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Performance management and appraisal of Coca-cola

Performance Measurement and appraisal of Cola-cola company

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Performance management and appraisal of Coca-cola

  1. 1. WELCOME TO OUR PRESENTATION<br />Topic: Performance measurement and appraisal of Coca-Cola Company<br />
  2. 2. 2<br />Group Members<br />
  3. 3. 3<br />
  4. 4. 4<br />Performance Measurement<br />Performance measurement is the process whereby an organization establishes the parameters within which programs, investments, and acquisitions are reaching the desired results.<br />
  5. 5. 5<br />Appraisal<br />Performance appraisal is a method of evaluating the behavior of employees in the work spot, normally including both the qualitative & quantitative aspect of job performance.<br />
  6. 6. 6<br />
  7. 7. 7<br />History<br /> The Coca-Cola Company is the world's largest beverage company.<br />It is no.1 brand according to fortune 2009 survey.<br /> The company operates a franchised distribution system dating from 1889.<br />The Coca-Cola Company is headquartered in Atlanta, Georgia.<br />Its stock is listed on the NYSE (New York Stock Exchange).<br />Its current chairman and CEO is Muhtar Kent.<br />Key Result Area - KRA is the basis of performance management at Coca-Cola Company.<br />
  8. 8. 8<br />Organization Structure of Coca-Cola<br />
  9. 9. 9<br />Performance Measurement Stages of Coca-Cola<br /><ul><li>Assess results
  10. 10. Prepare current year development plan
  11. 11. Set KRAs
  12. 12. Finalize current year Development plan
  13. 13. Review results
  14. 14. Competency development plan
  15. 15. Performance‐linked pay
  16. 16. Recognize Top Performers</li></li></ul><li>10<br />
  17. 17. 11<br />Dimensions of Performance<br />
  18. 18. 12<br /><ul><li>To assess progress on ‘What’ - Business Results
  19. 19. To assess progress on ‘How ’ - Self/ People Development and Competencies
  20. 20. To clarify the actions to be taken next year to maximize performance. </li></ul>Performance Delivery and Results Review<br /><ul><li>To review progress on Performance Development Plan for KRA1, KRA 2 and Competencies
  21. 21. To credit and compliment good progress
  22. 22. To coach Associates so that he / she can maximize performance following Year </li></ul>Performance Review Objectivesowner: administrative manager<br />Performance Development Coaching <br />
  23. 23. 13<br />Performance Review Objectives (Cont’d)owner: administrative manager<br />Recognize Top Performers <br /><ul><li>To recognize and provide positive feedback to Top Performers to ensure they are motivated and also challenged / stretched to enhance their growth
  24. 24. To review status of Bottom Performers already under PIP and take appropriate actions.
  25. 25. To prepare Performance Improvement Plan for newly-identified Bottom Performers.</li></ul>Performance Improvement Planning <br />
  26. 26. 14<br />Steps in the performance review process<br />
  27. 27. 15<br />
  28. 28. 16<br />Performance Appraisal of Coca-Cola<br />Coca cola performance appraisal is annually. They appraise the employee due to their performance about goals of the organization. They set the goals at the start of the year and tell the employees about the goal if the employees achieve this goal they appraise the employees.<br />
  30. 30. 18<br />Define the job:<br />Means making sure that you and your sub ordinate agree on his or her duties and job standard.<br />Appraise the performance:<br />Means comparing your subordinate's actual performance to the standards that have been set.<br />Provide the feedback:<br />Means discuss the subordinate performance and progress, and make plans for any development required.<br />
  31. 31. 19<br />Performance Management System and Appraisal<br />What is the big picture?<br />Processes that are going to enable them<br />How are they going to execute?<br />Talent Strategy<br />Talent Assessment & Segmentation<br />Differentiated Reward & Development Interventions<br />Closely Aligned to Business Strategy<br />Measurement Driven<br />
  32. 32. 20<br /><ul><li>Differentiated ‘Rewards’ motivates and drives high performers to achieve better results.
  33. 33. Further, since 73% associates are in SP category, the differentiation is critical to build and support high performance culture.
  34. 34. For the purpose of Rewards :
  35. 35. SP sub‐ categorized as SP‐, SP and SP+;
  36. 36. EP sub‐categorized as EP and EP*.</li></li></ul><li>21<br />
  37. 37. 22<br />Recognizing & Managing Top Performers<br />
  38. 38. 23<br />Accelerating Performance of Solid Performers<br />
  39. 39. 24<br />Managing Bottom Performers<br />
  40. 40. 25<br />
  41. 41. 26<br />Main parameters used as a base of reward system<br /><ul><li>Inflation rate factor
  42. 42. Market potential (what of individuals worth according to his/her expertise, job experience etc.)
  43. 43. Matching with his/her presence career path
  44. 44. Personal development of an individual
  45. 45. Sales rewards</li></li></ul><li>27<br />Supporting practices<br /><ul><li>Safety
  46. 46. Re-creational activities
  47. 47. Training and development
  48. 48. Individual goal setting</li></ul>Above parameters are used by Coca Cola to make their reward system practices well in the market, object is to make their employees feel comfort, satisfied, motivated towards achievement of organizational tasks, competent to perform to the extent to attain organizational mission and vision terminologies and compete with outside rivals successfully. Because the management believes that if employees are loyal to the organization then they perform better to the way to overcome any competitive goal with accordance to desired results with remarkable customer satisfaction. <br />
  49. 49. 28<br />Criteria of rewarding employees<br />They are using different techniques to define their reward criteria to work according to define standards of organization. System is developed by doing great market search so as to compete rivals to the way to satisfy their internal employees more than that to get more profitability and customer loyalty. <br /><ul><li>Grade jump
  50. 50. Designation change
  51. 51. Special assignments (inter departmental transfer)
  52. 52. Financial aspects
  53. 53. Grade jump and designation change
  54. 54. Training and development
  55. 55. Personal development of an individual
  56. 56. Career grooming</li></ul>They make close collaborative or communication system with employees so as to fetch information on the part of their problems to satisfy them all to increases their efficiency and effectiveness. Because need and wants of employees are changing day by day to satisfy meaningful needs and wants are very important in the behalf of organization so as to use best potential of both physical and mental competencies is very important. That’s why defining criteria of rewarding them have a significant importance for the mutual benefits of both employees and organization.<br />
  57. 57. 29<br />Types of Rewards of Coca Cola<br />Yearly Basis<br /><ul><li>Employee salary increment
  58. 58. Grade Jump
  59. 59. Designation change
  60. 60. Annual incentive Plan (AIP) (for business performance, but fixed)
  61. 61. Personal Progress report (PPR) (Annual Appraisal) </li></ul>Monthly Basis<br /><ul><li> Making the move (MTM, sales target achieve)
  62. 62. Monthly turn hall (extraordinary performance)</li></ul>Quarterly Basis<br /><ul><li>Employee of the Quarter (EOQ, non sales)
  63. 63. Sales Dangle context</li></li></ul><li>30<br />Recommendation<br />Implications from Performance Measurement System:<br />Coca Cola believes and follows the GROW and the WHALE DONE approach. The grow model helps the employee to understand where he wants to be and also what all he/she has to accomplish/develop to reach from the current level. The PMS is a continuous process as the review is not done annually or quarterly, but it’s a continuous process of performance measurement, management and improvement with daily and monthly reviews by the manager.<br />
  64. 64. 31<br />Recommendation<br />Appraisal system is an effective technique to support and change culture of the organization optimistically; it would only be possible if the system is equal for all employees of organization. Therefore, company’s management should utilize this system to all employees so as to increase effectiveness and productivity. <br />
  65. 65. 32<br />THANK YOU<br />