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Performance Management System Mahindra N Mahindra LTD

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ishrat

The document summarizes the performance management system (PMS) at Mahindra. The key components of PMS include performance planning, appraisal and review, feedback and counseling. At Mahindra, the PMS process begins with setting strategy, goals and objectives at different levels from organizational down to individual. Individual key result areas (KRAs) are set after discussion between the appraiser and appraisee. Performance is measured across four perspectives using a balanced scorecard approach. The PMS process involves goal setting, mid-term review, performance appraisal, and feedback. Appraisals consider achievement of KRAs and competencies to determine overall ratings and performance pay.

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Performance Management System Mahindra N Mahindra LTD

Uploaded by

ishrat
639 views16 pages
The document summarizes the performance management system (PMS) at Mahindra. The key components of PMS include performance planning, appraisal and review, feedback and counseling. At Mahindra, the PMS process begins with setting strategy, goals and objectives at different levels from organizational down to individual. Individual key result areas (KRAs) are set after discussion between the appraiser and appraisee. Performance is measured across four perspectives using a balanced scorecard approach. The PMS process involves goal setting, mid-term review, performance appraisal, and feedback. Appraisals consider achievement of KRAs and competencies to determine overall ratings and performance pay.

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Performance Management System Mahindra N Mahindra Ltd

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The document summarizes the performance management system (PMS) at Mahindra. The key components of PMS include performance planning, appraisal and review, feedback and counseling. At Mahindra, the PMS process begins with setting strategy, goals and objectives at different levels from organizational down to individual. Individual key result areas (KRAs) are set after discussion between the appraiser and appraisee. Performance is measured across four perspectives using a balanced scorecard approach. The PMS process involves goal setting, mid-term review, performance appraisal, and feedback. Appraisals consider achievement of KRAs and competencies to determine overall ratings and performance pay.

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© All Rights Reserved
Download as PPTX, PDF, TXT or read online from Scribd
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639 views16 pages

Performance Management System Mahindra N Mahindra LTD

Uploaded by

ishrat
The document summarizes the performance management system (PMS) at Mahindra. The key components of PMS include performance planning, appraisal and review, feedback and counseling. At Mahindra, the PMS process begins with setting strategy, goals and objectives at different levels from organizational down to individual. Individual key result areas (KRAs) are set after discussion between the appraiser and appraisee. Performance is measured across four perspectives using a balanced scorecard approach. The PMS process involves goal setting, mid-term review, performance appraisal, and feedback. Appraisals consider achievement of KRAs and competencies to determine overall ratings and performance pay.

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You are on page 1/ 16

Performance

Management System at

By
Zoya Bangliwala 51
Aaditi Deshpande 52

What is PMS ?
A process for establishing a mutual
understanding about what is to be
achieved and how it is to be achieved.
Its assists organizations to plan, analyze
and manage their performance, so that
decisions, resources and actions can be
better aligned with business strategies to
achieve required results.

Components of Performance
Management System
Performance Planning
Performance Appraisal and
Reviewing
Feedback on the Performance followed by
personal counseling and performance
facilitation:
Rewarding good performance
Performance Improvement Plans
Potential Appraisal

Process of PMS at
Mahindra
STRATEGY, VISION,
MISSION
BUSINESS GOALS
ORGANIZATIONAL
OBJECTIVES
DEPARTMENTAL
OBJECTIVES
ROLE / INDIVIDUAL
OBJECTIVES
KEY RESULT AREA (KRA)

Departmental Goal Setting

Balanced Score Card approach


By Robert S. Kalpan and David P.
Nortons, 1992
Measures performance on 4 perspectives

Performance is measured in 4 perspective

CUSTOM
ER

FINANCI
AL

BS
C
L&D

INTERNA
L
PROCES
S

How do customer see us?

Feedback

What we must Excel at?

Internal Process

Can we continue to
improve and create
value?

Learning and
Development

How well do we look at


our stakeholders?

Financial

Individual goal setting


Communicati
on Workshop

Performance
Appraisal

Feedback
and
Counseling

KRA Setting

Mid Term
Review

Step 1 : Communication
Workshop
2 day workshop in the month of May.June
KRA Setting and how to conduct
performance appraisal
Useful to both Appraiser and Appraisees

Step -2 KRA Setting


Individual Goal Linked to Business.i.e. 3-5
KRAs
Set after discussion between appraiser
and appraisee
Forms a basis for the calculation of
performance payout
The KRA sheets are sent to Corporate HR
Department

Step-3 Mid Term Review


Conducted in the month of October
Measure and evaluate performance in
terms of the goals set
Discussion of correction measures

Step-4 Performance Appraisal


Done in the month of April
Employees are reviewed on the basis of
achievement of KRAs, assessment of
significant tasks other than KRAs
Leadership competencies - M&M Ltd has
adopted 7 leadership competencies
Employees feedback is recorded

Discussion is held between appraiser &


reviewer to jointly arrive at overall rating
of the employee
For the performance pay calculation, the
overall performance is divided into two
parts:
-Business Performance
-Individual Performance

Step-5 Feedback and


Counseling
Appraiser gives feedback to the
subordinate immediately after the final
performance appraisal
Reviewing if all the employees have got
the appraisal report

Conclusion

Thank you.

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