22-08-2012, 10:09 AM
PERFORMANCE MANAGEMENT SYSTEM AT TATA AIG LIFE INSURANCE COMPANY
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Introduction -
Measuring employee performance has come a long way from the annual performance appraisal to an ongoing Performance management system.
Performance management system is one of the key processes that , when effectively carried out helps employees know that their contributions are recognized & acknowledged , but at times it gets diverted from its objective.
There is a need that the opinion of the appraisees about the performance management system be discussed with the management so as to make the system highly effective. Management desires information on the perception of the employees towards the existing performance management system & wants to gauge its effectiveness. Hence this study is being conducted .
Statement of problems-
The process of measuring & subsequently actively managing organizational & employee performance in order to improve organizational effectiveness is currently seen as critical to the development & survival of organization. It may be positively dangerous simply to copy scheme used in other organization & worse still & attitude affect the employee performance, which in turn affect organizational performance & productivity. Therefore the statement of problem is “ To study the effectiveness of Performance management system at TATA AIG Life insurance company”.
Sampling-
The total sample size for project was 60. The information collected through above methods has been tabulation analyzed & interpretated. Finally an over all assessment of the contribute of the top management, supervisory staff has been towards improving the effectiveness of the organization.
Sampling Technique-
Sampling technique adopted for the study is non probability random sampling technique according to the convenience of the researcher.A questionnaire was administered to employee of TATA AIG Life insurance co. of different department like finance department , HR department, IT department, marketing department.
Sample Description-
The sample mainly consists of data from the primary sources that are utilized for the purpose of the study. This is done by means of administrating questionnaire to employees in different department. Secondary data like company journals news letters, records etc, where also related on the retrieving further information.
Both secondary & primary source of data are utilized for the purpose of the study.
Methodology
In order to accomplish the objective of the study. It is essential to articulate the manner in which it is to be conducted i,e the research process is to be carried out in a certain frame work. The research methodology which follows the backbone of the study.
Research methodology is a way to systematic solve the research problem. It is a procedure which is followed step by step to solve a particular research problem.There are basically four type of Researches.
Plans of analysis-
Analysis of varience or ANOVA is a statistical methods used to compare data from multiple groups to determine whether differences exist. ANOVA provides information about differences in process performance among employee & time periods. It is typically used during the analyze & improve phase of a process improvement during the performance management system. ANOVA helps employee clarify current situation. Here we can compare data for different situation to determine when or under what circumstances the problem under investigation occurs .If a suspected difference is verified using ANOVA, the group of employee can conclude is different & is affecting variance. The information can help the employees focus its problem statement. If a difference is verified , the factor is a confirmed cause that the employee team may want to address implementing solution during improve. ANOVA analysis allow evaluators to group employee in an objective manner.The evaluator may then use a number of variables to assess the performance of these group.