In Mahindra & Mahindra first of all Departmental goal are set. It uses ‘BALANCE SCORE CARD’ approach which was given by Robert S. Kalpan and David P. Norton in 1992. Through this approach performance are measured in 4 perspectives- * Customer perspective
* Internal process
* Learning and development and
* Financial perspective.
After setting departmental goal, individual goals are assigned which involves 5 steps- 1) A two day communication workshop is held in which KRA setting and how to conduct performance appraisal are discussed. 2) Individual goal linked to business are set after discussion between appraiser and appraise. 3) In month of October a midterm review is conducted in which performance in terms of goal set are measured and evaluated. Discussions of correction measures are also done. 4) After this performance appraisals are done in the month of April. Employees are reviewed on the basis of achievement of KRA’s, assessment of significant tasks other than KRAs. 5) Last step in which feedbacks are given by appraiser to its subordinates.
Performance measurement method in Infosys:
Infosys follows CRR (Consolidated relative ranking) method:
Under this method the individual performance is relatively to the performance of the people within his/her peer group. In which the rating ranking is done in scale from 1+ to 4. 1+ signifies star performer and 4 signifies underperformer.
Infosys also follows online measurement method known to as Perfomagic. Perfomagic is a tool which is twice a year for assessment. It consist 3 steps: Step 1: Self-assessment by appraise.
Step 2: Reviewed by team leader by one to one meeting with appraise. Step 3: Final review by project manager (Reviewer).
Overall performance is based on CRR.
* Task assigned as per performagic
* Consistency of performance
* Complexity of work experience
* Living the Infosys value