Infosys - Performance management system
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This presentation offers a brief discussion on the performance management system as adopted by Infosys.
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PMS OF INFOSYS
- Infosys is a global IT consulting firm founded in 1981 that has grown to revenues of $6.6 billion. It aims to be a globally respected corporation through client value, leadership by example, integrity, fairness, and excellence.
- Infosys uses a performance management system to communicate strategy, set employee expectations, measure and motivate performance, address underperformance, and facilitate development through training and performance reviews.
- Key result areas are mutually set through manager-employee discussions and reviewed through an online system. Performance is assessed bi-annually through this system and rated on a scale of 1+ to 4, with ratings impacting incentives, salary, and promotions. Feedback is also provided as an important part
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3. Interviews with HR executives and employees at HDFC Bank found that the performance management system helps align individual goals with organizational strategy and informs training to improve performance.
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- Infosys uses a performance management system to communicate strategy, set employee expectations, measure and motivate performance, address underperformance, and facilitate development through training and performance reviews.
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Infosys is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. It was founded in 1981 and is headquartered in Bengaluru, India. Infosys has become one of the most profitable software services providers in the world through a low cost global delivery model and focuses on quality processes and training. It provides a wide range of services across multiple industries and has numerous global clients. Infosys places strong emphasis on ethics, corporate governance, social responsibility and developing a positive work culture.
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- 1. PERFORMANC E MANAGEMEN T SYSTEM PRESENTED BY: JATIN BAKSHI 1711715
- 2. CONTENTS INTRODUCTION PERFORMANCE MANAGEMENT V/S PERFORMANCE ENHANCEMENT INFOSYS – THE PRACTICAL ASPECTS Q&A
- 3. INTRODUCTION INDUSTRIAL REVOLUTION OF 18TH CENTURY SYSTEM DESIGNED TO IDENTIFY THE WAYS TO ACHIEVE THE ORGANIZATIONAL GOALS THROUGH CONSTANT ASSESSMENT AND FEEDBACK. ALIGNING INDIVIDUAL GOALS WITH ORGANIZATIONAL GOALS
- 4. PERFORMANCE MANAGEMENT V/S PERFORMANCE ENHANCEMENT • Defining Performance • Measuring Performance • Feedback • Performance Development
- 5. INFOSYS INDIAN MNC (1981) SECOND LARGEST IT COMPANY IN INDIA BUSINESS CONSULTING, INFORMATION TECHNOLOGY, OUTSOURCING SERVICES EMPLOYS OVER 200,000 EMPLOYEES IN 45 COUNTRIES
- 6. CRR RATING SYSTEM • Performance is evaluated relative to the performance of people in the peer group • Task evaluation is distinct from annual evaluation • Range from 4 to 1+ • Performagic • Mandatory ILI (Infosys Leadership Lessons)
- 7. OVERALL PERFORMANCE IS BASED ON CONSISTENCY OF PERFORMANCE COMPLEXITY OF WORK ENVIRONMENT LIVING THE INFOSYS VALUES DEMONSTRATED CAPABILITY FOR TAKING UP HIGHER RESPONSIBILITIES COMPARE OVERALL PERFORMANCE TO THE PEER GROUP RESOLVE CONFLICT
- 8. CRR RATING 4 3 2 1 1+ IMPACTS -PERFORMANCE INCENTIVES -SALARY REVIEWS -PROMOTIONS
- 9. ICOUNT • Individual Evaluation • Disproportionate Rewards to Top Performers • Appraisal from the inception • Flexible • Application – icount • Range ‘outstanding, commendable, met expectation, below expectation’ • More Transparency
- 10. Q&A
- 11. THANK YOU