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This is to certify that the project work done on PERFORMANCE OF

carried out by MR. ANUSHODH NATH under my supervision and guidance. The project report is submitted towards the partial fulfilment of 2 year, full time Post Graduate Diploma in Management.

This Work has not been submitted anywhere else for any Degree/Diploma. The original work has carried during 25th April 2011 17th June 2011 in ING Vysya

Name & Sign of Faculty Date: 11 June 2011

If words are considered as a symbol of approval and token of appreciation then let the words play the heralding role of expressing my gratitude. I am greatly indebted to the Prof. Renu Luthra, Director and Mr V.K Luthra, Director CRC, Galgotias Business School for giving me the opportunity to do a project in ING Vysya Bank, Lucknow. It is my proud privilege to acknowledge with respectful appreciation my indebtness to my project guide Mrs. Priyanka Srivastava Asst Manager ING, Mr Anurag Srivastava Vice President & Mr Amit Gurnani Marketing Head . I like expressing my deepest gratitude and heartfelt thanks to my project guide Prof. Shalini for the invaluable guidance and constant encouragement, which she extended to me throughout my research project. I am greatly obliged to all staff members who directly and indirectly helped me to do my project work successfully. I record my thankfulness to Galgotias Business School, Greater Noida for equipping me to successful meet the challenges of complex legal environment of India.



I, Anushodh Nath , Roll no. 020, student of PGDM of Galgotias Business School, Greater Noida, hereby declare that the project report on PERFORMANCE OF DIFFERENT FINANCIAL PRODUCTS AT ING VYSYA AND ITS COMPARISON WITH ICICI AND HDFC BANK is an original and authenticated work done by me. I further declare that it has not been submitted elsewhere by any other person in any of the institutes for the award of any degree or diploma.

Name of the student: ANUSHODH NATH Date: 18th June 2011




A good performance appraisal system will let you get the most from your people and weed out those who cant or wont do the job. Theyll also provide you with some defence if youre sued over a termination. But theres a catch. You have to do right things. Indian industry is walking up to challenges thrown in by the market economy. To survive in this competitive scenario, managers are being pressurized to improve quality, increase productivity, cut down waste and eliminate inefficiency. The collective efforts of the employer and employee assume relevance and human resource management needs to be reassessed but none is more pivoted or difficult than performance appraisal. Performance appraisal is a formal, structured system of measuring and evaluating an employees jobs, related behaviours and outcomes to discover how and why the employee is presently performing on the job and how an employee can perform more efficiently in future, so that the employee, organization and society all benefit.


The performance appraisal of the employees in the organization should be an effective tool for measuring the employees performance. If the performance not measured in a real manner it will be a critical issue. A study on impact of performance appraisal wa s undertaken to study the reasons and ways to improve the condition.

RESEARCH DESIGN  The project was undertaken at OERLIKON GRAZIANO INDIA PRIVATE LIMITED, GREATER NOIDA, The topic of the assignment was the evaluation of employees performance appraisal at OERLIKON GRAZIANO, GREATER NOIDA.  This assignment was done to evaluate the present appraisal system, find out it pitfalls and suggest improvements. Also to evaluate the past appraisal system of the company and reason for the change of past appraisal system. The objectives were to assess the perception that executives had of the performance management system thereby helping the management in implementing the system in more effective manner.

THE OBJECTIVES OF THE STUDY  To conduct the study about the way involved in appraising the performance in the PMS.  To find out the satisfaction level and areas due to which they are not comfortable with the PMS and does not find it to be effective.

 To have employees perception about performance appraisal system.  To find whether the existing appraisal system in the organization exactly measures the employees performance.  To find whether the feedback from the appraisal system assists in the employees training and development.  To determine the gaps in the existing system.  To determine what type of appraisal did the employees really looking for.  To find is there is any opportunities provided for the employees to improve their performance. SCOPE OF THE STUDY
The scope of the project is fully dependent upon the objectives of the project.

 This study can be helpful to conducting any further research.




 The study is also helpful in finding out the respondents opinion towards certain attributes.  It is also helpful in finding out the reach and effectiveness of the performance appraisal system.  This study also serves as a base for understanding the perception about the employees regarding their performance appraisal.  With the results of the study the company can improve their standards of their appraisal system.


The study includes the calculation of null hypothesis and alternative hypothesis by comparing age group of the respondents and preference of the appraisal system. Null hypothesis is used for testing. It is a statement that no difference exists between the parameter and statistics being compared to it. The alternative hypothesis is the logical opposite of the null hypothesis.

The purpose of this study was to determine the factors which the employees in the organization preferring for their appraisal and the employees satisfaction with the existing appraisal system. The results of the current study can be used by organizations to develop policies, practices, and strategies regarding their appraisal system and can create greater efficiencies in meeting strategic business objectives. Findings were made based on the data collected from 150 employees with the aid of a questionnaire in which 5-point scale and rating scale were employed. Most of the respondents rated both subjective and objective measures as preferable. It was also found that some employees surveyed are dissatisfied with their present organization appraisal methods and there are great chances that they may leave their employer if they get better job opportunities from any better employer. The employers must pay attention to this situation and design effective methods as remedies at the earliest or else they may soon lose their efficient workforce.


Graziano Trasmissioni India Private Limited

Located at: Plot No. 14, Udyog Kendra Greater Noida, Gautam Budh Nagar U.P. (201 304) Registered Office: Industrial Shed No. D-8 (Basement) DSIDC, Packaging Complex Kirti Nagar, New Delhi-110015 Headquarters: Oerlikon Graziano SpA- Via Cumiana, 14-10098 Rivoli (Torino) Italy

Oerlikon Group

About Oerlikon Oerlikon (SIX: OERL) is one of the world's leading international high-tech industrial groups specializing in machine and plant engineering. The company is a leader in the field of industrial solutions and innovative technologies for textile manufacture, thinfilm solar and thin-film coating, drive, precision and vacuum systems. With roots in Switzerland and a long tradition stretching back 100 years, Oerlikon is a global player with a workforce of almost 18 000 at 180 locations in 37 different countries. The companys sales amounted to CHF 4.8 billion in 2008 and it ranks either first or second in the respective global markets. About Oerlikon Graziano Oerlikon Graziano is a global player in power transmission field with more than 80 years of experience. Today the company is focused on the major markets as Automotive, Off-Highway and Industrial Applications as well as in the zero emission fields. Through its global footprint - in America (USA), Asia (China and India) and Europe (Italy, Czech Republic, Russia and UK) and its innovation and hightech solutions, know-how and capabilities, Oerlikon Graziano is able

to face the customer needs, providing complete driveline systems as well as single gearing components. The companys sales amounted to Euro 536 Mio in 2008 with a workforce of nearly 3.300 worldwide.

Global Expertise Oerlikon is a global player with a clear commitment to traditional Swiss values: innovation, quality, precision, reliability. We are leading the way in the worlds high tech markets- our enormous innovative power comes from high performance and synergies created through our global network of research centers. More than 16,000 employees have a single, common vision: securing technological superiority into the future and setting new standards in high tech industries all over the globe. In European research centers, Oerlikon is bringing together unique knowledge along the entire value added chain in all the business areas in which we are active. In Asia, the worlds central information technology market, we maintain a leading position in product certification, sales and customer support. Global Presence Oerlikon group has its presence in six sectors i.e. Oerlikon- Textiles Technologies, Oerlikon- Coating Technologies, Oerlikon- Solar Technologies, Oerlikon Drive systems & components. The group is having over 170 manufacturing units around the world and industry presence for over 80 years.
With over 158 locations in 37 countries on four continents, we are everywhere our customers need us to be. For example, we operate in almost 90 coating centers worldwide, providing customized solutions and in house services. We are continually developing our presence in the three most strategic regions- Europe, the U.S, and Asia based on our customers locations.

Oerlikon deals in various sectors such as:-

Oerlikon- Textiles Technologies

Oerlikon Saurer Textile is a total solutions provider in the field of textile machines and equipment, and so meets the needs of the whole supply chain. From plant design for chemical fiber or no woven manufacture, to equipment for ring spinners, rotor spinners, winding, twisting or embroidery, the produces from Oerlikon Saurer Textile offer innovative and economical solutions.

Oerlikon Coating Technologies Oerlikon Balzers coating operates in the coating sector and has a prominent role in the world market in many of its fields of activity. These include equipment and processes for coating tools and construction units (Business Unit Services), production plants for thin- section solar modules (Business Unit Solar) and also complete production lines and coating plants for data storage devices such as hard disks or DVDs. Oerlikon Solar Technologies Oerlikon Solar provides innovative techniques for the cost- effective mass production of large scale thin film solar modules. Thanks to Oerlikons proven system engineering and new process technology, the manufacturing costs of these innovative solar modules are 30% lower than conventional crystalline solar cells of comparable quality. Significant potential savings are achieved through the consistent enhancement of mass production techniques. The breakthrough of solar energy as an alternative power supply is closer than ever before. Oerlikon- Vacuum Technologies Oerlikon Leybold Vacuum offers a broad range of ultramodern vacuum components, which are used in both analysis and manufacturing and for research purposes. The development of customer specific systems for vacuum production and processed gas delivery are amongst the strengths of Oerlikon Vacuum Systems. Comprehensive after sales service and training complete the range offered by Oerlikon Leybold Vacuum.

Oerlikon- Drive Systems Oerlikon drive systems are the leading worldwide provider of complete drive systems, gear parts and single components of transmissions. Through its global footprint it provides its customers localized solutions for design, manufacturing and product support. Oerlikon drive systems in focused in three key market sectors y Off Highway y Industrial y Automotive Oerlikon Components The business activities of Oerlikon Components include applications and technologies, from which the highest precision and accuracy is required. Oerlikon Components makes a significant contribution to technological progress in projection technology, space exploration and the semiconductor industry. Values of Oerlikon 1. Integrity 2. Innovation 3. Teamwork 4. Excellence

Integrity Have Transparent and open communication with our customers, suppliers and colleague and adherence to ethical principles.
Aim: Responsible dealings with our enterprise, society and the environment.


To transform new ideas into Valuable products and services; stemming from creativity and enthusiasm. Aim: Development of leading global products through the most advanced technologies, management processes and a pooled know how.

Teamwork Excellent cooperation and teamwork exist across the segments and business units; imagination and exceptional performance make for innovations; partners for our customers.
Aim: To pool knowledge and establish future markets together.

Excellence Exceptional performance at all times and all places

Innovative products and services with outstanding Aim: To achieve a noticeable increase in values for our customers

Preface & Purpose

This compendium is an effort to compile and present at one place, information, on Policies, Procedures and an overview of the Company. The Company believes and strives to achieve cordial relations with employees and cares for their growth and development and their contribution to the organizational goals. GTIPL attaches highest importance to excellence, innovation, teamwork, integrity. This is for internal use of the Company.

HR Vision
HR ensures transition from mere guardians of policies and procedures to imbibing of values, ethos, culture building that fosters commitment, delegation, accountability, ownership, team spirit, transparency, uniformity, firmness, fairness, performance excellence, leadership, learning organization, collaborative & participative work style and continuous improvement with focus on organization building. HR also maintains an environment that encourages employee to develop their talents, creativity, Empowerment and achieve superior performance. Maintain employment practices based on equal opportunity. Provide safe and healthy working conditions and an atmosphere of open communication. Respect all prevailing laws & legislation regarding employment practices, such as non discrimination laws, sexual harassment etc.

Mission Statement
Our mission is to be a progressive company having consistent growth through customer satisfaction, best manufacturing practices & team involvement with a focus on social upliftment.

Evolution of Graziano Trasmissioni

Milestones 1951 GRAZIANO Trasmissioni was founded by Mr. Carlo Graziano. The name of the company was Carlo Graziano & C. sas. The activity started in a small plant with 15 employees for the production of mechanical parts for every kind of sector and specific components for machine tools. 1956 The plant specialized in gear products and expanded until 1962 in the sector of the spare parts for cars and vehicles. The number of the employees was now 90. 1963 New Headquarters were opened in Cascine Vica and is still the Headquarter. The number of the employees increased to 120. It started the production of small and medium batches of gears, dedicated to the first assembly on heavy vehicles. 1964 New technologies were introduced: First bevel gear was cut with the CONIFLEX system and the turning operation with semiautomatic machines. 1971 The company changed its name to Carlo Graziano SpA Torino. At the beginning of the 70s the production of transmission components for industrial vehicles and tractors was expanded; a new GLEASON cutting technology was introduced for the bevel gears. 1975 The gear design has been improved by means of computer systems for scientific calculations.

Uniting the motion - Creating synergies between requirements and solutions

1976 Building of the new production plants respectively in GARESSIO (Cuneo) and in SOMMARIVA Perno (Cuneo). The opening of the new plants is due to the acquisition of new markets and the expansion of the production range. 1978 Realization of the first axle for earth moving machines 1981 Realization of the first power shift transmission for forklift trucks. This new conception of the product opens the doors to the European Market; in fact it begins its supply to the main European manufacturers of agricultural tractors and earth moving machines. 1982 Opening of the new plant in LUSERNA SAN GIOVANNI (Turin), this new plant has been planned with the concept of automatic factory equipped with new production technologies, such as CNC machine tools, machining centres, etc. 1983 Development of the components with expansion of the products for earth moving machines. During the same time, the R&D activity is intensified and all its departments are reinforced. The Company now has over 700 employees. Total Quality The product and service quality is the basis of GRAZIANO Trasmissioni strategies. The Quality Assurance System does not grant only the constant control in the production process, but it is pursued during all company processes, e.g.: the elaboration of offers, in co-design, in simultaneous engineering, in the testing and aftersales assistance. In this way, GRAZIANO Trasmissioni can offer the products at a higher quality level both in performance and in service. Sophisticated measuring and analysis equipments permit controls which respect the Customer requirements. CWQC (Company Wide Quality Control) The success in terms of quality results, reached by

GRAZIANO Trasmissioni is due to the total participation of the Company. The involvement of all the staffs in the company strategies, the improvement of the shop floor place conditions and the continuous activity of training are fundamental and reinforce the leadership in the market. THE CERTIFICATIONS The GRAZIANO Trasmissioni efficiency certified by the quality audits of its Customers and by ISO 9001 and AVSQ - the high professional level of the staff and the continuous involvement in the research highlight the profile of a modern company in this field. All this has opened the doors to the QS 9000 certification, which has been obtained in July 2001. One important thing is the effort with which the environmental problems are dealt with every day. GRAZIANO Trasmissioni pursues its campaign to defend the environment, to be in accordance with international rules. The final result will be the achievement of the ISO 14001 certification expected by end of 2001. After this certification, GRAZIANO Trasmissioni will continue in technological improvements in full respect of nature and in the more effective protection of the resources. IN INDIA GT INDIA Ltd the plant is located in an area of 60.000 sqm and has 82 employees. Its production consists of synchronizers and gears for agricultural tractors.

Graziano Trasmissioni India Private Limited 1997 Benchmarking and project definition for setting up a plant at Greater Noida 1998 Training & development of the Indian managers at Graziano Trasmissioni, Italy and lying down of the foundation stone of new plant 1999 Production of the first gear, spur type. 2000 Mass production of 30000 synchronizers shooting the market sale to 3.5 million euro (Rs. 15 crore)

2007 Plant area expanded to 23,000 sqm. 2010 Introduction of new technology, electron beam welding and expansion in the constructed area to 26,700 sqm

Synergy with Growth Rising turnover over the years

2009 2008


36.9 251

326 37.3 254 25


2007 2006

17.94 122

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86 6.61 45.45 4.5

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228 160 124 92 62 43 39 35 127 94 208 260 346 506


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Product Range

Graziano is worldwide leader in transmission components. We produce loose gears, synchronizers and complete transmissions for the major application fields. We cover agriculture, construction and passenger cars. We also have an interest in niches such as lowemission vehicles we make complete transmissions for electric vehicles. We produce complete gearboxes for luxury cars like Ferrari and Maserati. In our India plant, we produce variety of components not only loose gears but also synchronizers and complete transmissions.

Gears Gears are used in most types of machinery. In vehicle transmission, when used in pairs (fitted on two different shafts), they are used to transmit motion and power from one shaft to another. In this way, two shafts can be made to revolve at different speeds, depending upon the number of teeth on two gears. Gears can be of many types like spur gears, helical gears, bevel gears and worm gears. Spur and helical gears are used when axes of two shafts (on which gears are mounted) are parallel, whereas bevel gears are used when axis of two shafts are not parallel.

Crown Wheel and Pinion (CWP) Crown Wheel and Pinion are a type of bevel gear pair which is used to transmit motion at right angles. Inside vehicles, it transmits motion from transmission output shaft (pinion is used as transmission output shaft) to axle shaft which are at right angles. The teeth of CWPs may

be straight or spiral, depending upon usage. Generally, CWPs are placed inside axle assemblies.

In automobiles, a synchronizer is part of a synchromesh manual transmission that allows smooth engagement when shifting from one gear to another gear. It synchronizes the speeds of mating parts before they engage to allow the selection of gears without their clashing. Without synchronizers in cars, we cannot easily change gears while driving. All passenger cars with manual gearboxes have synchronizers inside them. In commercial vehicles also transmission with synchronizers is gaining weightage now.


CVT is the abbreviation used for continuously variable transmission. A CVT is an automatic transmission that provides smooth and "step less" ratio changes, unlike conventional transmission systems that use sets of fixed gears. It uses two pulleys with a steel belt running between them. To continuously vary its gear ratios, the CVT simultaneously adjusts the diameter of the "drive pulley" that transmits torque from the engine and the "driven pulley" that transfers torque to the wheels. With step less shifting of gear ratios, the CVT can avoid the shift-shock and deliver smooth driving, making it an exceptional transmission solution. Many car companies are using CVT in cars in USA. CVT produced in GTIPL is used in CNH tractors. Developed in cooperation with CNH for a 4050 horsepower compact tractor range, Graziano India produces the agricultural markets first chain CVT.


In the automotive field, a transaxle is a major mechanical component that combines the functionality of the transmission and axle into one integrated assembly. Transaxles are near universal in all automobile configurations that have the engine placed at the same end as the driven wheels. Transaxle produced in GTIPL is used in Club Car.

Axles are an integral structural component of a wheeled vehicle. The axles maintain the position of the wheels relative to each other and to the vehicle body. An axle transmits motion from the transmission to wheels of the vehicle. It bears weight of the vehicle on it. The PR10 axle is used in JCB wheel loaders.

Electron Beam Welding

The focused beam results i a very hi h energy density at the spot where the beam stri es the work. It is possible to concentrate the incident beam into a very small area, thereby producing maximum energy densities of about 100 to 1000 times higher than arc welding heat sources. Welded Area

World Class Facility              

23,000sqmt of built area Wonderful Reception Design Lab Assisting customers in Design Development Maintaining Global Operational Standards Clean & organi ed shop floor Implementation of 5S A positive work environment Focus on training of manpower Emergency Medical Facilities Fresh, hygienic & nutritious food for all by Sodexo (M.N.C.) Safe & Secure Facility Fully Air-cooled Facility Healthy Worker-Management Relationship The Annual Carnival Caring for our extended family

Organi ation Structure

Supplier to Premium Brands

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Business Code of conduct

The Company Code of Conduct and Ethics is intended to provide our employees with a clear understanding of the values of the company, the principles of business conduct and what is expected from each employee. Every employee of the Company must review and agree to comply with the Code, as a pre-condition of his or her relationship with the Company. The Business Code of conduct would be applicable universally to each and every employee, regardless of his or her place of posting.
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We are committed to partnering with management by providing expert advice and services, and by developing and promulgating policies to facilitate a safe, productive work and learning environment. We envision ourselves as flexible, creative problemsolvers, professionals with collaborative and participatory work styles, well-trained, technically competent and knowledgeable in our fields, advocate and champions of a organizational climate that fosters performance excellence, full participation, and personal and organizational growth, our efforts are efficient and effective, adding of value to GRAZIANO. HR Vision HR ensures transition from mere guardians of policies and procedures to imbibing of values, ethos, culture building that fosters commitment, delegation, accountability, ownership, team spirit, transparency, uniformity, firmness, fairness, performance excellence, leadership, learning organization, collaborative & participative work style and continuous improvement with focus on organization building. HR also maintains an environment that encourages employee to develop their talents, creativity, empowerment and achieve superior performance to maintain employment practices based on equal opportunity, provides safe and healthy working conditions and an atmosphere of open communication. Ensures respect of all prevailing laws & legislation regarding employment practices, such as non discrimination of laws, sexual harassment etc. Training & Development The organization is committed for the development of people in their jobs in a manner that would prepare them to step into any key position and accept higher responsibilities. For this, suitable training is imparted to enhance the multiple skills of the people and to enrich their multifunctional skills. You may be offered both in house and external training program during the year to provide you an exposure to a range of expertise within and outside the company,

because it is the quality of the personnel that ultimately reflects upon the efficiency of the company s operation. Healthy & Safe Workplace To ensure a healthy & safe working environment a safety committee has been formed which meets on a weekly basis to discuss on the safety related issues and a safety organogram is in place to deploy the safety responsibility for each section to the concerned employee. Also to ensure that our employees work in a safe and secure environment and to spread awareness on the various safety precautions that the employees are expected to take strong emphasis is laid on safety awareness training. As a policy approach it is mandatory that while working on machines the employees should use the various personal protective equipments like safety goggles, gloves, safety shoes, ear plugs, and helmet, face shield, etc. To ensure healthy environment company has a self equipped medical room for providing medical emergency 24 hours wherein a doctor and Para medical staff is available. Apart from this company also owns an ambulance for medical emergencies. Employee Welfare, Empowerment & Engagement Graziano Trasmissioni lays utmost importance in the development of its most important asset, the employees. Various initiatives are being taken from time to time to ensure employee empowerment and engagement. There are various committees like Industrial Relations committee, Canteen, Welfare & Culture transformation committee, Transport committee and Safety committee in which employees can participate and share their views regarding the challenges faced by them at work and propose the action that could be taken to address them. Mentioned below is a list of activities undertaken in this endeavor:

 Open House  Festival celebrations

 Helpdesk for Grievance redressal / HR at shop floor- Two emergency help line numbers  Suggestion Scheme/ Kaizen  Birthday Celebrations- card and a token gift  Prasad distribution  Disciplinary Committee - So as to respect and inculcate a culture of Natural Justice in addressing issues such as misconduct, absenteeism, attitude or behaviour of employees found guilty and also weeded out around 38 non productive workers over a period of 5 months, judiciously and sensibly.  In- house journal- Parivartan  Sports activities- Cricket  Transport committee  Employees family visit  No tobacco week  Safety week  Drawing Competition for employees kids, etc.
HR AT GRAZIANO We are committed to partnering with management by providing expert advice and services, and by developing and promulgating policies to facilitate a safe, productive work and learning environment. We envision ourselves as flexible, creative problemsolvers, professionals with collaborative and participatory work styles, well-trained, technically competent and knowledgeable in our fields, advocate and champions of a organizational climate that fosters performance excellence, full participation, and personal and organizational growth, our efforts are efficient and effective, adding of value to GRAZIANO.


It is Graziano policy that there will be no discrimination against any employee or applicants for employment based upon race, color, religion, sex, national origin, marital status, age or any other classifications. This policy pertains to all employee- related activities including hiring, employee promotion, demotions, transfers, recruiting and forms of compensation and training. A strong commitment by each employee is necessary to ensure equal opportunity for all.

HR POLICY Human Resource Management in the Graziano Trasmissioini has assumed greater importance for bringing about sustained growth, organizational effectiveness and individual satisfaction. GTIPL believes that the human resource policies should be dynamic and adoptive to create proper working environs, so that the employee can perform their best in terms of the contribution and attention to further growth of the company. Employees are encouraged to work and think independently in furtherance of the GTIPL s objectives and philosophies and the contribution of the employees are not only recognized but also duly rewarded by way of promotion, special increments and job enrichment. In order to meet the aspiration of the employees, company has organized and will organize job specific and behavioural training at all its locations in India. The purpose of the training programs is not only to update the knowledge of the employees but also to develop them to assume higher responsibilities in course of time. We have the following things to be done as per HR Policy:-

 To maintain an environment that encourages employees to develop their talents, exercises, creativity and achieve superior performance.

 To maintain employment practices based on equal opportunity for all employees.  To provide safe and healthy working conditions and an atmosphere of open communication for all employees.  To respect all prevailing legislation regarding employment practice, such as non discrimination laws, sexual harassment etc.


About Performance Management System


A formal and systematic process, by means of which the job relevant strength and weakness of the employees are identified, observed, measured and developed.


In the best of worlds, employees would love their jobs, like their coworkers, work hard for their employees, get paid well for their work, have ample chances for advancement, and flexible schedules so they could attend to personal or family needs when necessary. The performance appraisal is to assess a person and let him to know where he is being standing along with the job. It is to find whether he is performing with his task or not. Performance appraisal is a method of evaluating the behaviour of employees in the work spot, normally including both the quantitative and qualitative aspects of job performance. It is a systematic and objective way of evaluating both work related behaviour and potential of employees. It is a process that involves determining and communicating to an employee how he or she is performing the job and ideally, establishing a plan of improvement.

Performance appraisal has two overarching goals:

1. To encourage high levels of worker motivation and performance. 2. To provide accurate information to be used in managerial decision making. These goals are interrelated because one of the principal ways that managers motivate workers is by making decisions about how to distribute outcomes to match different levels of performance.


1. Helps the employee to overcome his weakness and improve over his strengths thus enabling him to improve his performance and that of the department. 2. Generates adequate feedback and guidance from the reporting officers to the employee. 3. Contributes to the growth and development of the employee by helping him in setting realistic goals. 4. Provides inputs to: (i) System of rewards comprising salary increments, appreciation, additional responsibilities ,promotions etc. (ii) Salary Administration 5. Helps in creating a desirable culture and tradition in the organization. 6. Helps in identifying employees for the purpose of motivating, training and developing them.


Performance appraisal is undertaken for variety of reasons. Few of them are as follows1. 2. 3. 4. 5. To asses training need To audit the skill within the Organization To set target for future Performance To identify potential for Performance It can help to a certain extent in enabling employee to understand more about his role and become clear about his function

6. It can turn out as an instrument in helping each employee to understand his own strength and weakness with respect to his role and function in the company 7. It is also an instrument in the creation of positive and healthy climate in the organization that drives to give their best and enjoying doing it. 8. It can help in identifying the development need of each employee with respect to his role and function

In order to achieve the main objectives the appraisal format should have the following components-

1) Identification of KRAs (Key Result Areas)

Each job has set of functions to be performed by it holder. In manual jobs there are clear and specific. As one go up in the organization hierarchy for supervisory and managerial jobs, the activities and function becomes complex and many keep on changing priority from time to time. In addition to the identification of the KRAs it is necessary to set the target for the period of appraisal. These targets should deal with the task expected by the appraisal lender each KRA during the period that will be reviewed later.

2) Managerial and Behavioral qualities

This is the extent to which each employee exhibit the qualities desired for the employee of that organization. These qualities may be managerial quality or behavioral constellation. These qualities are also the qualities that are increasingly required for performing function associated with the higher-level job in the company.

3) Self appraisal
At the end of the year or the appraisal period, the appraisal process should begin with self-appraisal by each employee. To appraise ones

own self on KRA targets, the appraisee would be through a process of reflection and review. Behavioral scientist has established beyond doubt that change is faster when it is self-initiated. If any employee has to or do better, he must feel the need to do so.

4) Performance Analysis
Because of performance appraisal, the communication between the appraisee and the appraiser should increase. The Appraiser should know more and more about the circumstances under which the appraisee is working the difficulties he is expecting and the contribution he is making. The appraisee should also understand that how he himself is responsible for some of the achievements and nonachievements. To meet these objectives at the end of the year, the appraisee reflects about his performance and indentifies factors that helped him in doing whatever he has done and the factor that is preventing them from doing better.

5) Performance Discussion
According to this, the appraisee should reflect about his own performance and prepare notes of his assessment. He should then fix a time for review discussion. The review discussion is intended to understand each other so that they can jointly do better in future. The purpose of the review discussion for the appraisee is to know more about the perception, expectation and assessment of his boss and also to communicate his difficulties and ask for support if needed.

6) Identifying development need and action planning

The objective is to identify the development need. Target not accomplished or KRAs poorly performed may be the indicator of inadequate understanding or lack of capabilities through training, on the job coaching etc becomes the action plan. Development needs flow directly from the assessment (self assessment as well as assessment by the appraisee) of the performance. The appraiser should therefore indicate the development need of the employee and suggest action.

7) Final Assessment
The final assessment should be given by the appraiser after completing all steps mentioned. By this stage, he would have a thorough understanding subordinate, his accomplishments, strengths, weakness, development needs, etc and in good position to assess him on a rating scale. Since such rating is required for the administrative purpose, the process for that period should complete his final assessment.


Performance appraisal can be undertaken either on informal or on a formal basis.

The steps involved in the performance appraisal are as follows:

Defining objectives of Appraisal

Defining appraisal norms

Designing appraisal program

Implementing appraisal program

Appraisal Feedback

Post Appraisal Action


Managers can use the information gained from performance appraisal for two main purposes: 1. Developmental purposes such as determining how to motivate a worker to perform at a high level, evaluating which of a worker's weaknesses can be corrected by additional training, and helping a worker formulate appropriate career goals. 2. Evaluative, decision-making purposes such as deciding whom to promote, how to set pay levels, and how to assign tasks to individual workers.


The measures managers use to appraise performance

1. 90 Degree Feedback Consists of feedback from one group like (a)Immediate Supervisor/ Reporting Manager 2. 180 Degree Feedback- Consists of feedback from two groups like (a) Reporting Manager (b) Reviewing Officer 3. 270 Degree Feedback- Consists of feedback from three groups like (a) Reporting Manager (b) Reviewing Officer (c) Peers 4. 360 Degree Feedback- Consists of feedback from four groups like (a) Reporting Manager (b) Peers (c) Reviewing Officer d) Subordinates 5. 450 Degree Feedback- Consists of feedback from five groups like

(a) Reporting Manager (b) Peers (c) Reviewing Officer (d) Subordinates (e) Customers

6. 540 Degree Feedback- Consists of feedback from six groups like (a) Reporting Manager (b) Peers (c) Reviewing Officer (d) Subordinates (e) Customers (f) Stakeholders 7. 630 Degree Feedback- Consists of feedback from six groups like (a) Reporting Manager (b) Peers (c) Reviewing Officer (d) Subordinates (e) Customers (f) Stakeholders (g) Acquaintances/ Friends/ Family

REVIEW OF LITERATURE M Bowels and G Coates (1993)

The Management of Performance as Rhetoric on Reality

ARGUMENT: Managers are mostly appraised by results, but results alone cannot reflect performance because it is still affected b y many other factors.

RESEARCH: The problems faced by the organization experiencing some difficulties were measuring performance and the extra demands made on managers.

CONCLUSION: Management should provide the enabling conditions through which work is performed. Performance appraisal should be an opportunistic means to address performance issues rather than a coherent systematic process.

D Winstanely and K Stuart-Smith (1996)


 Conclusive evidence that leads to performance is lacking.  Not enough time is given to the process.  It reinforces modes of intrusive control.


The focus must move awa y from measurement and judgement towards developing, understanding and building up trust to allow a genuine dialogue to take place.


Oerlikon Graziano have 180 degree feedback method which include following steps

 Employee sets annual objectives / KRAs for himself based on companys goal

 Immediate Superior / Reporting Managers feedback  Super Senior / Reviewing Officers feedback
KRAs / objectives will be reviewed by the superiors bi annually depending upon the date of joining of each employee (i.e. setting up of KRAs - in First month and Review of KRAs and setting up of new KRAs in seventh month respectively.


CREATING CATEGORY/DEPARTMENT WISE KRAs  Human Resource y Training to workers/ staff y No downtime because of manpower  Production
y Attendance / Punctuality y Kaizen activities/ Suggestions

y Attendance / Punctuality




INDIVIDUAL (Key Result Areas's)

y Kaizen/ Suggestions

y Power / Fuel Cost y Preventive Maintenance

y 5S y No shortfalls in materials required

y Reconciliation of sales data y MIS report generation


(BLUE COLLARS)  Appraisal forms sent to departments by 7th of every month  For the new joinees ( Apprentices, Contractual & Blue Collars) the appraisal cycle for first year consists of: o Monthly appraisal o Quarterly Appraisal o Six monthly appraisal o Annual appraisal o At the time of promoting the markings of annual appraisal are considered.  Department HOD & Line in charges discuss the performance of the employees amongst themselves  Rating is done on the competencies mentioned in the appraisal format

 Appraisal/ Increment of the BC employee is based on various aspects  Behavioral/ attitudinal aspect of the BC employee  Contribution/participation in 5S & Kaizen  Showing Responsibility  Taking Initiative  Following work instructions  Maintaining Discipline  Duly filled in forms with the signature of reporting officer and reviewing officer to be handed over back to HR department by 20th of every month


1. Forms would be provided to the appraisers one month before the due date of the appraisal of any employee. 2. Employee in consultation with his reporting manager sets the objectives and fills in the Performance Objectives & Development Plan within 7 working days. 3. Appraiser (Reporting Manager & Reviewing Officer) to fill Part II of the form within ten days of issue of form 4. Employee to fill Self Assessment form within ten days of issue of form 5. Appraisers to fill Remarks & Remuneration Review Section within next 2 days 6. Forms to be handed over back to the HR department by 13th 15th working day from the day of issue of form 7. HR department to make letters within next 7 days

8. Final signatures by the heads to be undertaken within next five days 9. Letters to be handed over to the respective HODs the same day. 10. Appraisals to be declared by HOD by end of the day

11. Further discussion of HOD with the non appraised workers and others for next one week

Competencies to be evaluated during Performance Appraisal of Staff Members Production Staff

For each competency marks will be allotted out of 10. 1. Quantity of Work 2. Quality of Work 3. Trade Knowledge 4. Team Work 5. 5S/ Safety Consciousness 6. Discipline 7. Enthusiasm and Learning Abilities 8. Communication 9. Supervision & Leadership 10. Machine / Equipment Handling

Non -Production Staff

For each competency marks will be allotted out of 10. 1. Quantity of Work 2. Quality of Work

3. Trade Knowledge 4. Team Work 5. 5S/ Safety Consciousness 6. Discipline 7. Enthusiasm and Learning Abilities 8. Communication 9. Personality 10. Initiative and Attitude


Research is a scientific and systematic search for pertinent information on a specific topic. Research is an art of scientific investigation. According to Clifford Woody, Research comprises defining and redefining problems, formulating hypothesis or suggested solutions, collecting, organizing and evaluating data, making deductions and reaching conclusions and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis.

Research design aids the researcher in the allocation of limited resources by posing crucial choices in methodology. Research design is the plan and structure of investigation so conceived as to obtain answers to research questions. The plan is the overall scheme or program of the research. It includes an outline of what the investigator will do from writing hypothesis and their operational implications to the final analysis of data.


The design for this study is descriptive research design. This design was chosen as it describes accurately the characteristics of a particular system as well as the views held by individuals about the system. The views and opinions of employees about the system help to study the suitability of the system as well as the constraints that might restrict its effectiveness

The sampling technique adopted for the purpose of the stud y is convenience sampling.

As the name implies a convenience sample means selecting particular units of the universe to constitute a sample.

The sample size of the study is 285. This sample is considered as representative.


The primary source of data is through Questionnaire.

The secondary source of information is based on the various details retrieved from Journals, Websites and Magazines. The data for this study has been collected through primary sources. Primary data for this study was collected with the help of Questionnaires and evaluation feedback forms.



The tool used for collecting the data is through the questionnaire . The main reason for selecting the questionnaire method for the study is: y Respondents have adequate time to give well thought out answers. y The time of the study was also a limiting factor.

y Four pointer scales were use through the Questionnaire.


Statistical tools like Tabulation, Graphic Representations, percentage analysis and are used in the compilation and computation of data.

Percentage refers to a special kind of ratio. Percentage is used in making comparison about two or more series of data. Percentage as also used to describe relationship. It is also used to compare the relative terms of two or more series of data.
Formula: Number of respondents v 100 Total no. of respondent


To study the Impact of Performance Appraisal System at Oerlikon Graziano, Greater Noida

Such questions are also called fixed alternative questions. This method is also facilitators the respondent to answer in some other way on other alternative is provided as a choice.



OPTIONS Very Effective Effective Fairly Effective Ineffective

% 75% 14% 5.6% 3.9%

80% 70% 60%


Very Effective


Fairly Effective I effective



0% Very Effective Effective Fairly Effective I effective


The above table shows that 75% of the respondents consider it very effective, 14% consider it effective, 5.6% consider it fairly effective, and 3.9 consider it ineffective. So after analyzing I find out that maximum employees are in favour of yearly evaluation of performance.


OPTIONS Absolutely Partially Reasonably Well Not Realistically

% 78% 13% 7% 1%


80% 70%

50% 40%
30% 20%

Absolutely Partially

Reasonably Well Not Realistically

10% 0% Absolutely Partially Reasonably Not Well Realistically


In the PMS The above table shows that 75% of the respondents consider it very effective, 14% consider it effective, 5.6% consider it fairly effective, and 3.9 consider it ineffective. So after analyzing I find out that maximum employees are in favour of yearly evaluation of performance.


OPTIONS Absolutely Partially Reasonably Well Not Appreciated

% 78% 13% 7% 1%

Chart Title
Absolutely Partially Reasonably Well 0% Not Appreciated





In Oerlikon Graziano employees are highly appreciated for their good work done. The above table shows that 78% of the employees are high appreciated by their peers. 13% shows that they were partially appreciated. 7% shows that employees are reasonably well appreciated.


OPTIONS Absolutely Partially Reasonably Well Not Appreciated

% 80% 13% 5% 3%

90% 80%
70% 60%

50% 40%


Partially Reasonably Well Not Appreciated

20% 10%



Reasonably Not Well Appreciated

The table shows that 80% of the respondents are agree with their personal growth, 13% of the respondents thinks that it partially does, 5% of the respondents somewhat agree with their personal growth and 3% of the respondents are disagree with their personal growth.


OPTIONS Absolutely Partially Reasonably Well Not Appreciated % 49% 38% 5% 8%






Abs l tely

a rtially


10% 0%
( "' &" % $

Abs l t ely
# "


eas ably t Well Appreciate

The table shows that 49% of the respondents had clear knowledge about Performance appraisal Policy & Procedures indicating a very low knowledge of employees in above case, 38% of the respondents had partial knowledge, 5 & 8 % had very low knowledge of Policy & Procedures.

t Appreciate

0 )

ably Well



OPTIONS Absolutely Partially Reasonably Well Not Appreciated

% 57% 24% 11% 8%

Chart Title
Absolutely Partially Reasonably Well Not Appreciated

8% 11%



The table shows that 80% of the respondents are agree with their personal growth, 13% of the respondents thinks that it partially does, 5% of the respondents somewhat agree with their personal growth and 3% of the respondents are disagree with their personal growth.


y Majority of the respondents (72%) on average were in favour of the current Performance Appraisal System. y 65% of the respondents prefer supervisors for their appraisal and the low level 10% prefer peers for their appraisal. y 80% of the respondents prefer both the quality and target for their basis of performance appraisal and low level 8% prefer target for their basis of performance appraisal. y 50% of the respondents prefer the frequency of appraisal as annual and the low level 4% prefer 180 degree. y 80% of the respondents prefer that performance appraisal should be based on all (personality traits, behaviour and results) and the low level 4% prefer personality traits. y 76% of the respondents prefer both (subjective and objective) the appraisal and the low level 12% prefer subjective and objective appraisal. y 68% of the respondents said that there is no gender discrimination. y 48% of the respondents are agree with daily contact at the time of appraisal and the low level 2% were strongly disagree. y 56% of the respondents are agreeing with feedback given at the time of appraisal and the low level 2% were strongly disagreeing.

y 42% of the respondents are agree with evaluation of the strength and weaknesses at the time of appraisal and the low level 4% were strongly disagree. y 56% of the respondents are agree with evaluation of skill gaps and the low level 8% were disagree with this. y 36% of the respondents having no comment based on effective training after appraisal review and the low level 2% were strongly disagree. y 46% of the respondents are agreeing with the personal growth of the individuals and the low level 4% were disagreeing. y 54% of the respondents are agreeing with the promotional aspects through appraisal and the low level 6% were disagreeing. y 86% of the respondents are agreeing with opportunities to improve their performance after appraisal. y 70% of the respondents are agreeing with the changes in attitude/behaviour after appraisal.


y The company should conduct effective training after the performance appraisal for their employees to improve their performance and also CFR ratings should be discussed with the employees at the time of performance appraisal review. y The company should give combination of both (subjective and objective) appraisal and it should be of half yearly. y The appraiser should keep on contact with the employees and motivate them for their growth and also to achieve the organizational goals. y When an employee is newly joined in an organisation, he/she should be given proper information about performance appraisal system and its impact towards his/her job. y Once an employee is evaluated, he/she has to be informed about their strength and weaknesses. An employee should aware of the above, he/she will improve their strengths and weaknesses and also it helps to increase the productivity of the organisation.


 Time and resource were the major constraints during the execution of the project. Therefore only a limited number of employees were included in the project.  The respondents were selected inside the organization only. So it cannot be generalized as a whole.  Some of the respondents were not even ready to spare time with the researcher.  There are many respondents who hesitated to answer the questionnaire.  The human behaviour is dynamic and hence the results may not hold good for a long time.  The results of the survey are totally dependent on the accuracy and authenticity of the information provided by the respondents.

In this study, Performance Appraisal System followed at Oerlikon Graziano, Greater Noida (Drive systems) was evaluated and found to be good. This project work also reveals the gaps in the existing system. By providing suitable training and development programmes, the concern organisation can improve the existing performance appraisal system. Overall, this project work helps to understand every aspects of performance appraisal system.

y VSP Rao Human Resource Management, Anurag Jain for excel books, 2005 ninth edition. y R. Kothari - Research Methodology Methods and Techniques, New age international publishing, second edition. y Donald R Cooper, Pamela S Schindler Business Research Methods, Tata MC Graw Hill, ninth edition. y Performance management Michael Armstrong and Angela Baron. y y Oerlikon Official Website



Department : Name. : Employee Code :

Designation Date of Joining :

Date of Birth :


Appraisal Date

Appraisal Venue



PROCEDURE: The performance objective section is designed to help you set your objectives, review and record actual results at the end of the year. The form provides for setting three objectives. (Please use additional sheet if there are more than three objectives) These objectives are set by Employee and his Reporting Officer in consultation with your team and based on overall companys objectives. Every objective must contain a target date. The objective must be reviewed at the end of the year.

SR. #





SR. #



SR. #


* RATING SCALE ( 0,1,2,3,4 )

Refer Page No. 5, Heading Performance Rating Factor for the meaning of Rating Scale 0,1, 2,3,4. Signature & Date : Reporting Officer Employee



1. QUANTITY OF WORK (Output compared to desired within scheduled time frame and wastage limit.) 2 4 6 8 10 Low Output Turns appropriate volume with more than expected time span and wastage Turns Out good Volume within appropriate time and wastage limit Fast Worker, High Output and least wastage Consistently High Output with almost no wastage

2. QUALITY OF WORK (Accuracy, neatness, conformance to standard and rejection) 2 4 6 8 10 Inaccurate & Careless Repeated Errors Usually Careful, Sometimes make Errors High Quality Highest Quality

3. TRADE KNOWLEDGE (Applies his knowledge, skills, abilities, techniques and basic methods. Anticipates and identifies problems and have ability to coordinate and systematize.) 2 4 6 8 10 Lacks knowledge of his Field Hazy ideas, lacks confidence in knowledge. Works unsystematically General knowledge and needs more experience. Works systematically Good working knowledge and works systematically Thorough knowledge of his field and always works systematically

4. TEAM WORK (Listens to others ideas and help others to their problems. Work effectively with employees of other and within department. Willingly consult others including subordinates and peers for their opinions and information and willingly change his opinion) 2 4 6 8 10 Poor 5. HOUSE KEEPING 2 Poor Satisfactory Good Excellent Outstanding

6 Sometimes need instructions & reminder

8 Maintains house keeping with complete responsibility

10 Also prompts others to keep his area clean.

Needs constant reminder & instructions

6. DISCIPLINE (Following of companys rules, regulations, norms and policies) 2 4 6 8 Poor Satisfactory Good Excellent

10 Outstanding

7. ENTHUSIASM & LEARNING ABILITIES (Interest in Work, Sincerity & Mental alertness, retention power) 2 4 6 8 10 Not mentally alert and indifferent worker Absorbs slowly, poor memory and sometimes lacks interest in work Understands, retains instructions and average interest in work Learns rapidly, sharp memory and good interest in work Keen mind, grapes ideas immediately and work with zeal, very enthusiastic worker

8. COMMUNICATION (Confident while interacting with others; effective listener; gives clear, concise, complete and correct messages; deals courteously and tactfully with others) 2 4 6 8 10 Poor Satisfactory Good Excellent Outstanding

9. PERSONALITY (Effect on others of appearance, disposition, mannerism, sense of humor, fairness, confidence and respect accorded by others.) 2 4 6 8 10 Disagreeable, inclined to quarrel Not friendly, disliked by several, frequently antagonizes others Gets along well and is friendly. Seldom Causes friction Good Attitude, friendly and gets along well with associates Respected by all. likes to help other, tactful, excellent attitude

10. INITIATIVE & ATTITUDE (Independent thinking, improvement in job efficiency, selfreliance, degree of supervision needed in new or unusual circumstances) 2 4 6 8 10

Routine worker, requires guidelines and is highly pessimist

Waits for directions and has pessimist attitude

Does regular work without directions

Does regular work without directions and has optimistic attitude

Seeks and creates opportunities and highly optimistic

Total Marks secured out of 100 Marks:

PART III- REMARKS SECTION (To be filled by the Appraiser

Kindly give the appropriate answer / remarks of the following questions.

1. Kindly mention the strengths and weaknesses of the employee

2. Kindly mention the employees areas of interest

3. Give your recommendations with regard to promotibility of the candidate, depending his / her competencies & experience. (Tick whatever is appropriate)

Promote In the future Immediately 2 Years

In the next Not at all

4. Mention areas where the employee may be rotated / transferred with alternate and / or additional job responsibilities.

5. Specify the area where he needs to be trained, if required (both behavioral / technical area).


PERFORMANCE RATING Below 51 5165 66__80 81__90 91__100 (Poor) (Satisfactory) (Good) (Excellent) (Outstanding)

PROMOTABILITY Do you think individual has the capacity for promotion?

a. Promote Immediately

(Please tick the appropriate box)

c. In the future d. Not at all.

ANY OTHER REMARKS:____________________________________________________________





b. In the next



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The following questions are graded on a

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Absolutely Partially Reasonably Well Not Appreciated

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