A STUDY ON PERFORMANCE APPRAISAL AT HERO MOTOCORP LIMITED
A STUDY ON
HERO MOTOCORP LIMITED, HYDERABAD
Synopsis Submitted by
Hall Ticket No. 140317672222
ANWAR-UL-ULOOM COLLEGE OF BUSINESS MANAGEMENT
NEW MALLEPALLY, HYDERABAD – 500001
2. Review of literature
3. Need of the study
4. Objective of the study
5. Reasearch Methodology
6. Scope of the study
7. Limitations of the study
Performance appraisal is a systematic and periodic process of evaluating the employees’ behaviour in the work environment, including both qualitative and quantitative aspects of job performance. It indicates how an individual is fulfilling the job demands and is always in terms of results. Under performance appraisal, not only the performance of an employee but also his potential for development is evaluated. It is a description of an employee’s job relevant strengths and weaknesses.
Some applications of Performance appraisal are performance improvement, promotions, terminations and test validation. The assessment of how successful employees have been at meeting their individual goals form a critical part of human resource management. Performance appraisal is often included in performance management systems. Performance management systems are employed to manage and align all the organization’s resources in order to achieve highest possible performance. The success or failure of an organization largely depends on how performance is managed.
In recent years, the contribution of the two wheelers to the automobile industry sector is increasing and enjoying a dominant role. Automobile industry, being one among the biggest industries in Asia, has been witnessing spectacular growth throughout the last 20 years. The two-wheeler industry is dominated by the companies like Hero, Honda, Yamaha, Bajaj and TVS. Every company carries out the performance appraisal process in order to determine how its employees and the company as a whole is performing and take corrective measures in order to enhance the productivity. Therefore, improving the performance appraisal process should be among the highest priorities of any organization.
Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.) is the world’s largest manufacturer of two-wheelers, based in India. In 2001, the company achieved the respectable position of being the largest two-wheeler manufacturing company in India and also the World No.1 two-wheeler company in terms of unit volume sales in a calendar year. The corporate is committed to customer, quality and excellence and also to maintain high standards of ethics and social responsibilities.
Hero MotoCorp Ltd., has continued to be the leader in the Indian two-wheeler industry by developing different products across categories, venturing into new markets, rapidly expanding the network and continuously investing in brand building activities. Analysis of Hero MotoCorp Ltd will help to improve the productivity of employees by assessing their performance at regular intervals and to take necessary actions to bridge gaps and improve performance over a period of time. The main aim of the project is to analyze and improve the performance appraisal system of the organization by using different methods such as Management by Objective, Paired comparison and 360 degree feedback.
Performance appraisal can be used to assess the performance, identify the improvement areas and develop performance improvement programs. Thus performance appraisal will help in improving the work culture by convincing employees that their performance and career growth is directly linked with the performance of the company.
REVIEW OF LITERATURE
1. Armstrong, M (2006) – As a tool, performance appraisal focuses on what needs to be done by the people in the organization in order to achieve the objectives of the job to meet new challenges.
2. Kavanagh P., J. Benson, M. Brown (2007) – Human resource planners use performance appraisal to determine development needs, training programs and to set criteria to improve performance.
3. Gardner, C.E. (2008) – In performance appraisal, the main aim is to arrive at objective personnel decisions by evaluating an individual’s work. One of the main goals is to identify the strengths and weaknesses that form the basis of corrective actions for improved employee performance.
4. Lambert, C (2009) – Performance appraisal is a completely integrated system involving periodic planned discussions between the managers and employees. Employee’s performance is evaluated against predetermined goals, based on which the managers coach and counsel the staff in areas requiring correctives actions. This results in overall performance improvement for the benefit of both employees and the total organization.
5. Liza Estina Daoanis (2012) – Performance management process often include performance appraisal systems which involve different measurements throughout the organizations. If an organization wants to take advantage of its most important asset – employees and gain human capital advantage, then its focus should be on improving the performance appraisal system.
NEED OF THE STUDY
A dynamic and growth oriented organization requires a very good performance appraisal system. A good performance appraisal system brings up the productivity of the employees and the orgaization itself. HERO MOTOCORP PVT LTD has laid its own philosophy and well planned procedure to rate the employee which is very important for the development of the employees as well as the organization.
OBJECTIVE OF THE STUDY
Following are the main objectives of the study:
? To study and analyze different performance appraisal schemes of the company.
? To determine status of the existing performance appraisal system in terms of reliability, validity, quality and effectiveness.
? To identify impact of the performance appraisal system towards the performance of employees and analyze employee attitude towards the present appraisal system.
? To identify gaps and sugeest recommendations in implementation of the appraisal system of the company.
This study is a qualitative and quantitative research which is aimed to assess status and impact of Performance appraisal system on employees. Information was gathered from the questionnaires that were filled by the employees of the HERO MOTOCORP PVT LTD with regards to performance feedback.
SOURCE OF DATA
The study is based on primary as well as secondary data collected from different sources
Primary data is collected with the help of questionnaires, which consists of twenty questions each. The questionnaires are chosen because of its simplicity and liability. Researcher can expect straight answers to the questions. The respondents are informed about the significance of the study and requested to give their fair opinions.
Secondary data is collected through the documents provided by the personnel department of HERO MOTOCORP PVT LTD. The documents include personnel manuals, books, reports, journals, etc.
The sample size consists of 100 respondents employed in HERO MOTOCORP PVT LTD, Hyderabad. Of these 30 are executives, 20 are senior executives and the remaining 50 are employees.
Simple random sampling
SCOPE OF THE STUDY
In the present study, an attempt has been made to know the actual implementation of performance appraisal techniques in general and some other aspects such as awareness of the workers, effectiveness of the performance appraisal system in particular. Human resource projections are valid on appraisals. By improving job skills, the employees have lot of scope for development and prepare themselves for higher responsibilities.
A thorough analysis of the performance appraisal system will help the management to know the short comings, if any. The aim of appraisal system should be to allow for continuous communication between the management and employees about the job performance and must be aimed towards the total improvement of the organization as a whole.
LIMITATIONS OF THE STUDY
? The performance appraisal study is limited only to HERO MOTOCORP PVT LTD, located in Hyderabad.
? The study is conducted on a limited number of employees.
? Analysis of the data has been done based on the assumptions that the information provided by the respondents is genuine.
? The answers given by the respondents highly depends on the mood and interest and thus the accuracy fluctuates sometimes.
REVIEW OF LITERATURE
• NEED OF THE STUDY
• OBJECTIVES OF THE STUDY
• SCOPE OF THE STUDY
• DATA COLLECTION
• STATISTICAL TOOLS
FINDINGS, SUGGESTION & CONCLUSION