Performance Management System Mahindra N Mahindra Ltd
MAHINDRA & MAHINDRA LTD.<br />PERFORMANCE MANAGEMENT SYSTEM<br />Presented By:<br />Reena Alva<br /> Roll No: A – 4<br />
THEMAHINDRA GROUP<br /><ul><li>Mahindra is the market leader in multi-utility vehicles in India.
Only Indian company among the top three tractor manufacturers in the world.
The Group has a leading presence in key sectors of the Indian economy, including the Automotive, financial services, trade & Logistics, Automotive components, Information Technology and Infrastructure Development.</li></li></ul><li>Process of Goal Setting<br />
Balanced Score Card approach<br />By Robert S. Kalpan and David P. Norton’s, 1992<br />Measures performance on 4 perspectives<br />Departmental Goal Setting<br />
2 Day workshop in the month of May – June<br />‘KRA setting’ and ‘How to conduct performance appraisal’<br />Useful to both appraisers and appraisees<br />Step 1: Communication Workshop<br />
Individual goals linked to business<br />3 – 5 KRAs<br />Total Weightage: 100%<br />Set after discussion between appraiser and appraisee<br />Forms a basis for the calculation of performance payout<br />The KRA sheets are sent to Corporate HR Department. <br />Step 2: KRA setting<br />
Conducted in the month of October<br />Measure and evaluate performance in terms of the goals set<br />Discussion of correction measures <br /> Step 3: Mid – Term Review:<br />
Done in the month of April<br />Employees are reviewed on the basis of achievement of KRAs, assessment of significant tasks other than KRAs<br />Leadership competencies - M&M Ltd has adopted 7 leadership competencies<br />Employee’s feedback is recorded<br /> Step 4: Performance Appraisal<br />
Discussion is held between appraiser & reviewer to jointly arrive at overall rating of the employee<br />For the performance pay calculation, the overall performance is divided into two parts:<br />Business Performance<br />Individual Performance<br />
Appraiser gives feedback to the subordinate immediately after the final performance appraisal<br />Reviewing if all the employees have got the appraisal report<br />Step 5: Feedback and Counseling<br />
Why performance appraisal is needed<br /><ul><li>Helps in identifying Areas for Improvement.
Provides development opportunities for the growth of people.
Generate Data for actions relating to Increments, Promotions, etc.</li></li></ul><li>THANK YOU<br />