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performance appraisal

Topics: Performance appraisal, 360-degree feedback, Insurance Pages: 60 (11087 words) Published: September 23, 2013
PERFORMANCE APPRAISAL

IDBI FEDERAL LIFE INSURANCE CO. LTD.
CHENNAI

PERFORMANCE APPRAISAL
SYSTEM AT IDBI FEDERAL
LIFE INSURANCE CO. LTD.
SRUTI JAYARAMDAS
10BSPHH010800

11

PERFORMANCE APPRAISAL

A REPORT
ON

“PERFORMANCE APPRAISAL SYSTEM AT IDBI
FEDERAL LIFE INSURANCE CO. LTD.”

By
SRUTI JAYARAMDAS
10BSPHH010800
A REPORT SUBMITTED IN PARTIAL FULFILLMENT OF
THE REQUIREMENTS OF
MBA PROGRAM OF
IBS HYDERABAD

DISTRIBUTION LIST:
MR. G. SURESH
(Faculty Guide)
MRS. SHANTHI YAGYANATH
(Company Guide)

Date of submission:
13 th MAY 2011

PERFORMANCE APPRAISAL

AUTHORIZATION

This report has been authorized by Professor G. Suresh, Associate Dean (Executive Training), IBS Hyderabad. This report is prepared for the organization IDBI FEDERAL LIFE INSURANCE COMPANY LIMITED, Chennai and has been authorized by Mrs. Shanthi Yagyanath, Manager Distribution- Chief, IDBI FEDERAL LIFE INSURANCE COMPANY LIMITED, Coimbatore, for submission to IBS, Hyderabad in partial fulfillment of the MBA Program of Sruti Jayaramdas.

PERFORMANCE APPRAISAL

ACKNOWLEDGEMENTS
With immense gratitude and humility, I present my Summer Internship Project report on PERFORMANCE APPRAISAL: A SUDY ON THE PERFORMANCE
APPRAISAL SYSTEM AT IDBI FEDERAL LIFE INSURANCE COMPANY
LIMITED.
I had a wonderful experience of Summer Internship, working with IDBI Federal Life Insurance Co. Ltd, and I would like to extend my sincere gratitude for providing me with this opportunity to work in the organization. I would also like to extend my appreciation to Mrs. Shanthi Yagyanath, Manager Distribution- Chief (IDBI Federal Life Insurance Co. Ltd) for guiding me, and providing valuable inputs that aided in the completion of my project.

I would also like to express my gratitude towards Mr. Peter, Manager, Chennai (Anna salai branch), LIC of India, Mrs. Latha J., Junior HR, Chennai (K.K. Nagar branch), United India Insurance Co. Ltd, and Mr. Prem Damodaran, Sales executive, Chennai (Aminjikarai branch), Bharti Axa Life Insurance for providing me valuable information and necessary inputs required for my project.

I would also like to thank Professor. G. Suresh, Associate Dean (Executive Training), IBS Hyderabad, for the guidance and support provided, that helped me in the completion of the project.
Finally, I would like to thank IBS Hyderabad and IDBI Federal Life Insurance Co. Ltd, for providing me an opportunity to gain experience in working and exposing me to the corporate world.

PERFORMANCE APPRAISAL

TABLE OF CONTENTS

1. EXECUTIVE SUMMARY …………………………………………… 2. INTRODUCTION……………………………………………………… 2.1 INSURANCE INDUSTRY
2.1.1 INSURANCE MARKET- AT PRESENT
2.1.2 COMPETITORS AND CUSTOMER SERVICES
2.1.3 MARKET SHARE
2.1.4 GLOBAL STANDARDS
2.2 COMPANY PROFILE
2.3 ORGANIZATIONAL CHART
2.4 PRODUCT PROFILE
2.5 PERFORMANCE APPRAISAL
3. LITERATURE REVIEW…………………………………………………… 3.1 DATA SOURCE
3.1.1 ARTICLE 1
3.1.2 ARTICLE 2
3.1.3 ARTICLE 3
4. MAIN TEXT………………………………………………………………. 4.1 OBJECTIVE OF STUDY
4.2 SCOPE OF STUDY
4.3 METHODOLOGY
4.4 LIMITATIONS OF STUDY
4.5 THEORETICAL FRAMEWORK
4.6 FEEDBACK TO APPRAISEE
4.7 FORMAL APPROACH TO APPRAISAL PROCESS
4.8 TYPICAL APPRAISAL PROCESS
4.9 ERRORS ASSOCIATED WITH APPRAISAL PROCESS
4.10 FINDINGS AND ANALYSIS
4.10.1 GRAPHIC RATING SCALE METHOD
4.10.2 MBO METHOD
4.10.3 PRIMARY RESEARCH ANALYSIS

PERFORMANCE APPRAISAL

4.10.4 HOW ARE THE EMPLOYEES APPRAISED
4.10.5 FEEDBACK PROCEDURE
4.10.6 LOOPHOLES
4.10.7 PRODUCTIVITY RATE- AN INCREASE OR DECLINE?
5. COMPARATIVE ANALYSIS OF APPRAISAL SYSTEMS IN OTHER
INSURANCE COMPANIES……………………………………………………… 5.1 LIC OF INDIA
5.2 BHARTI AXA LIFE INSURANCE
5.3 UNITED INDIA INSURANCE
5.4 COMPARATIVE ANALYSIS OF SALES TURNOVER
6. CONCLUSION………………………………………………………………… 7. RECOMMENDATIONS………………………………………………………. 8. ATTACHMENTS……………………………………………………………… 9. REFERENCES………………………………………………………………… 10. GLOSSARY………………………………………………………………….

PERFORMANCE...

References: Mobile No. 09943634445
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