A company reviews the existing appraisal system of senior executive levels. The revised performance management system has components of performance planning, monitoring, review and development through involvement of the appraisee is being introduced. The focus of the performance management system for senior executives is to appraise them on different components of managerial responsibilities, consisting of performance, generic managerial competencies, values and potential, totaling to 100 marks. The system provides for the reporting officer (appraiser) and the executive (appraisee) to identify through discussion and agree upon a set of Key Performance Areas (KPAs) in brief at the beginning of the first half-year.
[...] Initiative and Speed: The Executive believes in taking the first step, thinking new and ahead and being swift without compromising on quality; he is creative and innovative and has the willingness to experiment and take risks. E. Total Quality: The Executive believes in pursuing excellence in all spheres of activity; he makes continuous efforts in improving standards of performance, systems and processes. Each value has to be evaluated through discussion on a rating scale of 1 to 5 the rating 1 being the lowest and 5 being the highest. [...]
[...] The aggregate of marks obtained for different KPAs is worked out and indicated as aggregate of IA. Both the Appraisee and the Reporting Officer sign the Part IA. Second half performance The System helps to review the Key Performance Area Targets for the Second Half-Year based on the evaluation of 1st half-year KPAs depending on actual achievements. The reworked KPA targets are briefly recorded, ‘Measures' for each KPA defined and Marks allocated. KPAs which extend beyond the 1st half year may be re- recorded in the targets of the 2nd half-year. [...]
[...] The competencies all together have a weightage of 20% in the total Performance Appraisal. The aggregate of the rating of each competency is to be arrived at the bottom of the ratings column. Thereafter the aggregate rating is to be converted to marks out of 20 using the Conversion formula (based on the maximum attainable marks of 40 i.e competencies x 5 maximum rating = 40). The review of competencies and completion of Part II for the previous appraisal year is done at the end of Appraisal year, not later than 15th April. [...]
[...] Competencies and evaluation To reward Appraisees not solely on the performance but also on the competencies, as performance may be influenced by several other factors on which executive has no direct control. Competency based evaluation would help the organization to take systematic steps for bridging the competency gaps. Competencies and ratings Competencies The competencies and the ascribed meaning/ability to be assessed are as under: A. Technical Knowledge: Knowledge and understanding of all aspects of the work of the organization B. [...]
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