This project would not have been possible without the help of many people who have contributed their efforts in this project. Firstly, I would like to convey my profound indebtness to my project guide at NTPC ltd., MR. TANMOY DUTTA, HR dept., for his invaluable advice, guidance and time that he has offered in the completion of this project. This project would not have been possible without his guidance and support. I would also like to thank Mr.BADRUDDIN ANSARI, NTPC ltd. who also helped me in the fulfillment of this project. Not to forget, the employees of NTPC, the project would not have been completed if they not helped me with filling up the questionnaires. Finally, I would like to thank our Mentor “Miss tejbir kaur” for her valuable guidance and suggestions in the making and improvement of this project report
PACE is the performance management system for the executive employees at NTPC. This system was implemented in the year 2004 in NTPC. Earlier the performance appraisal system was more of a subjective type of system i.e., earlier there weren’t any set targets or key performance areas for the employees, it was just the performance they made and the feedback on it was given to the employees on a yearly basis. Now the PACE has become more objective and behavior based, i.e., there are set KPA’s for the employees and scores for the core values exhibited in the work behavior. The key performance areas include; Technical knowledge, Business attitude, Strategic thinking, Resource management, Communication skills, System thinking, Interpersonal competencies, Employment skills There is a basic question that would come to anyone’s mind that why is PACE only for the executive employees and why not for the non-executive employees as well. It is so because the employees at the non-executive levels may not be able to understand the whole PMS system as some of them at different levels may not be that educated to understand the system; i.e., they might not be well-versed with the system, and therefore will not be able to work according to the system and therefore they have a different appraisal system. NTPC has been striving to meet the objective of developing performance culture through this system called “Performance And Competence for Excellence” i.e. “PACE”. This report concentrates on the study of the “Performance and Competence for Excellence” system at NTPC and to check its effectiveness and further to suggest and recommend any possible ways to improve and strengthen its PMS. To check the effectiveness of this system a survey with a help of questionnaires had been conducted. Around 60 executive employees had filled up the questionnaire with the help of which analysis had been done.
OBJECTIVES OF THE STUDY
The objective of the study is basically to know about the effectiveness of performance management system – PACE at NTPC. This objective has been further divided into the following key areas; * To carry out an assessment on the performance appraisal of the company and what kind of performance management system has been implemented in the company.
* To examine the gap between the required performance and the actual performance.
* To determine the key places in the performance management system of the company which are supposed to be enhanced.
* To forecast the performance management system at NTPC.
* To find out the effectiveness of performance management system on NTPC.
* To find out key points in satisfaction and improve the ways of satisfying the employees.
* To provide an overall sketch of how effective the performance management system has been.
SCOPE OF THE STUDY
The present study is confined to...