The strong breeze of post-1990 liberalization,
gradual decon trol of the government, opening up various
sectors to the multiplayer regime and enormous technological
intervention have shifted the market dynamics across the
industries. Customer expectation has risen to an all-time
high by having various alternatives to choose from. The
price hike remains only the last resort for the organization
as the same may prove to be fatal for an organization through
an exodus of its customer to the competitor. Corporates
are facing challenges on a daily basis to retain their
part of the pie in market share. The maintenance of livelihood
of the majority of firms is at stake. Individuals have
their own growth expectations too. At this crossroad, the
biggest issue is how can one expect to grow without the
growth of the organization that one is associated with.
Continual performance is the only success formula for sustenance.
The building block of any firm is its people; thus, the
firm is only supposed to deliver when its people deliver.
The organization excels when its people excel. Thus, the
competitive fight has created a bottom-line driven end-orientation
in corporates as compared to the traditional process-oriented
corporate culture.
As half of the new business year is already
complete and all are eyeing the results of Q2, silently,
but surely, another issue is popping up for the insiders
of the organization—the mid-year appraisal blues.
Over the years, to judge performance other than the direct
report, two or three-tier rating system with subjectivity
as a criterion and at best with the self-appraisal report
system, was prevailing even with the best of organizations.
However, recently, due to rapid technological changes,
rising expectation of the much informed customer and ingestion
of mantras of self-sustenance, the key driver of an organization
became customer-centric. The growing economy created talent
dearth in the job market. The management style has, thus,
shifted considerably. A system of assessment that only
looks after the subjectivity of a job and not focus on
individual output is not helpful as a management tool for
retaining talent; the key ingredient for organization success.
Often, the Performance Appraisal System (PAS) is interchangeably
used with Performance Management System (PMS). But, in
its true sense, the first is only a part of the second.
PMS begins with the job description of a position that
an employee is going to serve and only ends when he quits
the organization. It is a process of developing a work
system in which people perform to the best of their abilities.
PMS is a module which tracks the performance of an employee
and ensures that the employee fits the job. The PMS process
aims to measure the performance of the employee through
given targets and, thereby, suitably rewards the employee
for the achievements, which works as a strong motivator. |
