Performance Appraisal & Reward System
(PARS)
Performance Appraisal
Performance Appraisal
IPM’s/Goals.
- Review of an employee’s contributions to the company against set
It serve many purposes within an organization. Performance Appraisal offers an insight into an
individual’s performance, and provides a standardized way to make comparisons among employee’s
productivity.
Objective:
• To review the performance of the employees over a given period of time against predefined goals
• To analyze the gap between the actual and the desired performance
• To provide feedback to the employees regarding their performance
Result:
• Assist in career development / potential appraisal
• Provide clear understanding to every individual/ department of their roles
• Generate performance data that will help in amend compensation & career progression
Coverage – April 2015 cycle:
• All C-Code employees joined by 30th September 2014 & duly confirmed are eligible for PARS Cycle
April 2015.
Performance Appraisal - Advantage
•
Performance Appraisal is a valuable tools for communication with employees as pertaining
to how their job performance stands with organizational expectations.
•
Performance Appraisal helps the supervisors to suggest the growth path for performing
employees, also indicating employees with leadership potential or leadership development
needs.
•
Ratings provided post Performance Appraisal helps in providing
increment in
compensation packages for employees which also includes bonus, additional allowances
and pre-requisites .
•
Employee’s training and development are crucial components in helping an organization
achieve strategic initiatives, post-appraisal opportunities for training and development in
difficult areas can be determined.
•
Feedback & Employee communication can serve as a guide in enhancing job performance
in future.
Individual Performance Measures (IPMs)
Individual Performance Measures (IPMs) are the goals or objectives that the employee needs to
achieve for a particular year.
IPM’s are set the beginning of the financial year in Goal Setting Activity. Goal setting is the process
of deciding what an employee has to accomplish at the end of the year it also helps in devising a
plan to achieve the result desired by the organisation.
At IIFL , any job can be segregated in any predefined 4 different parameters naming Customer,
Process, Finance & Employee to aim at overall growth of an employee along with organisational
development. On these parameters the performance of an employee is measured. (Minimum 4 &
Max 8 IPMs can be mentioned)
The Goals should be SMART. Setting of realistic goals through SMART techniques should be
followed.
SMART specifies Specific, Measurable, Attainable, Relevant & Time-bound. At IIFL we emphasize in
setting SMART Goals which results in motivating employees & building their self confidence.
The weightage against each IPM is entered by the Employee in the system. It is the reflection of
amount or importance of a particular IPM on the person’s performance. The sum of weightage of
all IPMs in all parameters put together must be 100%
Reward System - Rating
Rating Scale: Ratings are the scores given to employee against each IPM on the basis of performance of the
employee relative to other employees performing similar jobs at IIFL by IRA / Reviewer / HOD. Performance
Ratings determines an employees overall performance during the time period.
The Various Ratings at IIFL are :
•
Flyer (4): It indicates that exceptional performance is demonstrated , high accomplishments of task are
made in areas besides current job role without much supervision. Is recognized as an expert in his or her
job area.
•
Runner (3): Employee performs assigned responsibilities in a manner that consistently exceeds
expectation, as demonstrated throughout the review period. Takes initiative to seek information or
clarification of policies, procedures or objectives. Takes on additional tasks assigned without defaulting in
other assigned activity areas
•
Walker (2): Employee performs assigned responsibilities throughout the review period. Has ethical work
habits, follows established work schedule, completes projects and tasks and produces acceptable output
of work
•
Learner (1): Employee performs assigned responsibilities in an unsatisfactory manner, has not responded
to constructive feedback, or has not improved performance.
"Performance" includes not only how well the employee carries out the specific tasks or responsibilities of the
job, but also includes work habits or behaviors that impact customers, co-workers or the general work
environment
Giving Feedback In An Appraisal
One of the most challenging part of the performance appraisal meeting is giving feedback to employees on
their performance. Feedback will provide motivation to employee and leading in improved performance.
Feedback can reinforce existing strengths, keep goal-directed behaviour on course, clarify the effects of
behaviour, and increase the recipient’s ability to detect and remedy errors independently. Both appraisers and
appraisees can use the tips below to learn to receive and give feedback more effectively
Feedback is effective when the IRA ensures that it:
Receiving Feedback Effectively by employee:
• is descriptive rather than evaluative;
• is focused on the employee’s behaviour rather than
the employee as a person;
• is specific and based on information rather than
general and based on impressions;
• provides information from their own experience;
• reinforces positive new behaviour and what the
subordinate has done well;
• suggests rather than prescribes avenues for
improvement;
• is continual rather than sporadic;
• is intended to help;
• is checked with other sources for verification;
• is well timed; and,
• contributes to the rapport between the IRA and the
employee and enhances their relationship.
• Listen effectively to the feedback given.
• Be aware of your non-verbal responses.
• Be open & receptive to new ideas and different
opinions.
• Understand the feedback before responding to
the it.
• Ask questions for clarification.
• Follow up on Feedback given, post
implementing it
IPM-PARS Process Flow
PHASE - I
APPRAISEE
IPM SETTING
STAGE
• Selects Parameter
• Enters IPM, Measurement
Criteria,
• Adds weightage
• Submits to IRA
PHASE - II
APPRAISEE
• Enters Extent of achievement
PARS
against each IPM
• Selects Training requirements
• States Strengths & Development
Areas
• Submits Self Appraisal
HOD
• May modify Overall Ratings
• Add Comments (optional)
• Approves
Review process complete
APPRAISER
• Approves or Rejects IPM
• IRA mention its comment
• Post Approval IPM Setting stage
completes
APPRAISER
• Enters Comments, Ratings against
each IPM
• Rates Competency Assessment
• Select Training needs
• Adds overall Comment
• Submits the form by approving it
REVIEWER (IRA’s IRA)
• Edit Ratings against each IPM
(optional)
• Adds overall Comment
• Approves
Step 1:
IPM Setting Stage– Employee
IPM Setting – Employee
Click on My IPM
Click on
Performance Alignment
Section A displays the details
of the employee
Click Here for IPM Setting
Click here to minimize and
expand Section B
Mouse over help icon for the
Help Information
IPM Setting – Employee
Select Appraisal Calendar 2015-16
Employee selects the
Parameter from Dropdown
Employee enters Individual
Performance Measures (IPMs)
Employee enters
Measurement Criteria
Employee enters
Weight age
Employee Clicks on ‘Save’
Note : Minimum 4 & max 8 IPMs
IPM Setting – Employee
Select Goals to Submit for
approval from Saved goals
Click on ‘Submit’
Note: Total weight age of goals to be
submitted should be 100%
IPM Setting – Employee
Notification message
post Submission
Select Goals to submit for approval
from Saved goal
Step 2:
IPM Setting Stage - IRA
IPM Setting – IRA
IPM Setting
IRA clicks here to
approve Pending IPMs
IPM Setting – IRA
IRA clicks on Employee
to approve his IPM
IRA approves/ Rejects IPM and
enters comments against each IPM
IRA Clicks on Approve
IPM Setting – IRA
Notification message
post submission
Notification Message to display
IPM setting stage is completed
Step 1:
PARS Stage - Employee
PARS Stage – Employee
Click on
Performance Alignment
Section
A displays the details
Click here
for PARS
of the employee
PARS Stage
EMPLOYEE LOGIN
Click here to minimize and
expand Section B
Click for entering Self Appraisal
PARS Stage – Employee
Employee enters ‘Extent of
Achievement’ against each IPM
Click here to view IPM content
and Measurement Criteria
Click on ‘Save’ to save
PARS Stage – Employee
Click on ‘Training’ section
Click ‘Add’ to select training from
available courses
If required training is not available in list
it can be added in the text box
PARS Stage – Employee
Activity
Select Location, Type and
Category, click Go
Select from required
course title
Click on Choose
PARS Stage – Employee
Click on ‘Save’ to save
PARS Stage – Employee
Click on Strengths
and Development
Employee enters
Strengths
Employee enters
Development Area
Employee Saves & Submits
PARS Stage – Employee
Notification Message to display Self
Appraisal is submitted successfully
Step 2:
PARS Stage - IRA
PARS Stage – IRA
PARS
IRA clicks to view and continue
the appraisal process
PARS Stage – IRA
IRA clicks on Employee name to
proceed with the appraisal process
PARS Stage – IRA
Click on Goals
IRA can view employees
‘Extent of Achievement’
IRA enters comments for
the employee against each IPM
Click here to view IPM content
& Measurement Criteria
IRA selects the Rating
against each IPM
Click here to Save
IRA can view
Calculated Rating
PARS Stage – IRA
Click on
Competencies
IRA selects Rating against
each Competency
Click here to Save
PARS Stage – IRA
Click on ‘Training’ section
Click ‘Add’ to select training from
available courses
If required training is not available in list
it can be added in the text box
PARS Stage – IRA
Activity
Select Location, Type and
Category, click Go
Select from required
course title
Click on Choose
PARS Stage – IRA
Click on ‘Save’ to save
PARS Stage – IRA
IRA can view the Strengths &
Development Areas entered by
employee
PARS Stage – IRA
IRA clicks on
Overall Comments
Click here to Save
IRA clicks here
to Approve
PARS Stage – IRA
Notification Message to display
Appraisal is submitted successfully
Step 3:
PARS Stage - Reviewer
PARS Stage – Reviewer
PARS
Reviewer clicks here to view and
continue the appraisal process
PARS Stage – Reviewer
Reviewer clicks on Employee name to
proceed with the appraisal process
for the particular employee
PARS Stage – Reviewer
Reviewer can view comments
given by IRA & may add comments
against each IPM for the employee
Reviewer can view Ratings given
by IRA & may modify if required
Click on Save
PARS Stage – Reviewer
Reviewer can view Goals, Competencies,
Training, Strengths & Development
Reviewer enters
Over all Comments (Mandatory)
Click on Save & Approve
Click on Overall
Comments
Step 4:
PARS Stage - HOD
PARS Stage – HOD
PARS
HOD clicks to view and continue
the appraisal process
PARS Stage – HOD
HOD clicks on Employee name to
proceed with the appraisal process
PARS Stage – HOD
HOD can view Goals, Competencies,
Training, Strengths & Development
HOD can view comments
given by IRA & Reviewer
HOD enters Over all
Comments (Optional)
HOD selects the
Final Rating from
the drop down
Click on Save & Approve
Click on Overall
Comments
PARS Stage – HOD
Notification Message to display HOD comment /
Appraiser’s Feedback edited successfully
Thank You !
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