Performance Management and Appraisal in Mahindra & Mahindra Finance Submitted by- Choudhuri Milan Mohapatra, roll no-04 Kimi Rout, roll no-05 Loveleena Lenka, roll no-06
Company Profile Performance management in Mahindra & Mahindra Performance appraisal in Mahindra & Mahindra Findings
Mahindra & Mahindra Financial Services Limited (M&M FSL), a subsidiary of Mahindra & Mahindra Limited was incorporated on 1st January 1991 as Maxi Motors Financial Services Limited. One of India's leading non-banking finance companies, focused on the rural and semi-urban sector, The company's product portfolio includes right from finance for two wheelers, tractors, farm equipment, cars and utility vehicles to commercial vehicles and construction equipment also have a group of experts providing investment advice, surveying available market products and choosing the most suitable to customers' needs. M&M FSL had received certificate of commencement of business on 19th February of the year 1991. The company's name was changed from Maxi Motors Financial Services Limited to Mahindra & Mahindra Financial Services Limited on November 3, 1992. During the year 1993, the company had commenced financing of M&M Utility Vehicles as part of its work. M&M FSL had opened its first branch outside Mumbai, at Jaipur in the year 1995.
Regional office – Mahindra and Mahindra finance services limited , Mahindra tower , rasulgarh, Bhubaneswar, was established in 1998. Controls the entire activity of the organisation through its 14 branches and 200 manpower In India 565 branches and more than 10,000 manpower Company is having asset base of 18,000crores and having headquarter at Mumbai, Mahindra tower, 4th floor.
To be leading financial services provider in semi-urban and urban area. MISSION We do not have a group wide statement . Our core purpose is to make all of us want to get up and come to work in the morning GOAL Our goal is to be the preferred provider of retail financing services in the rural and semi-urban areas of India, while our strategy is to provide a range of financial products and services to our customers through our nationwide distribution network.
Organization hierarchy structure
An iterative process of goal-setting, communication,
observation and evaluation to support, retain and develop exceptional employees for organizational success.
Performance Management Diagram
Requirement of Managing Performance and appraising it
To reach organizational mission and goals
Encourage and reward behaviors aligned with organizational mission and goals. Curb or redirect non-productive activities.
Performance Management System in M&M Finance Ltd. Bhubaneswar
STRATEGY, VISION, MISSION & BUDGET
DEPARTMENTAL / FUNCTIONAL OBJECTIVES
PERFORMANCE MANAGEMENT SYSTEM IN M&M FINANCE LTD. BHUBANESWAR
ROLE / INDIVIDUAL OBJECTIVES KEY RESULT AREA (KRAs)
Setting goals for the appraisal system Developing criteria for successful performance Creating metrics for evaluating performance Selecting reviewees and reviewers Considering the timing of feedback Organizing logistics for the report and meeting
Giving candid and constructive feedback Following up to ensure that the system works
Objectives of Performance Appraisal
Provide a basis for promotion/ transfer/ termination. Enhance employees’ effectiveness by helping to identify their strengths and weaknesses & Inform them about expected levels of performance. Develop inter-personal relationships. Improve...
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