A STUDY OF THE EMPLOYEE PERFORMANCE APPRAISAL SYSTEM AT BANK OF INDIA
SUBMITTED BY Shesha Sahajpal MBA (Banking and Insurance)
UNIVERSITY INSTITUTE OF APPLIED MANAGEMENT SCIENCES, PANJAB UNIVERSITY
I, Shesha Sahajpal, hereby declare that the project report on ―A STUDY OF THE EMPLOYEE PERFORMANCE APPRAISAL SYSTEM AT BANK OF INDIA” was assigned to me for the requirement of partial fulfillment of Master Of Business Administration (Banking & Insurance). It is the original work conducted by me from 1st June, 2010 to 31st July, 2010 as a part of summer training at HR Department, Zonal Head Office, Sector17, Chandigarh. This project has not been submitted for the award of any other degree, diploma or other similar title and the data provided in the study is authentic to the best of my knowledge and belief.
Shesha Sahajpal MBA (Banking & Insurance) 2009-2011 UIAMS
I would like to express profound gratitude to Mr. J.N. Jha (Deputy Zonal Manager) and Mr. Ramesh Kumar (Chief Manager, HR), for their invaluable support, encouragement, supervision and useful suggestions throughout this training project. Their moral support and continuous guidance enabled me to complete my work successfully. I am also highly thankful to Mr. Pradeep Kumar for his valuable directions throughout this study. I would like to acknowledge the contribution of all the employees of the HR department as well as of those from the other departments whom I had the opportunity to communicate with for their support. I am as ever, indebted to my parents and my brother for their love and support throughout my life. My sincere thanks go to my friends, who encouraged and supported throughout this period.
The study was undertaken to understand the evaluation techniques being employed in a bank in order to judge the worth of its employees and to suggest further actions with regard to promotions, transfers, incentives, increments etc. For this purpose the following study was conducted at BANK OF INDIA where its performance appraisal policy was examined. Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalised along with 13 other banks. The Bank has 3101 branches in India spread over all states/ union territories including 141 specialised branches. These branches are controlled through 48 Zonal Offices . There are 29 branches/ offices (including three representative offices) abroad. Thus, it is obvious that the Bank employs a huge man-power in order to operate these branches. It becomes essential, therefore, to ensure a proper and efficient employee performance appraisal system is in place. The existing APR process includes the following: • Clarity of roles through definition of key result areas • Focus on employee development • Fairness and consistency in appraisal process • Increased transparency and simplicity • Establishing linkages to other HR aspects Process The new process has three stages: • Goal Setting • Mid year review • Final appraisal 5|Page
The table below illustrates the key dates in the performance appraisal timeline: End date 1st March 15th March 3 1‘ May Activity APR forms despatched by HO HRD to ZO HRD APR forms despatched by ZO HRD to branches Goal setting exercise completed Mid year review conducted for all officers 15th November Written confirmation of process completion sent to Zonal HRD / HO HRD as required Year end review conducted for all officers 30th April Forms sent to reviewing authority Completion of appraisals 15th May Reviewing Signed copies of APR forms sent to ZO HRD / HO HRD as required Authority Appraisers Appraisers Responsibility HO HRD ZO HRD Appraisers...