14-04-2015, 02:14 PM
Criteria for upgrading and promoting employees. Performance parameters. Appraisal form.
Shashi
Email: gargshashibhushan[at]gmail.com
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performance appraisal at icici bank ppt
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Criteria for upgrading and promoting employees. Performance parameters. Appraisal form.
Shashi
Email: gargshashibhushan[at]gmail.com
30-03-2017, 12:58 PM
ICICI Bank (formerly the Indian Investment and Credit Corporation) is India's largest private bank by market capitalization and the second largest in terms of assets. Total assets of Rs. 3,634.00 billion (US $ 81 billion) as of March 31, 2010 and after-tax profit of Rs. 40.25 billion (US $ 896 million) for the year ended March 31, 2010. The Bank also has a network of 2528 branches and nearly 6000 ATMs in India and presence in 19 countries, as well as about 24 million Of customers. Its total number of employees is approximately 74,056. ICICI Bank offers a wide range of banking products and financial services to corporate and retail clients through a variety of distribution channels and specialized affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset Management. ICICI Bank is also the largest issuer of credit cards in India.
Organizational structure
The structure of the organization is divided into five main groups: retail banking, wholesale banking, asset management and project finance, international business and corporate center.
The Retail Banking Group comprises the retail assets business of ICICI Bank, which includes various retail credit products, retail liabilities and rural micro-banking.
The focus of our research has been on the retail banking group. This group is divided into four zones viz. East, west, north and south.
Performance evaluation at ICICI Bank
ICICI BANK performance evaluation environment
The bank is using the Management by Objectives (MBO) method. In this method, the subordinate in consultation with the supervisor determines the short-term goals followed by the specific actions he has to carry out. Goals are finally set and action oriented. The goals set are specific, measurable, achievable, revisable and time-bound, and, most importantly, used to align with the organization's goal. At the end of a specified time period, the activities are reviewed jointly by the subordinate and his supervisor. Depending on the performance of the subordinate, the objectives are modified or redesigned for the next period of time. The MBO is, therefore, a performance oriented system.
A well thought out MBO system provides multiple benefits. It establishes a link between the performance of the individual and the bank. It is easy to implement because those who make the plan also participate in its creation. Each employee realizes the task that has to be done in the bank. This leads to better utilization of capacity and talent. Promotes better communication and information exchange. It provides guidelines for self-assessment, as well as for evaluation by the superior against established tasks and goals. Facilitates guidance and counseling.
Effective components of the ICICI PA system
- Performance planning (including goal setting / employee goals)
- Communication in progress
- Data collection, observation and documentation
- Performance evaluation meetings
- Diagnosis and Performance Coaching
A) What task is the individual expected to do?
B) How well has the individual done the homework?
C) How can you improve your performance?
D) Your reward for doing well.
From the banking standpoint, a Performance Evaluation must generate labor information, improve efficiency and effectiveness as a control mechanism and provide a rational compensation structure. In summary, the evaluation system establishes and supports the principle of accountability in the absence of bank failure as the only possible outcome. Finally, speaking of mutual goals, emphasis is placed on growth and development, harmony, effectiveness and profitability of the bank.
The ICICI has adopted a "performance evaluation" model using best-to-worst classification methods to identify those with poor performance. The poor who have been assigned are given a period of time during which they have to show an improvement in their performance. In cases where the employee does not improve his performance he is asked to leave the organization gracefully and is offered a compensation package. If the employee refuses to leave, then his service is terminated and no compensation is offered. This system is called "hierarchy strategy". Proponents of this system feel that it continually motivates employees to improve their performance since no one wants to be included in the poor performance band. But the flip side of this strategy is that employees become too competitive and team spirit is not nurtured.
Effective banks are not simply based on investment and returns, but rather on the quality of the workforce, their commitment to the organization's goals and the investments made to attract training and retain the superior human capital. An integrated performance management system is essential to getting the best from your people. Employee performance is linked to the performance of the bank. This helps achieve the organizational goal and creates a culture of performance in the bank. It fosters invention, creativity and diversity of perspectives. Employees act as a brand of a bank.
The ICICI has adopted a "performance evaluation" model using best-to-worst classification methods to identify those with poor performance. The poor who have been assigned are given a period of time during which they have to show an improvement in their performance. In cases where the employee does not improve his performance he is asked to leave the organization gracefully and is offered a compensation package. If the employee refuses to leave, then his service is terminated and no compensation is offered. This system is called "hierarchy strategy". Proponents of this system feel that it continually motivates employees to improve their performance since no one wants to be included in the poor performance band. But the flip side of this strategy is that employees become too competitive and team spirit is not nurtured.
Effective banks are not simply based on investment and returns, but rather on the quality of the workforce, their commitment to the organization's goals and the investments made to attract training and retain the superior human capital. An integrated performance management system is essential to getting the best from your people. Employee performance is linked to the performance of the bank. This helps achieve the organizational goal and creates a culture of performance in the bank. It fosters invention, creativity and diversity of perspectives. Employees act as a brand of a bank.
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