJ FINSERV LIMITED OFFERINGS Organisation Structure Performance Appraisal System at Bajaj Finserv Ltd PERFORMANCE MANAGEMENT APPRAISAL PROCEDURE PERFORMANCE APPRAISAL FOR ASSOCIATES OF HOD LEVEL PURPOSE To appraise the performance of all the associates at HOD level in BAJAJ FINSERV LIMITED PROCE DURE General Annual appraisal is done during the calendar month of April, every year for all the confirmed associates who are on the rolls as on 31st declination of the previous year. Distribution of Appraisal names for annual appraisal, the HR will distribute the appraisal forms to the CEO for further distribution to the bear on appraisers. Self- backing At the start of the appraisal process, every assessee will fill a self-documentation form and give it to the relate valuator. Appraisal by Assessor The Assessor will perform the assessment upon receiving the self Appraisal course of action from the assessee.The forms to be used for appraisal is as given in the table below Sl. NoTitle of the formUsed for Appraisal of 1Self Documentation formAll Associates at HOD Level 2Performance Appraisal Form(HOD)All Associates at HOD level word weting of Appraisal The Assessor will discuss the assessment results with the assessee. If the assessee consorts to the assessment, then the ass essee and the relate assessor will sign on the Performance Appraisal Form and the first assessor (CEO) will also give his final authorization.The appraisal form, terminated in all respects is received from the CEO. Follow-up of Appraisal The HOD (HR) will issue the rewrite hire/ promotion letters to the assesse based on the performance Appraisal form and discussions with the concerned first assessor. HR informs the revised allowance/ promotion details of an assessee to finance for processing the same by updating the Associate database. Appraisal Records the HOD (HR) will maintain the performance appraisal records in the personal file of each associate. PERFORMANCE APPRAISAL FOR ASSOCIATES BELOW HOD LEVELPURPOSE To appraise the performance of all the associates below HOD level in BAJAJ FINSERV LIMITED. PROCEDURE General Annual appraisal is done during the month of April, every year for all the confirmed associates who are on the rolls as on 31st December of the previous year. D istribution of Appraisal Forms For annual appraisal, the HR will distribute the appraisal forms to the HOD for further distribution to the concerned appraisers. Self-Documentation At the start of the appraisal process, every assessee will fill a self-documentation form and give it to the concerned Appraiser. Appraisal by Assessor the Appraiser first assessor) will perform the assessment upon receiving the self Appraisal Form from the assessee and forward the performance appraisal form to the subscriber (second assessor). The forms to be used for appraisal is as given in the table below Sl noTitle of the formUsed for appraisal of 1Self Documentation form technicalAll technical Associates below HOD Level 2Self Documentation form Non technicalAll non- technical Associates below HOD Level 3Performance Appraisal Form (PL/PM)All associates at designer and above level but below HOD Performance Appraisal Form (Team members)All Associates at Team member (Manager/asst manager) level 5Perfo rmance Appraisal Form (Non Technical)All Associates below HOD Level in non- technical Dept The level of the associate to be appraised in areas other than technical is as per the policy Guidelines . Appraisal by second Assessor The reviewer (second Assessor) will review the assessment upon receiving the performance appraisal form from the appraiser (first assessor). During annual appraisal, the first/ second assessor will give the performance rating based on joint assessment. Acceptance of Appraisal The appraiser (first assessor) will discuss the assessment results with the assessee. If the assessee contains to the assessment, then the assessee and the concerned appraiser (first assessor) will sign on the performance appraisal form and the form will be forwarded to the second assessor/ HOD for final authorization. In case of conflict, the appraisal form will be referred to the concerned reviewer (second assessor). The second assessor will be responsible for further action on the s ame.For all cases of conflict and where no second assessor exists, concerned HODs will act as the second assessor. The appraisal form, complete in all respects is received by HR form the respective head of the department. Follow-up of Appraisal The HOD (HR) will issue the revised salary/ promotion letters through reporting managers to the assesses based on the performance Appraisal form and discussions with the concerned head of the department. HR informs the revised salary/ promotion a detail of an assessee to finance for processing the same by updating the Associate database. Appraisal Records the HOD (HR) will maintain the performance appraisal records in the personal file of each associate. APPRAISAL FORMAT SELF DOCUMENT FORM The self-document form mainly includes all those contents, which are needed for the evaluation of performance appraisal. The employees through the online facility fill this document form. This includes the general information like the associate id, name, de signation, department, procedure/level, qualification, and date of joining, location, and relevant experience. This form also includes the assessee remarks that have evaluated the form. The various areas like the employees achievement, area where the employee have not performed up to the expectation, assessees strengths, areas of improvement are also included. These areas are evaluated both by the Assessee, Assessor 1 and Assessor 2. The training programs attend and which the employee would like to attend is also included. The career aspiration of the employee is also a part of the self-document form . GENERAL INSTRUCTIONS FORTECHNICAL ASSOCIATES The Self-documentation form should be complete in all respects. 1. What do you see as your major achievements for the period under review? . What Factor(s) enabled you in your achievement? 3. Constraints, which affected your overall performance. arguing your own efforts to exploit the opportunities and overcome the difficulties? (Include your strategies and tactics) 4. Your initiatives and contributions to the organization during the review period e. g. Cost savings, revenues, profits, technology enhancements, process improvements etc 5. Project related data for the periodic review, which includes name of the project, role played by you in each of the project and number of hours put in. 6.What have you gained from the training programmes you have attended and where you have applied the breeding? 7. Your key result areas for coterminous review period. One of the key result areas should be for self-development. GENERAL INSURANCE FOR NON TECHNICAL ASSOCIATES The Self-documentation form should be complete in all respects. I. What do you see as your major achievements for the period under review? II. What Factor(s) enabled you in your achievement? III. Constraints, which affected your overall performance. List your own efforts to exploit the opportunities and overcome the difficulties? Include your strategies and tac tics) IV. Your initiatives and contributions to the organization during the review period e. g. Cost savings, revenues, profits, technology enhancements, process improvements etc V. What have you gained from the training programmes you have attended and where you have applied the learning? VI. Your key result areas for next review period. One of the key result areas should be for self-development. CRITERIA OF APRRAISAL RELATED AREAS Task related areas Achievement of results Output of work Quality of work Quality system Conceptual skills Total perspective Integrated skillsProactive skills Analytical and Planning skills Human skills Leadership Ability to inspire and motivate Interpersonal blood address and cooperation Training and development of subordinates Communication Resolution of conflict Functional skills Job knowledge Planning and organizing Decision-making Personality attributes Openness Empathy and sensitivity Integrity (intellectual and moral) tractableness/Adaptability/ Positive outlook Perseverance Creativity/Innovativeness Capacity to withstand puree Discipline Dependability Loyalty and Commitment Self-confidence Appearance and Bearing. CHAPTER-4DATA ANALYSIS & INFERENCES discussion section -I Regarding Setting Goals 1. Project goals are different from functional goals a)powerfully bear b) harbor c) potently dis couple d) dis retard TABLE 2. 1 OptionsNo of respondentsWeightsTotal jibe powerfully give9218 Agree61161 powerfully differ7-2-14 Dis have got23-1-23 represent 2. 1 inferencebulk of the respondents opined that project goals and functional goals are one and the same with a mean of 0. 42. 2. If I can perform consistently it will see me in high position sooner than later a) strongly support b) accede c) strongly resist d) take issue TABLE 2. OptionsNo of respondentsweightsTotal level powerfully hold back22+244 Agree54+154 strongly dis give12-2-24 Dis outfit12-1-12 represent 2. 2 consequence majority of the respondents a re disciplineing that they can expect themselves in higher position if they perform consistently with a weight down average of 0. 62. 3. My job presents scope for using my innovating skills in making my Decisions a) Strongly tick b) agree c) strongly discord d) resist TABLE 2. 3 OptionsNo of respondentsweightsTotal gull Strongly agree22+244 Agree13+113 Strongly disaccord11-2-22 Disagree51-1-51 GRAPH 2. 3Inference majority of the respondents opined their job does not wake present scope for using their innovating skills in making decisions with a mean of 0. 16. 4. Percent of target matching with goals in 2008 09 a) 80%-100% b) 60%-80% c) 40%-60% d) 20%-40% TABLE 2. 4 OpinionNo of respondentsValue in percentage 80%-100%3333% 60%-80%2929% 40%-60%3131% 20%-40%77% GRAPH 2. 4 Inference 33% of respondents 80%-100%, 31% of respondents 40%-60%, 29% of respondents 60%-80% and 7% of respondents 20%-40%. The analysis shows that only few employees can meet their target on time.Section B About the role of superior 5. I dont falter to discuss any of my personal problems with my Superior a) Strongly agree b) agree c) strongly disaccord d) dissent TABLE 2. 5 OptionsNo of respondentsweightsTotal tote up Strongly agree14+228 Agree61+161 Strongly disagree5-2-10 Disagree20-1-20 GRAPH 2. 5 Inference mass of the respondents agree that they do not hesitate to discuss their personal problems with their superior with a weighted bring in of 0. 6. 6. My superior acknowledging and contributing to set the goals a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. Options No of respondentsweightsTotal earn Strongly agree9+218 Agree 77+177 Strongly disagree5-2-10 Disagree 9-1-9 GRAPH 2. 6 Inference absolute majority of the respondents agree that their superiors acknowledge and contribute to set their goals with a weighted average of 0. 76. 7. My immediate superior often motivates me a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 7 Optio ns No of respondentsweightsTotal score Strongly agree15+230 Agree 67+167 Strongly disagree6-2-12 Disagree 12-1-12 GRAPH 2. 7 Inference Most of the respondents agree that their immediate superior frequently otivates them with a mean of 0. 73. 8. I want my appraisal to be a) occult b) blossom forth TABLE 2. 8 OpinionNo of respondentsValue in percentage Confidential6666% Open3434% Total100100 GRAPH 2. 8 Inference 66% of employees desire that their Performance Appraisal must be confidential and remaining 34% accept it to be open. 9. My interpersonal aggroup relationship with peer, superiors and subordinates a) very reasoned b) good c) adequate d) inadequate TABLE 2. 9 OptionsNo of respondentsweightsTotal score Strongly agree29+258 Agree59+159 Strongly disagree12-2-24 Disagree0-10 GRAPH 2. 9 InferenceMajority of the respondents have a positive opinion towards the interpersonal team relationship with peer, superiors and sub- ordinates is good with a mean of 0. 93 . 10. I detect hig h and motivated when my superior appreciates my work a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 10 OptionsNo of respondentsweightsTotal score Strongly agree35+242 Agree57+162 Strongly disagree4-2-18 Disagree4-1-8 GRAPH 2. 10 Inference Majority of the respondents spirit proud and get motivated when their superior appreciates their work with weighted average of 1. 15. Section c feedback and evaluation 1. Iam open to the feedback given by the appraiser a) incessantly b) some clock c) rarely TABLE 2. 11 OpinionNo of respondentsValue in percentage Always6464% Some times3030% Rarely66% GRAPH 2. 11 Inference 64% of the respondents always, 30% of the respondents sometimes, 6% of the respondents rarely. Majority of the respondents are open to their feedback always. 12. Employee opinion about frequency of appraisal system a) Annually b) half-yearly c) quarterly TABLE 2. 12 OpinionNo of respondentsValue in percentage Annually2828% Half-yearly5858% Quarterly1414% GRA PH 2. 12 Inference 8% of the respondents half-yearly. 28% of the respondents annually, 14% of the respondents quarterly. The analyst gives a clear ikon that most of the associates like to get appraisal half-yearly. 13. Opinion on performance linked promotional policy a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 13 OptionsNo of respondentsweightsTotal score Strongly agree21+242 Agree62+162 Strongly disagree9-2-18 Disagree8-1-8 GRAPH 2. 13 Inference Majority of the respondents agree that the promotions are based on the rating derived from performance appraisal with weighted average of 0. 8. 14. The HRD department follows up the training needs Identified using appraisal earnestly a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 14 OptionsNo of respondentsweightsTotal score Strongly agree7+214 Agree21+121 Strongly disagree18-2-36 Disagree54-1 -54 GRAPH 2. 14 Inference Majority of the respondents are moderately agreed that the HRD dept follow s the training needs identify the appraisal with a mean of 0. 55. 15. According to my opinion the following system is useful for our organization a) Team appraisal b) 360 degree appraisal c) self appraisal TABLE 2. 15OpinionNo of respondentsValue in percentage Team appraisal2929% 360 degree appraisal3636% Self appraisal3535% GRAPH 2. 15 Inference 36% of respondents 360 degree appraisal, 35 % of the respondents self appraisal , 29% of the respondents team appraisal, majority of the respondents opined that the 360 degree appraisal is expenditurey for their organization. 16. Team work is considered as a factor in appraise employee performance a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 16 OptionsNo of respondentsweightsTotal score Strongly agree24+248 Agree58+158 Strongly disagree8-2-16 Disagree10-1 10 GRAPH 2. 16 Inference Most of the respondents agree that team work is considered as a factor in appraising their employee performance with a mean of 0. 8. 17. My opinion on present rating system a) very(prenominal) good b) good c) fair d) poor TABLE 2. 17 OptionsNo of respondentsWeightsTotal score Very good13339 Good562112 Fair18118 Poor13-1-13 GRAPH 2. 17 Inference Most of the respondents are opined that their present rating system is good with a weight age score of 1. 56 Section D organization effectiveness 18. At BFL the appraisal system provides for an open discussion between the Appraiser and appraise ) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 18 OptionsNo of respondentsweightsTotal score Strongly agree18+236 Agree67+167 Strongly disagree8-2-14 Disagree7-1 -7 GRAPH 2. 18 Inference Majority of the respondents are agree that at BFL the appraisal system provides for a open discussion between the appraiser and appraise with a mean of 0. 82. 19. The appraisal system at BFL given each appraise an idea of what is expected Of him next year a) Very rightful(a) b) true c) partly true d) not true TABLE 2. 19 OptionsN o of respondentsweightsTotal scoreVery true15345 True532106 Partly true22122 Not true10-1-10 GRAPH 2. 19 Inference Majority of the respondents opined that A. S at BFL given each appraise an idea of what is expected of him next year with a weighted average of 1. 63 20. Up to what extent do the higher authority action the Suggestions provide By employee a) All times b) some times c) no(prenominal) TABLE 2. 20 OpinionNo of respondentsValue in percentage All times1818 Some times6767 None1515 GRAPH 2. 20 Inference 67% of the respondents sometimes, 18% of the respondents all times, 15% of the respondents none.Majority of the respondents agreeing that the higher authority implement the suggestion provide by employee sometimes. 21. Management support to improve the job performance a) strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 21 OptionsNo of respondentsWeightsTotal score Strongly agree20+240 Agree67+167 Strongly disagree5-2-10 Disagree8-1 -8 GRAPH 2. 21 Inference Ma jority of the respondents are agree that the management supports to improve their job performance of employees with a mean of 0. 89. 22. Performance appraisal helps me to know my strengths and weakness after the Appraisal ) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 22 OptionsNo of respondentsweightsTotal score Strongly agree17+234 Agree61+161 Strongly disagree11-2-22 Disagree11-1 -11 GRAPH 2. 22 Inference Majority of the respondents opined performance appraisal helps to know their strengths and weakness after the appraisal with a mean of 0. 62. 23. The performance appraisal is based on the real records and facts but not on Impressions a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 23 OptionsNo of respondentsweightsTotal score Strongly agree14+228Agree66+166 Strongly disagree9-2-18 Disagree11-1-11 GRAPH 2. 23 Inference Most of the respondents agree that performance appraisal is based on the real records and facts but not an impressions wi th a weighted of 0. 65. 24. Iam paid worthy my contribution a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 24 OptionsNo of respondentsweightsTotal score Strongly agree10+220 Agree66+166 Strongly disagree13-2-26 Disagree11-1-11 GRAPH 2. 24 Inference Most of the respondents are moderately accepting they paid worth their contribution with a weighted average of 0. 49. CHAPTER-6Findings, Suggestions & Conclusion Findings 1 Majority of the respondents opined that project goals and functional goals are one and the same with a mean of 0. 42. 2. Majority of the respondents are agree that they can expect themselves in higher position if they perform consistently with a weighted average of 0. 62. 3. Majority of the respondents opined their job does not showing present scope for using their innovating skills in making decisions with a mean of 0. 16. 4. 33% of respondents 80%-100%, 31% of respondents 40%-60%, 29% of respondents 60%-80% and 7% of respondents 20%-40%.The an alysis shows that only few employees can meet their target on time. 5. Majority of the respondents agree that they do not hesitate to discuss their personal problems with their superior with a weighted score of 0. 6. 6. Majority of the respondents agree that their superiors acknowledge and contribute to set their goals with a weighted average of 0. 76. 7. Most of the respondents agree that their immediate superior frequently motivates them with a mean of 0. 73. 8. 66% of employees desire that their Performance Appraisal must be confidential and remaining 34% accept it to be open. . Majority of the respondents have a positive opinion towards the interpersonal team relationship with peer, superiors and sub- ordinates is good with a mean of 0. 93 . 10. Majority of the respondents feels proud and get motivated when their superior appreciates their work with weighted average of 1. 15. 11. 64% of the respondents always, 30% of the respondents sometimes, 6% of the respondents rarely. Major ity of the respondents are open to their feedback always. 12. 58% of the respondents half-yearly. 28% of the respondents annually, 14% of the respondents quarterly.The analyst gives a clear picture that most of the associates like to get appraisal half-yearly. 13. Majority of the respondents agree that the promotions are based on the rating derived from performance appraisal with weighted average of 0. 78. 14. Majority of the respondents are moderately agree that the HRD dept follows the training needs identify the appraisal with a mean of 0. 55. 15. 36% of respondents 360 degree appraisal, 35 % of the respondents self appraisal, 29% of the respondents team appraisal, majority of the respondents opined that the 360 degree appraisal is adapted for their organisation. 6. Most of the respondents agree that team work is considered as a factor in appraising their employee performance with a mean of 0. 8. 17. Most of the respondents are opined that their present rating system is good wit h a weight avg score of 1. 56 18. Majority of the respondents is agree that at BFL the appraisal system provides for an open discussion between the appraiser and appraise with a mean of 0. 82. 19. Majority of the respondents opined that A. S at BFL given each appraise an idea of what is expected of him next year with a weighted average of 1. 3. 20. 67% of the respondents sometimes, 18% of the respondents all times, 15% of the respondents none. Majority of the respondents agreeing that the higher authority implement the suggestion provide by employee sometimes. 21. Majority of the respondents are agreeing that the management supports to improve their job performance of employees with a mean of 0. 89. 22. Majority of the respondents opined performance appraisal helps to know their strengths and weakness after the appraisal with a mean of 0. 62. 23.Most of the respondents agree that performance appraisal is based on the real records and facts but not an impressions with a weighted of 0 . 65. 24. Most of the respondents are moderately accepting they paid worth their contribution with a weighted average of 0. 49. SUGGESTIONS 1. Implementation of forward-looking ideas in decision making may be encouraged by the management. 2. The management may design the performance linked promotions. 3. The involvement of HRD department may be considered by management in assessing the training needs of employees based performance appraisal system. 4.The superiors should be more approachable when the employees come to them with improvement technique. On the whole the Performance Appraisal system at Bajaj Finserv Limited is Satisfactory. There are few areas which need due attention. The rating must be based purely on the performance. CONCLUSION The conclusions that emerged from the study of Performance Appraisal System at Bajaj Finserv Limited are that the sampled associates prefer that some change should be brought down in the existing system. The associates feel that the best sour ce of motivation is encouragement by superiors.A 360-degree appraisal system has been recommended by some of the associates. Training needs to be identified based on the ratings and effective training programs must be conducted where in the associates can fulfill self development needs as well as organizational needs. LIMITATION OF THE STUDY ?Options expressed by the employee in the questionnaire may not be very genuine. ?What the associates actually feel may not be truly expressed and hence there is the conclusion wasted from them need not apply to the whole organization. Could reach to a limited number of documents of different insurance companies in regard to the management and other policies and resultant figures so as to identify the exact cause of their lock up in performance. ?Non-Proficiency in technical aspects of insurance companies might have hindered the best analysis of the findings. . Bibliography WEBSITES www. bajajfinserv. com www. answers. com www. performanceappr aisal. com www. google. com www. yahoo. com NEWSPAPERS AND MAGAZINE The Hindu personnel management Business right away ICFAI magazines BOOKS Personnel Management Edwin FlippoHuman Resources and Personnel Management-k. Ashwathappa Essential of Human Resource Management-P. SubbaRao Personnel Management-C. Memoria Performance Management and Coaching-Prem Chadda Appendices Questionnaire Section -I Regarding Setting Goals 1. Project goals are different from functional goals a)Strongly agree b) agree c) strongly disagree d) disagree 2. If I can perform consistently it will see me in higher position sooner than later a) Strongly agree b) agree c) strongly disagree d) disagree 3. My job presents scope for using my innovating skills in making my Decisions ) Strongly agree b) agree c) strongly disagree d) disagree 4. Percent of target matching with goals in 2007 08 a) 80%-100% b) 60%-80% c) 40%-60% d) 20%-40% Section-II About the role of Superior 5. I dont hesitate to discuss any of my p ersonal problems with my Superior a) Strongly agree b) agree c) strongly disagree d) disagree 6. My superior acknowledging and contributing to set the goals a) Strongly agree b) agree c) strongly disagree d) disagree 7. My immediate superior frequently motivates me a) Strongly agree b) agree c) strongly disagree d) disagree 8.I want my appraisal to be a) Confidential b) open 9. My interpersonal team relationship with peer, superiors and subordinates a) Very good b) good c) adequate d) inadequate 10. I feel proud and motivated when my superior appreciates my work a) Strongly agree b) agree c) strongly disagree d) disagree 11. Iam open to the feedback given by the appraiser a) Always b) sometimes c) rarely Section-III Regarding Feedback and Evaluation 11. Iam open to the feedback given by the appraiser a) Always b) sometimes c) rarely 12. Employee opinion about frequency of appraisal system ) Annually b) half-yearly c) quarterly 13. Opinion on performance linked promotional policy a) Strongly agree b) agree c) strongly disagree d) disagree 14. The HRD department follows up the training needs Identified using appraisal seriously a) Strongly agree b) agree c) strongly disagree 15. According to my opinion the following system is useful for our organization a) Team appraisal b) 360 degree appraisal c) self appraisal 16. Team work is considered as a factor in appraising employee performance a) Strongly agree b) agree c) strongly disagree d) disagree 17.My opinion on present rating system a) Very good b) good c) fair d) poor Section IV organization effectiveness 18. At BFL the appraisal system provides for an open discussion between the Appraiser and appraise a) Strongly agree b) agree c) strongly disagree d) disagree 19. The appraisal system at BFL given each appraise an idea of what is expected Of him next year a) Very true b) true c) partly true d) not true 20. Up to what extent do the higher authority implement the Suggestions provide By employee a) All times b) s ome times c) none 1. Management support to improve the job performance a) Strongly agree b) agree c) strongly disagree d) disagree .22. Performance appraisal helps me to know my strengths and weakness after the Appraisal a) Strongly agree b) agree c) strongly disagree d) disagree 23. The performance appraisal is based on the real records and facts but not on Impressions a) Strongly agree b) agree c) strongly disagree d) disagree 24. Iam paid worth my contribution a) Strongly agree b) agree c) strongly disagree d) disagree