Synopsis of Performance management project
By freembaprojects - Wed Oct 31, 10:42 am
Synopsis of Performance management project
1.1 Introduction of Company (NHPC):
NHPC Limited (Formerly National Hydroelectric Power Corporation), A Govt. of India Enterprise, was incorporated in the year 1975 with an authorised capital of Rs. 2000 million and with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects. Later on NHPC expanded its objects to include other sources of energy like Geothermal, Tidal, Wind etc
1.2 Performance Management System in NHPC:
E-MAP (Moving Ahead through Performance) is the Performance Management System which is followed in NHPC. E-MAP aims at creating alignment of your goals with those of the company and enables you to effectively manage performance- for yourself and your team.
The system is divided into two parts:
- Part A: Key Result Area (KRA’s)
- Part B: Skill/ Competency Assessment
- Performance in Map: Definition of Performance in MAP is based upon Key Result Areas or KRAs and Routine Responsibilities.
- Map Performance Cycle: A Performance Cycle refers to the year for which your performance is being evaluated. The Performance Cycle of MAP is one year coinciding with NHPC financial year. MAP follows an April to March cycle and consists of three key phases.
1.3 Performance and Development Planning
The targets finalized for the Unit, Product Group, Department and consequently the Section will serve as the starting point for an individual to do his Performance Planning.
KRA is the essential component of any Performance Plan and the individual is expected to fill in this section adhering to all guidelines in order to be able to submit his plan to his Appraiser.
- Selecting the KRAs: The Appraisee will select relevant KRAs from the KRA Master of his function (i.e. the function to which he has been mapped).
- Target Setting and Action Plans for KRAs: For each KRA, 5 levels of performance must be defined by the Appraisee that quantify the extent of achievement in a given timeframe (L5 being the best and L1 being the lowest level of performance)
- Assigning Weightage: The Appraisee will propose weightages between 5% and 25% for each KRA.
- The P&DP is now ready for submission.
- Obtain Appraiser’s and Reviewer’s Sign-off
- Mid Year Review: Mid Year Review is an interactive feedback session between the Appraisee and Appraiser, conducted during the month of October for the half-year ended September 30. It is a mid-cycle process for reviewing and tracking achievements thus reducing the scope for year-end surprises.
- Final Review: The Final Review Phase will begin with the Appraisees’ self-appraisal wherein he/she gives the assessment of Target Achievement on each KRA defined in the Performance Plan (Part-A). Feedback and Coaching by Appraiser will be a key component of the Final Review as this serves as an important input into the next cycle’s Plan.
1.4 Tools of Map: The following tools are used in the MAP:
- Rating Scales: Performance defined in MAP will be evaluated using 5-point Rating Scales. These Rating Scales will be used to assess the extent of accomplishment on KRA Targets, Routine Responsibilities and Competencies.
- Competencies and development plan: The ‘Behavioral’ Competency Master comprises a list of 18 competencies which are common for all Functions.
1.5 Part B- Skill/ Competency Assessment
The Objective of Part B is to assess the Skills/ Competencies possessed by individuals and factor in this assessment for the purpose of Promotion decisions.
There are two sets of Skills/ Competencies mapped to different levels of executives as follows:
- E1A to E5 Skill/ Competency Set-1
- E6 & E7 Skill/ Competency Set- 2
Unlike Part- A, there is NO ‘Self Assessment’ of Part-B by the Appraisee and the score of Part-B as also the Composite Performance Score of Part-A and Part-B will not be shared with the Appraisee. The ratings will be given on a scale of 1-5. 5 being the best and 1 being the worst. Any Competency getting a rating of 1 or 2 will be displayed to the Appraisee as an area for development.
1.6 Research Methodology
- The research design in my case was exploratory research design, which is also known Formulative Research Design.
- Objective of the project: To study the process and to understand the importance of Performance Management System in NHPC that synchronizes the performance of the employees so as to make the work effective.
- Types of data collected: Primary and Secondary
- The sample size of my project is 50.
1.7 Data Analysis
- More than half of the employees are satisfied with the present performance appraisal system.
- 70% of employees think that the current system (e-Map) is better than the previous system (ACR) because earlier their result was totally confidential and was not known to them.
- 60% of the employees think that this system reduces biasness because the KRA evaluation is transparent to each appraisee.
- 80% executives have no problem in selecting the KRA’s because everything is completely elaborated and they are given choices to choose among many of their caliber.
- 85% executives are helped by their appraisers in selecting KRA’s.
- 65% executive feels that these steps are useful as they develop their skills and competencies.
- Most of the appraisees find problem in selecting their KRA’s.
- Some appraisers don’t help their appraisees in selecting the KRA’s as they think its not their work.
- Formal feedback is given by the appraisers on day- to- day basis.
From the research it has been concluded that most of the executives who are not satisfied with the present performance appraisal system are the executives from E1 to E3 level as they think it is quiet complicated. They find problems in selecting their KRA’s from the KRA master as there are so many KRA’s and they have to select the KRA’s which are related to their work.
- Proper training program should be conducted about the E-Map system for the new trainees.
- Whenever there are any changes in the KRA’s the executives should be informed about it in advance.