Synopsis on Performance Appraisal System

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Name of student: Poojitha Sukhavasi Roll number: A30606410050 Degree for which submitted: BBA Thesis title: Performance Appraisal

◊ Introduction to the study – Human Resource (or personnel) management, in the sense of getting things done through people, is an essential part of every manager’s responsibility, but many organizations find it advantageous to establish a specialist division to provide an expert service dedicated to ensuring that the human resource function is performed efficiently. “People are our most valuable asset” is a cliché, which no member of any senior management team would disagree with. Yet, the reality for many organizations are that their people remain under valued, under trained and under utilized. Performance Appraisal is the process of assessing the performance and progress of an employee or a group of employees on a given job and his / their potential for future development. It consists of all formal procedures used in the working organizations to evaluate personalities, contributions and potentials of employees. It helps in understanding the employees work culture, involvement, and satisfaction. It helps the organization in deciding employees promotion, transfer, incentives, pay increase. Performance appraisal must be seen as an intrinsic part of a manager’s responsibility and notan unwelcome and time-consuming addition to them. It is about improving performance andultimate effectiveness.

◊ Objective of study – The main objectives of the study are

● To examine why an appraisal system is important.

● To study existing appraisal system in S and P Capital IQ

●To determine the satisfaction level of the appraisee

●To find the consequences of an inappropriately conducted appraisal system

●To find the expectation of appraiser and appraisee

●To reveal the various loopholes in the appraisal...