Sie sind auf Seite 1von 43

A Project Report on REVIEW OF PERFORMANCE APPRAISAL IN JCT LTD FOR MANAGERIAL CADETS SUBMITTED TOWARDS FULFILLMENT OF SUMMER TRAINING

OF POST GRADUATE DIPLOMA IN MANAGEMENT (APPROVED BY AICTE, GOVT. OF INDIA) ACADEMIC SESSION 2008-2010

UNDER THE GUIDANCE OF

SUBMITTED BY:

INSTITUTE OF MANAGEMENT STUDIES LAL QUAN, GHAZIABAD

CONTENTS Chapters 1 2 3 4 Particulars EXCECUTIVE SUMMARY OBJECTIVES OF STUDY PROFILE OF ORGANISATION RESEARCH METHODOLOGYS 4.1 Research Design 4.2) Sample Design 4.2.1) Sample Unit i. Sample Size ii. Sampling Technique iii. Sampling Area 4.2.2) Data Collection 1. Sources 2. Tools 4.2.3) Data Analysis i. Statistical Tools/Technique s ii. Inferences Page No.

5 6 7 8

FINDINGS AND CONCLUSIONS RECOMMENDATIONS AND SUGGESTIONS BIBLIOGRAPHIES ANNEXURES

LIST OF TABLES/FIGURES

Tables 1 2 3 4 5 6 7 8 9 10 11

Particulars Organization Charts of JCT LTD Organization chart of human resource department of JCT LTD Understanding objective of appraisal system Fairness in appraisal system Effectiveness assessment of performance Enhance career opportunity Good scope of feedback and counseling Reflect the extra efforts made during job Communication of job requirement Transparency in appraisal system Contraction of training schedule is according to the need identified in appraisal system

Page No.

12 13 14 15 16 17 18 19 20 21

Identification of both professional and behavioral skills Linked promotional policy with the appraisal system Appropriate rating scale used in the appraisal system Introduction of 360degree ANOVA KMO and Bartlett's Test Communalities Total Variance Explained Component Matrix Rotated Component Matrix

1) EXECUTIVE SUMMARY Performance appraisal is the most powerful tool for improving the performance of employees. Performance appraisal is a formal, structured system of measuring and evaluating an employees job related behaviors and outcomes to discover how and why the employee is presently performing on the job and how the employees can perform more effectively in the future so the employee, organization and society all benefit.*

The company that I have selected in Textile sector is JCT LTD. JCT limited Phagwara; a composite unit having spinning, weaving, and processing facilities is a blue chip company of the Thapar Group and was incorporated on 28th October 1946 under the name of M/S Jagatjit Cotton textiles Mills. JCT believes in quality, which results in leadership, and has led them to tremendous growth. JCT fabrics have captured profitable sections in the market. There has been a constant growth in the man-made fibre with a wide variety of nylon and polyester filament yarn. I selected this company because I found that this organization is among the top companies in textile sector. Moreover, the appraisals used by them rate their employees in the best possible way. To analyze whether the performance appraisal method used in JCT LTD is efficient or not I developed an questionnaire which was fill by employees of different department and with the help of SPSS I concluded that they have efficiently running that appraisal in their company. *source-http://en.wikipedia.org/wiki/Performance_appraisal

) OBJECTIVES OF STUDY The basic objectives of the study is to learn the practical systems and procedures of performance appraisal system The objectives of the study can be summarized as: 1. To study the performance appraisal system of JCT Limited. 2. To understand the strategy adopted by the JCT Limited for their performance appraisal system and to find the place for betterment if any.

OBJECTIVES OF STUDY The basic objectives of the study is to learn the practical systems and procedures of performance appraisal system The objectives of the study can be summarized as: 1. To study the performance appraisal system of JCT Limited. 2. To understand the strategy adopted by the JCT Limited for their performance appraisal system and to find the place for betterment if any.

Research Methodology a. Research Design Exploratory research is a type of research conducted because a problem has not been clearly defined. Exploratory research helps determine the best research design, data collection method and selection of subjects. Exploratory research is used here in study as this study gives us information about how the employees are reacting to the performance appraisal system of the company. Sample Design ii. Sample Size The research includes a sample size of 160-collected convenience sampling. iii. Sampling Technique Convenience sampling Convenience sampling technique is used as there is a time and cost constraints iii. Sampling Area= Jalandhar. b. Data Collection i. Sources Primary Data The investigator conducting the research, by contrast, collects primary data. In primary data collection, you collect the data yourself using methods such as interviews and questionnaires. The key point here is that the data you collect is unique to you and your research and, until you publish, no one else has access to it. Secondary data Secondary data is data collected by someone other than the user. Common sources of secondary data for social science include censuses, surveys, and organizational records. Secondary data analysis saves time that would otherwise be spent collecting data, and often provides a larger and higher-quality database than would be feasible for any individual researcher to collect. For analysts of social and economic change, secondary data is usually essential, since it is impossible to conduct a new survey that can adequately capture past change. Data Analysis i. Statistical Tools-The statistical tools, which are used in this project, are Frequency Distribution , ANOVA and Factor Analysis. ii.

FREQUENCY DISTRIBUTION A. Understanding the objective of the performance appraisal system format followed in your company 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 3- Understanding objective of appraisal system Cumulative Frequency Valid Disagree Neutral Agree Strongly agree Total Missing Total System 51 12 74 23 160 11 171 Percent 29.8 7.0 43.3 13.5 93.6 6.4 100.0 Valid Percent 31.9 7.5 46.2 14.4 100.0 Percent 31.9 39.4 85.6 100.0

Analysis In this question it was analyzed that 76% of the employees who are working in JCT has clear understanding of the objective of the performance appraisal, which is conducted in the company whereas 46% of the employees still does not have any understanding of the objective of the performance appraisal. B. Performance appraisal system is carried out fairly in your organization 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 4- Fairness in appraisal system Frequency Valid Disagree Neutral Agree Strongly agree Total Missing Total System 32 32 84 12 160 11 171 Percent 18.7 18.7 49.1 7.0 93.6 6.4 100.0 Valid Percent 20.0 20.0 52.5 7.5 100.0 Cumulative Percent 20.0 40.0 92.5 100.0

Analysis In this question it was analyzed that 92% of the employees who are working in JCT agrees that the performance appraisal are fairly carried out in the company

C. According to you performance appraisal method is effective in assessing your performance 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 5- Effectiveness assessment of performance Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 4 35 27 70 24 160 11 171 Percent 2.3 20.5 15.8 40.9 14.0 93.6 6.4 100.0 Valid Percent 2.5 21.9 16.9 43.8 15.0 100.0 Cumulative Percent 2.5 24.4 41.2 85.0 100.0

Analysis In this question it was analyzed that 85% of the employees who are working in JCT agrees that the performance appraisal is an effective way to assess their performance in the company.

D. Appraisal system is constructive in enhancing your career/job 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 6- Enhance career opportunity Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 8 28 12 76 36 160 11 171 Percent 4.7 16.4 7.0 44.4 21.1 93.6 6.4 100.0 Valid Percent 5.0 17.5 7.5 47.5 22.5 100.0 Cumulative Percent 5.0 22.5 30.0 77.5 100.0

Analysis In this question it was analyzed that 77% of the employees who are working in JCT agrees that the performance appraisal is helping them to enhance the career opportunity in the company.

E. Appraisal system gives a good scope of feedback and counseling needed 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 7- Good scope of feedback and counseling Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 6 3 31 91 29 160 11 171 Percent 3.5 1.8 18.1 53.2 17.0 93.6 6.4 100.0 Valid Percent 3.8 1.9 19.4 56.9 18.1 100.0 Cumulative Percent 3.8 5.6 25.0 81.9 100.0

Analysis In this question it was analyzed that 82% of the employees who are working in JCT agrees that the performance appraisal is providing them feed back and counseling to improve their performance.

F. Appraisal system clearly defines what extra efforts you have made in your job 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 8- Reflect the extra efforts made during job Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 8 23 13 67 49 160 11 171 Percent 4.7 13.5 7.6 39.2 28.7 93.6 6.4 100.0 Valid Percent 5.0 14.4 8.1 41.9 30.6 100.0 Cumulative Percent 5.0 19.4 27.5 69.4 100.0

Analysis In this question it was analyzed that 70% of the employees who are working in JCT agrees that the performance appraisal is reflecting the extra efforts, which is made by them during the job. G. Performance appraisal should be constructed in such a way that it should communicate the job requirement or development needed in the job 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 9- Communication of job requirement Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 6 23 29 64 38 160 11 171 Percent 3.5 13.5 17.0 37.4 22.2 93.6 6.4 100.0 Valid Percent 3.8 14.4 18.1 40.0 23.8 100.0 Cumulative Percent 3.8 18.1 36.2 76.2 100.0

Analysis In this question it was analyzed that 65% of the employees who are working in JCT agrees that the performance appraisal is communicate the job requirement or development needed in the job.

H. Performance appraisal should be more transparent in terms of assessment 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 10- Transparency in appraisal system Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 8 4 34 68 46 160 11 171 Percent 4.7 2.3 19.9 39.8 26.9 93.6 6.4 100.0 Valid Percent 5.0 2.5 21.2 42.5 28.8 100.0 Cumulative Percent 5.0 7.5 28.8 71.2 100.0

Analysis In this question it was analyzed that 70% of the employees agrees and 45% of the employees strongly agrees that there is transparency in the appraisal system of JCT LTD.

I. The Training schedule constructed is according to the need identified during the appraisal system 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 11- Contraction of training schedule is according to the need identified in appraisal system Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 10 44 30 43 33 160 11 171 Percent 5.8 25.7 17.5 25.1 19.3 93.6 6.4 100.0 Valid Percent 6.2 27.5 18.8 26.9 20.6 100.0 Cumulative Percent 6.2 33.8 52.5 79.4 100.0

Analysis In this question it was analyzed that 45% of the employees who are working in JCT agrees that constructed of training schedule is according to the need identified during the appraisal system whereas same proportion of the employee dont agree to it. J. The Performance appraisal system is identifying both professional and behavior skill of an individual 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 12- Identification of both professional and behavioral skills Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 6 34 16 72 32 160 11 171 Percent 3.5 19.9 9.4 42.1 18.7 93.6 6.4 100.0 Valid Percent 3.8 21.2 10.0 45.0 20.0 100.0 Cumulative Percent 3.8 25.0 35.0 80.0 100.0

Analysis

In this question it was analyzed that 78% of the employees who are working in JCT agrees that performance appraisal system is identifying both professional and behavior skill of an individual.

K. The promotional policy is linked with the performance appraisal system 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 13- Linked promotional policy with the appraisal system Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree 45 Total Missing Total System 6 22 25 66 38 3 160 11 171 Percent 3.5 12.9 14.6 38.6 22.2 1.8 93.6 6.4 100.0 Valid Percent 3.8 13.8 15.6 41.2 23.8 1.9 100.0 Cumulative Percent 3.8 17.5 33.1 74.4 98.1 100.0

Analysis

In this question it was analyzed that 70% of the employees who are working in JCT agrees that performance appraisal system is linked with the performance appraisal system

L. The Rating scale used in the performance appraisal system is appropriate 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 14- Appropriate rating scale used in the appraisal system Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 4 14 24 80 38 160 11 171 Percent 2.3 8.2 14.0 46.8 22.2 93.6 6.4 100.0 Valid Percent 2.5 8.8 15.0 50.0 23.8 100.0 Cumulative Percent 2.5 11.2 26.2 76.2 100.0

Analysis In this question it was analyzed that 82% of the employees who are working in JCT agrees that the rating scale used in the performance appraisal system is appropriate. M. Should there be introduction of 360-degree appraisal system in any level of management 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Table 15- Introduction of 360degree Frequency Valid Strongly disagree Disagree Neutral Agree Strongly agree Total Missing Total System 11 43 17 83 6 160 11 171 Percent 6.4 25.1 9.9 48.5 3.5 93.6 6.4 100.0 Valid Percent 6.9 26.9 10.6 51.9 3.8 100.0 Cumulative Percent 6.9 33.8 44.4 96.2 100.0

Analysis In this question it was analyzed that 87% of the employees who are working in JCT agrees that there should be introduction of 360 degree in their appraisal system for more efficiency in conducting the appraisal. II. ONEWAY ANOVA: (at 5% level of significance)

Table 16- ANOVA Sum of Squares Understanding objective of appraisal Between Groups Within Groups Total Fairness in appraisal system Between Groups Within Groups Total Effectiveness assessment of performance Enhance career Between Groups Within Groups Total Between Groups Within Groups Total Reflect the extra efforts Between Groups made in the job Within Groups Total Good scope of feedback and counseling Communication of job requirement Between Groups Within Groups Total Between Groups Within Groups Total Transparency in appraisal system Between Groups Within Groups Total Construction of training Between Groups schedule according to the need identified in the appraisal system Identification of both professional and behavioral skills Linked promotional policy Within Groups Total Between Groups Within Groups Total Between Groups Within Groups 5.571 181.673 187.244 5.762 122.138 127.900 13.693 168.151 181.844 22.637 189.763 212.400 8.112 210.663 218.775 10.765 111.010 121.775 14.661 179.433 194.094 12.354 153.146 165.500 16.658 229.685 246.344 2.491 204.884 207.375 76.846 5136.929 df 2 157 159 2 157 159 2 157 159 2 157 159 2 157 159 2 157 159 2 157 159 2 157 159 2 157 159 2 157 159 2 157 38.423 32.719 1.174 .312 1.245 1.305 .954 .387 8.329 1.463 5.693 .004 6.177 .975 6.332 .002 7.330 1.143 6.414 .002 5.382 .707 7.612 .001 4.056 1.342 3.023 .052 11.319 1.209 9.364 .000 6.847 1.071 6.392 .002 2.881 .778 3.703 .027 Mean Square 2.785 1.157 F 2.407 Sig. .093

i. Understanding the objective of the performance appraisal system format followed in your company 1-strongly disagree agree Null hypothesis There is no difference between the means of male and female with respect to understanding the objective of the performance appraisal system. Alternate hypothesis - that there is a difference between the means of male and female with respect to understanding the objective of the performance appraisal system Tabulated Value- 3.00 Observed Value- 2.407 Level Of Significant- 5% F(tab) >F(cal) Conclusion- There is difference between the means of male and female with respect to understanding the objective of the performance appraisal system that JCT LTD should make efforts to understand the need of appraisal in the company 2-disagree 3-neutral 4-agree 5-strongly

ii. Performance appraisal system is carried out fairly in your organization 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Null hypothesis There is no difference between the means of male and female with respect to fairly carrying out the performance appraisal system in the company. Alternate hypothesis - that there is a difference between the means of male and female with respect to fairly carrying out the performance appraisal system in the company Tabulated Value- 3.00 Observed Value- 3.703

Level Of Significant- 5% F(tab) <F(cal) Conclusion- There is no difference between the means of male and female with respect to fairly carrying out the performance appraisal system in the company this suggest that the appraisal system which is been used in JCT LTD is very efficient.

iii. According to you performance appraisal method is effective in assessing your performance 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Null hypothesis There is no difference between the means of male and female with respect to effective assessment of the performance through performance appraisal. Alternate hypothesis - There is a difference between the means of male and female with respect to effective assessment of the performance through performance appraisal Tabulated Value- 3.00 Observed Value- 6.392 Level Of Significant- 5% F(tab) <F(cal) Conclusion- There is no difference between the means of male and female with respect to effective assessment of the performance through performance appraisal this suggest that the appraisal system which is been used in JCT LTD is very efficient.

iv. Appraisal system is constructive in enhancing your career/job 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Null hypothesis There is no difference between the means of male and female with

respect to constructive in enhancing the career/job through appraisal system . Alternate hypothesis - There is a difference between the means of male and female with respect to constructive in enhancing the career/job through appraisal system Tabulated Value- 3.00 Observed Value- 9.364 Level Of Significant- 5% F(tab) <F(cal) Conclusion- There is no difference between the means of male and female with respect to constructive in enhancing the career/job through appraisal system this suggest that the appraisal system which is been used in JCT LTD is very efficient. v. Appraisal system clearly defines what extra efforts you have made in your job 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Null hypothesis There is no difference between the means of male and female with respect to defining the extra efforts that they have made in their jobs. Alternate hypothesis - There is a difference between the means of male and female with respect to defining the extra efforts that they have made in their jobs Tabulated Value- 3.00 Observed Value- 3.023 Level Of Significant- 5% F(tab) <F(cal) Conclusion- There is no difference between the means of male and female with respect to defining the extra efforts that they have made in their jobs this suggest that the appraisal system which is been used in JCT LTD is very efficient.

vi. Appraisal system gives a good scope of feedback and counseling needed 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Null hypothesis There is no difference between the means of male and female with respect to good scope of feedback and counseling provided through appraisal system. Alternate hypothesis - There is a difference between the means of male and female with respect to good scope of feedback and counseling provided through appraisal system

Tabulated Value- 3.00 Observed Value- 7.612 Level Of Significant- 5% F(tab) <F(cal) Conclusion- There is no difference between the means of male and female with respect to good scope of feedback and counseling provided through appraisal system this suggests that the appraisal system, which is been used in JCT LTD, is very efficient.

vii. Performance appraisal should be constructed in such a way that it should communicate the job requirement or development needed in the job 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Null hypothesis There is no difference between the means of male and female with respect to identifying the job requirement or development needed in the job . Alternate hypothesis - There is a difference between the means of male and female with respect to identifying the job requirement or development needed in the job Tabulated Value- 3.00 Observed Value- 6.414 Level Of Significant- 5% F(tab) <F(cal) Conclusion- There is no difference between the means of male and female with respect to identifying the job requirement or development needed in the job this suggests that the appraisal system which is been used in JCT LTD is very efficient.

viii. Performance appraisal should be more transparent in terms of assessment 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Null hypothesis There is no difference between the means of male and female with respect to more transparency in the terms of assessment of performance appraisal. Alternate hypothesis - There is a difference between the means of male and female

with respect to more transparency in the terms of assessment of performance appraisal Tabulated Value- 3.00 Observed Value- 6.332 Level Of Significant- 5% F(tab) <F(cal) Conclusion- There is no difference between the means of male and female with respect to more transparency in the terms of assessment of performance appraisal this suggests that the appraisal system which is been used in JCT LTD is very efficient.

ix. The Training schedule constructed is according to the need identified during the appraisal system 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree Null hypothesis There is no difference between the means of male and female with respect to construction of the training schedule according to the need identified during the appraisal system. Alternate hypothesis - There is a difference between the means of male and female with respect to construction of the training schedule according to the need identified during the appraisal system. Tabulated Value- 3.00 Observed Value- 5.693 Level Of Significant- 5% F(tab) <F(cal) Conclusion- There is no difference between the means of male and female with respect to construction of the training schedule according to the need identified during the appraisal system this suggests that the appraisal system which is been used in JCT LTD is very efficient.

x. The Performance appraisal system is identifying both professional and behavior skill of an individual

1-strongly disagree

2-disagree

3-neutral

4-agree

5-strongly agree

Null hypothesis There is no difference between the means of male and female with respect to identifying both professional and behavior skill of an individual through performance appraisal. Alternate hypothesis - There is a difference between the means of male and female with respect to identifying both professional and behavior skill of an individual through performance appraisal. Tabulated Value- 3.00 Observed Value- 0.954 Level Of Significant- 5% F(tab) >F(cal) Conclusion- There is difference between the means of male and female with respect to identifying both professional and behavior skill of an individual through performance appraisal that JCT LTD should make efforts to understand the need of appraisal in the company .

xi. The promotional policy is linked with the performance appraisal system 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Null hypothesis There is no difference between the means of male and female with respect to linkage of promotional policies. Alternate hypothesis - There is a difference between the means of male and female with respect to linkage of promotional policies Tabulated Value- 3.00 Observed Value- 1.174 Level Of Significant- 5% F(tab) >F(cal) Conclusion- There is difference between the means of male and female with respect to linkage of promotional policies that JCT LTD should make efforts to understand the need of appraisal in the company

xii. The Rating scales used in the performance appraisal system is appropriate 1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree

Null hypothesis There is no difference between the means of male and female with respect to appropriate rating scales used in performance appraisal. Alternate hypothesis - There is a difference between the means of male and female with respect to appropriate rating scales used in performance appraisal Tabulated Value- 3.00 Observed Value- 6.682 Level Of Significant- 5% F(tab) <F(cal) Conclusion- There is no difference between the means of male and female with respect to appropriate rating scales used in performance appraisal this suggest that the appraisal system which is been used in JCT LTD is very efficient.

FACTOR ANALYSIS

Table 17- KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. Bartlett's Test of Sphericity Approx. Chi-Square df Sig. .654 899.490 105 .000

Analysis In this factor analysis the KMO measure of sampling adequancy is 0.654 this shows there is a good association between the factors affecting the performance appraisal. Communalities: Initial vs. Extraction Communalities - This is the proportion of each variable's variance that can be explained by the principal components (e.g., the underlying latent continua). It is also noted as h2 and can be defined as the sum of squared factor loadings.

Table 18- Communalities Initial Understanding objective of appraisal system Fairness in appraisal Effectiveness assessment of performance Enhance career Reflect the extra efforts made during the job Good scope of feedback and counseling Communication of job requirement Transparency in system Contraction of training schedule according to the appraisal Identification of both skills Linked promotional policy Appropriate rating scale Introduction of 360degree Biasness in appraisal 1.000 1.000 1.000 1.000 1.000 Extraction .678 .389 .501 .750 .312

1.000

.557

1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000

.679 .186 .346 .028 .505 .566 .588 .652

Table 18- Communalities Career and succession planning in the company policy 1.000 .318

Percentage of Variance Accounted For by the Three Components Model


Table 19- Total Variance Explained Rotation Sums of Squared Com pone nt 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Total 3.105 2.260 1.689 1.582 1.495 .968 .844 .709 .602 .469 .414 .329 .270 .158 .106 Initial Eigenvalues % of Variance 20.703 15.064 11.258 10.548 9.965 6.453 5.625 4.730 4.015 3.126 2.763 2.194 1.801 1.050 .705 Cumulative % 20.703 35.767 47.024 57.573 67.538 73.991 79.616 84.346 88.361 91.486 94.249 96.444 98.245 99.295 100.000 Total 3.105 2.260 1.689 Extraction Sums of Squared Loadings % of Variance 30.703 25.064 21.258 Cumulative % 30.703 35.767 47.024 Total 2.861 2.374 1.819 Loadings % of Variance 29.071 15.827 12.126 Cumulative % 19.071 34.898 77.024

About 77.024 % of the total variance in the 15 variables is attributable to the first three components. Also I can judge how well the three-component model describes the original variables, by examine the above table and concluded that Component 1 explains a variance of 2.861, which is 19.071% of total variance of 15, Component 2 explains a variance of 2.374, which is 34.898% of total variance. Similarly, same kind of conclusion can be drawn for other components.

Component Matrix before Rotation


Table 20- Component Matrix Component 1 Understanding objective of appraisal system Fairness in appraisal Effectiveness assessment of performance Enhance career Reflect the extra efforts Good scope of feedback and counseling Communication of job requirement Transparency in system Construction of training schedule Identification of both skills Linked promotional policy Appropriate rating scale Introduction of 360degree Biasness in appraisal Career and succession planning in the company policy -.523 .567 -.030 .570 .467 -.671 2 .211 .258 .702 -.643 .256 -.314 3 .600 -.026 -.084 .106 -.167 .091

-.120 .420 .534 .013 .234 .483 .154 -.739 .427

-.394 .005 -.214 .138 .220 .544 -.599 .319 .230

-.714 -.098 .125 .095 .634 -.190 .454 -.059 .287

Rotated Component Matrix


Table 21- Rotated Component Matrix Component 1 Understanding objective of appraisal system Fairness in appraisal -.562 .602 2 -.210 .042 3 .564 .158

Table 21- Rotated Component Matrix Effectiveness assessment of performance Enhance career Reflect the extra efforts Good scope of feedback and counseling Communication of job requirement Transparency in system Contraction of training schedule Identification of both skills Linked promotional policy Appropriate rating scale Introduction of 360degree Biasness in appraisal Career and succession planning in the company policy .259 .230 .555 -.734 -.618 .826 -.051 -.022 .229 -.119 .020 -.137

-.036 .400 .352 .033 .096 .684 -.223 -.514 .374

.024 .156 .464 -.074 .144 -.287 .716 -.623 .107

-.823 -.035 .081 .147 .689 .128 .160 -.002 .408

FACTOR 1
Fairness in appraisal Effectiveness assessment of performance Reflect the extra efforts made during the job Transparency in system Appropriate rating scale

ROTATED COMPONENT VALUE


.602 .259

.555

.400 .684

FACTOR 2
Enhance career

ROTATED COMPONENT VALUE


.826

Good scope of feedback and counseling Communication of job requirement Construction of training schedule Introduction of 360degree

-.022

.024 .464 .716

FACTOR 3
Understanding objective of appraisal system Identification of both skills Linked promotional policy Biasness in appraisal Career and succession planning in the company policy

ROTATED COMPONENT VALUE


.564

.147 .689 -.002 .408

Analysis 1. Factor 1- This factor has emerged as a most important determinant of research with a total variance of 2.5. Major elements of this factor include appropriate rating scale (.684), introduction of 360 degree (.716) etc. During my research I find that the appraisal system that is used is transparent and properly rated. 2. Factor 2- this factor has emerged as a most important determinant of research with a total variance of 2.008. Major elements of this factor include enhance career (.826), fairness in appraisal (.826) etc. During my research I find that the appraisal system that is used is efficiency of the performance appraisal used in JCT LTD 3. Factor 3-This factor has emerged as a most important determinant of research with a total variance of 1.806. Major elements of this factor include linked promotional policy (.689), understanding objective of appraisal system (.564) etc. During my research I find that the appraisal system that is used is efficiency of the performance appraisal used in JCT LTD

5) FINDINGS AND CONCLUTION After analyzing the questionnaire fill by the employees of JCT LTD, the findings of this project are as follows: 76% of the employees who are working in JCT have clear understanding of the objective of the performance appraisal, which is conducted in the company. 92% of the employees who are working in JCT agree that the performance appraisal is fairly carried out in the company. 85% of the employees who are working in JCT agree that the performance appraisal is an effective way to assess their performance in the company. 87% of the employees who are working in JCT agree that there should be introduction of 360 degree in their appraisal system for more efficiency in conducting the appraisal. 70% of the employees agree and 45% of the employees strongly agree that there is transparency in the appraisal system of JCT LTD. 70% of the employees who are working in JCT agree that performance appraisal system is linked with the performance appraisal system.

6) RECOMMENDATIONS AND SUGGESTIONS The various limitations that are observed through study the performance appraisal system of JCT Limited and through questionnaire are as follows: The appraisal system is performed in JCT LTD is annual basis so I suggest them to do it in quarterly basis. JCT should make the employees understand the objectives of doing performance appraisal. I would also suggest JCT to introduce 360 degree appraisal system in their company for managerial cadets.

7) BIBLIOGRAPHY a. SITES The sites which are referred while making the project is as follows:i. ii. http://www.jct.co.in/company_history.asp http://en.wikipedia.org/wiki/Performance_appraisal

b. BOOKS The various books which are considered during the projects are as follows:i. Rao T.V. Performance management and appraisal systems Response books a division of sage publications, 2008, pages- 4 to 45. ii.

ANNEXURES QUESTIONNAIRE Hello. I am the student from INSTITUTE OF MANAGEMENT STUDIES, GHAZIABAD. I am currently conducting a study of Performance Appraisal Technique in JCT ltd. I sincerely hope you can spare few minutes to answer following questions and assure you that all the information will be used for academic purpose only and will be kept confidential. PART A 1) Please specify age group you belong to a. 18-24 b. 25-34 c. 35-44 e. 55-64

d. 45-54

2) No of years working in this organization: a. 0-3 b.4-7 c.8-11 3) Department, you belong to a. Human Resource b. Marketing 4) Gender a. Male b. Female PART-B 1. Are you aware of the performance appraisal system and when it is carried out? A) YES B) NO 2. How many times the performance appraisal system should be followed in a year? A) Annually B) Twice a year C) Thrice a year 3) Please tick the appropriate box:1-strongly disagree 2-disagree 3-neutral 4-agree 5-strongly agree 1 2 3 4 5 c. Finance d. Production

s.no. Variables 1 Understanding the objective of the performance appraisal system format followed in your company 2 Performance appraisal system is carried out fairly in your organization 3 According to you performance appraisal method is effective in assessing your performance 4 Appraisal system constructive in enhancing your career/job 5 Appraisal system clearly defines what extra efforts you have made in your job 6 Appraisal system gives a good scope of feedback and counseling needed 7 Performance appraisal should be constructed in such a way that it should communicate the job requirement or development needed in the job 8 Performance appraisal should be more transparent in terms of assessment 9 The Training schedule constructed is according to the need identified during the appraisal system 10 The Performance appraisal system is identifying both professional and behavior skill of an individual 11 The promotional policy is linked with the performance appraisal system 12 The Rating scale used in the performance appraisal system is appropriate 13 Should there be introduction of 360 degree appraisal system in any level of management 14 Is the appraiser show some kind of biasness while conducting the appraisal system

15 Are the issues like career planning and succession planning a part of company's policy

Das könnte Ihnen auch gefallen