Analysis of Performance Management System in L&T
CHAPTER – 1 ____________________________________________________________
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Theoretical framework
1.1 Introduction
In the current scenario organizations all over the world are under tremendous pressure for the improving their performance for survival and growth due to increasing competition.
One such source of improving is “technology” and the other is “human system” existing in the organization. Today the world is shrinking and hence, more and more organization has an easy access to sophisticated technology due to relatively easy availability and transfer availability of technology. Thus the source of improvement i.e. the ‘human system’ that will differentiate a successful organization from unsuccessful one.
Human resource management (HRM) is concerned with the personnel policies and managerial practices and systems that influence the workforce. In broader terms, all decisions that affect the workforce of the organization concern the HRM function. The activities involved in HRM function are pervasive throughout the organization. Line managers, typically spend more than 50 percent of their time for human resource activities such hiring, evaluating, disciplining, and scheduling employees. Human resource management specialists in the HRM department help organizations with all activities related to staffing and maintaining an effective workforce. Major HRM responsibilities include work design and job analysis, training and development, recruiting, compensation, team-building, performance management and appraisal, worker health and safety issues, as well as identifying or developing valid methods for selecting staff. HRM department provides the tools, data and processes that are used by line managers in their human resource management component of their job.
Traditionally most of the organizations are turned to computerized performance appraisal system and acquired good results. Staff appraisal gained increased importance as a contributor to success of
___________
Theoretical framework
1.1 Introduction
In the current scenario organizations all over the world are under tremendous pressure for the improving their performance for survival and growth due to increasing competition.
One such source of improving is “technology” and the other is “human system” existing in the organization. Today the world is shrinking and hence, more and more organization has an easy access to sophisticated technology due to relatively easy availability and transfer availability of technology. Thus the source of improvement i.e. the ‘human system’ that will differentiate a successful organization from unsuccessful one.
Human resource management (HRM) is concerned with the personnel policies and managerial practices and systems that influence the workforce. In broader terms, all decisions that affect the workforce of the organization concern the HRM function. The activities involved in HRM function are pervasive throughout the organization. Line managers, typically spend more than 50 percent of their time for human resource activities such hiring, evaluating, disciplining, and scheduling employees. Human resource management specialists in the HRM department help organizations with all activities related to staffing and maintaining an effective workforce. Major HRM responsibilities include work design and job analysis, training and development, recruiting, compensation, team-building, performance management and appraisal, worker health and safety issues, as well as identifying or developing valid methods for selecting staff. HRM department provides the tools, data and processes that are used by line managers in their human resource management component of their job.
Traditionally most of the organizations are turned to computerized performance appraisal system and acquired good results. Staff appraisal gained increased importance as a contributor to success of
References: 7) C.B. Gupta, Human Resources Management, Sultan and Chand Publications, New Delhi, Sixth edition, 2003. 8) C.R.Kothari, Research Methodology, Methods and Techniques, New Delhi, Vishwas Prakash, 2nd edition, 2006. 10) “Utilizing feedback to increase Performance Appraisal” Wayne F.Nemeroff(State university of NewYork), vol 22, 1979.