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PERFORMANCE APPRAISAL

PROCESS IN

STANDARD CHARTERED

4th

JULY 2011

SURUCHI SURESH JAIN

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Table of Contents

Sr.No. TOPIC Page No.

1 Synopsis of the Project 1

2 Learning from the Project 2

3 Introduction 3

4 Literature Survey 4

5 Aim, Methodology and Tools used 7

6 Description of Procedure 9

7 Display and Description 10

8 Discussion 16

9 Conclusion 19

10 Recommendations 20

11Suggested Ways of Improving the Project

21

12 Interview 22

13 Analysis of Articles 25

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14 Incidental Observations & Trivia 29

15 Bibliography 30

A performance appraisal,employee appraisal,performance review, or (career) development

discussion[1]

is a method by which thejob performance of an employee is evaluated (generally in terms

ofquality, quantity, cost, and time) typically by the corresponding manager or supervisor.[2]

A

performance appraisal is a part of guiding and managing career development. It is the process of

obtaining, analyzing, and recording information about the relative worth of an employee to the

organization. Performance appraisal is an analysis of an employee's recent successes and failures,

personal strengths and weaknesses, and suitability for promotion or further training. It is also the

judgement of an employee's performance in a job based on considerations other than productivity

alone.

Generally, the aims of a performance appraisal are to:

y Give employees feedback on performancey Identify employee training needsy Document criteria used to allocate organizational rewardsy Form a basis for personnel decisions: salary increases,promotions, disciplinary actions,

bonuses, etc.y Provide the opportunity for organizational diagnosis and developmenty Facilitate communication between employee and employery Validate selection techniques and human resource policies to meet federal Equal

Employment Opportunity requirements.

y To improve performance through counseling, coaching and development

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Methods

A common approach to assessing performance is to use a numerical orscalarrating system

whereby managers are asked to score an individual against a number ofobjectives/attributes.Insome companies, employees receive assessments from theirmanager, peers, subordinates, and

customers, while also performing a self assessment This is known as a 360-degree appraisalandforms good communication patterns.

The most popular methods used in the performance appraisal process include the following:

y Management by objectivesy 360-degree appraisaly Behavioral observation scaley Behaviorally anchored rating scales

Trait-based systems, which rely on factors such as integrity and conscientiousness, are also used

by businesses but have been replaced primarily by more objective and results-oriented methods.

The scientific literature on the subject provides evidence that assessing employees on factors

such as these should be avoided. The reasons for this are twofold:

1) Trait-based systems are by definition based onpersonality traits and as such may not be

related directly to successful job performance. In addition, personality dimensions tend to be

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static, and while an employee can change abehaviorthey cannot change theirpersonality. Forexample, a person who lacks integrity may stop lying to a manager because they have been

caught, but they still have low integrity and are likely to lie again when the threat of being caughtis gone.

2)T

rait-based systems, because they are vague, are more easily influenced by office politics,causing them to be less reliable as a source of information on an employee's true performance.

The vagueness of these instruments allows managers to assess the employee based upon

subjective feelings instead of objective observations about how the employee has performed hisor her specific duties. These systems are also more likely to leave a company open to

discrimination claims because a manager can makebiased decisions without having to back themup with specific behavioral information.

Job performance is a commonly used, yet poorly defined concept in industrial and organizational

psychology, the branch ofpsychology that deals with the workplace. It most commonly refers to

whether a person performs theirjob well. Despite the confusion over how it should be exactly defined,

performance is an extremely important criterion that relates to organizational outcomes and success.

Among the most commonly accepted theories of job performance comes from the work of John P.

Campbell and colleagues.[1][2]

Coming from a psychological perspective, Campbell describes job

performance as an individual level variable. That is, performance is something a single person does. This

differentiates it from more encompassing constructs such as organizational performance or national

performance which are higher level variables.