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Organizational Behavior

PGeMBA-Insurance

Organizational Behavior

Job Appraisal – JP Morgan Chase India Pvt. Ltd. Project By:Mr. Kaushik Kopalle PGeMBA – Insurance Roll No – IN0827 MET Ph No. – 9892188699
Certificate
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A study of “Performance Appraisal” under MET AMDC (course: PGeMBA - Insurance) done by Mr. Kaushik Kopalle, Roll No –IN0 827.

Index
Synopsis.......................................................................... .....................4
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Objective......................................................................... .....................5 Acknowledgement........................................................... .................6 Performance Appraisal.......................................................................... .....................7 Need of Performance Appraisal.......................................................................... ......................9 Methodology……………………........................................... ......10 Conclusion....................................................................... ...................15 Bibliography…………………………..................................... .16 Annexure…………………………………………………17

Prof. Cabral

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Synopsis

This study was conducted to understand Performance Appraisal and its impact on the productivity. The case study chosen is Performance Appraisal in JP Morgan Chase India Pvt. Ltd. The method used was to interview Mr. Mario D’Souza who is the Manager - HR at JP Morgan which was then converted into an easy to prepare the report. A detailed explanation of the process is provided.

Prof. Cabral

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Objective
The objective of the study is to understand the various factors that affect Performance Appraisal. It is to understand “Is Performance Appraisal important?” The activities like training programs, process knowledge and employee efficiency are necessary for a good appraisal process. The project also highlights the kinds of ratings received and their relationships with kind of Bonuses received and Final Appraisal.

Acknowledgement

Prof. Cabral

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I would like to express my gratitude to Mr. Mario D’Souza, (Manager HR- JP Morgan India Pvt. Ltd) for his valuable contribution & time for interacting with me and contributing his valuable responses. A special thanks to Prof. D. I. Cabral for encouraging me and guiding me throughout my study. This opportunity also gave me a chance to understand the significance of training in this competitive environment where even a small mistake could lead to great losses. It is very important to understand this in the current industry scenario. This project is a combined effort and would not have been possible without the help of those who contributed towards it directly or indirectly.

Performance appraisal
Meaning and definition of performance appraisal and its objectives In simple terms, appraisal may be understood as the assessment of an individual’s performance in a systematic way, the performance being measured against such factors as job knowledge, quality, and quantity of output, initiative, leadership abilities, supervision, dependability, co-operation, judgment, versatility, health, and the like. Assessment should not be confined to past performance alone.
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Potentials of the employee for future performance must also be assessed.

 DEFINITIONS

OF

PERFORMANCE APPRAISAL:

A formal definition of performance appraisal is: “It is the systematic evaluation of the individual with respect to his or her performance on the job and his or her potential for development.” A more comprehensive definition is: “Performance appraisal is a formal, structured system of measuring and evaluating an employee’s job related behaviors and outcomes to discover how and why the employee is presently performing on the job and how the employee can perform more effectively in the future so that the employee, organization, and society all benefit.” The second definition includes employee’s behavior as part of the assessment. Behavior can be active or passive. Either way behavior affects job results. The other terms used for performance appraisal are: performance rating, employee assessment, employee performance review, personnel appraisal, performance evaluation, employee evaluation, and merit rating. In a formal sense, employee assessment is as old as the concept of management, and in an informal sense, it is probably as old as mankind. Nor performance appraisal is done in isolation. It is linked to job analysis.

Prof. Cabral

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T ERMS

USED IN

P ERFORMANCE A PPRAISAL :

(1) Performance Appraisal: It is the assessment of an

individual's performance in a systematic manner in relation to the job assigned.

(2) Appraisal Process: It involves various steps need to be

taken in order to complete the appraisal work in an orderly manner.

(3) Ratee: Ratee may be defined as the individual, work

group, division or organization used for appraisal purpose.

(4) Rater:

Rater is immediate supervisors, specialists from HR department, subordinates, peers, clients or committees to whom the responsibility of appraisal is assigned.

(5) Performance Interview: It is one step in appraisal

process. After completion of appraisal work, performance interview is arranged. Here, the raters should discuss and review the performance with the ratees, so that they will receive feedback for their information and self development. Also called post appraisal interview.

Prof. Cabral

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 Need For Performance Appraisal
(1) U n d e r s t a n d i n g e m p l o y F o r: u n d e r s t a n d i n g t h e ee

q u a l i t i e s , m e r i t s a n d l i m i t a t oo nasn e m p l o y e e w o r k i n g if i n t h eo r g a n i z a t i o. n o t h e r m o n e t a r y b e n e f i t s t o mn lo y e e . eap

(2) M o n e t a r y b e n e f i t s :r g i v i n g a n n u a l i n c r e m e n t a n d Fo

(3) P e r s o n n e l p o l i c i eF o r d e c i d i n g p r o m o t io n s , t r a n s f e r s s:

a n d d e m o t i o n s o f e m p lo yw e s k i n g i n a o r g a n i z a t i o. n eor n t r a i n i n g a n d m a n a g e m d n v e l o p m e n t p r o g rs. m eet a

(4) T r a i n i n g a n d d e v e l o p m e n t : s e l e c t i n g e m p l o y e e s f o r For

(5) E m p l o y e e g u i d a n cF o:r p r o v i d i n g g u i d a ntc e a n e o

e m p l o y e e t o d e v e l o p q us l i t i e s , a b i l i t i e s a n d w o r k hi a p erfo rm a n ce. m an ag em ent.

(6) R e s e a r c h :F o r c o n d u c t i n g r e s e a r c h o n p e r s o n n e l

(7) H i g h e r m o r a l eP e r f o r m a n c e p p r a i s ails n e e d e d f o r : a

r a i s i n g t h e m o r a l e eom p l o y e e s . f

(8) H i g h e f f i c i e n c y o r r a i s i n g t h e e f f i c i e n c y o f t h e w h o l e F:

o rg a n iz a tio n y g iv in g r o m o tio n s (h ig h e r p o s itio n s ) to b p m o s t c o m p e te n t e m p lo y e e s a n d a ls o b y g iv in g
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o p p o rtu n itie s to a ll e m p lo y e e s fo r th e ir s e lf im p ro v e m e n t a n d d e v e lo p m e n t.

M e t h o d o lo g y
P e r f o r m a n c A p p r a i s a l J-P M o r g a n C h a s e I n d i a P v t . e In d ia L td .
T h e P e r f o r m a n c e A p p r a i sy sl t e m c o v e r e d i n t h i s p r o j e c t i s Sa p e rta in in g to th e D e riv a tiv e s C o n firm a tio n s D e p a rtm e n t o f JP M o rg a n C h a s e In d ia P v t. Ltd .

 P e rfo rm a n c e A p p ra is a l is d o n e in 3 s ta g e s :
1) O b j e c t i v e e t t i n g T h e o b j e c t i v e s s e t w i l l b e d i f f e r e n t f o r s :

d if f e r e n t t e a m s a s t h e ir r e s p e c t iv e p r o c e s sh e. A t tes b e g i n n i n g o f t h e a r J a n / F e b )e v e r ye m p l o y e es g i v e n a ye ( i s e t o f o b je c tiv e s d e p e n d in g u p o n w h ic h te a m d o e s h e b e lo n g t o . H e r e t h e i m m e d i a t e s u p e r i o r d e s c r i b e s a s tt o hw h a t e re s p o n s ib ilitie s w ill a n d w h a t is e x p e c te d o u t o f th a t be e m p l o y e e d u r i n g t h e y e a re o b j e c t i v e s a r e s e t b y t h e Th . i m m e d i a t e s u p e r ia lro n g w i t h s u p e r i o r ’ s m a n a g e r o s e p a ra t e ly fo r h is t e a m in a n in d iv id u a l m e e t in g .

Prof. Cabral

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2) M i d - Y e a r e v i e w T h i s i s d o n e d u r i n g t h e p e r i o d o f :

J u n e / J u lyO n c e y o u r o b je c t iv e s h a v e b e e n s e t , y o u r . p e r f o r m a n c e t i l l t h e m i d - y e a r r e v i e w i s m o nIift o he d . tre p e rfo r m a n c e o f t h e e m p lo y e e is d e v ia tin g fro m t h e s t a n d a rd o b j e c t i v e st,h e n t h e i m m e d i a t e s u p e r i o r t r i e s t o f i n d o u t a s t o w h yt h e e m p l o y e e nso t p e r f o r m i nu p t o t h e i g e x p e c t a t i o n s . h e t h e r h e n e e d s s o m e k i n d o f t r a i n img , W so n e m o r e p r a c t i c e e tIc . t h e p e r f o r m a n c e i s a s p e r t h e f o b j e c t i v e st,h e n t h e e m p l o y e e i s t o l d t h a t h e i s o n t h e r i g h t t r a c k .W h a t e v e r m a y b e t h e k i n d o f p e r f o r m a n c e i t i s c l e a r l y c o m m u n ic a te d to th e e m p lo y e e s o th a t th e re is c o m p le te t r a n s p a r e n c yE v e r y m i n u t e d e t a i l s o f t h e e m p l o y e e ’ s w o r k – ? g o o d / b a d i s c o n s i d e r e d .e o b j e c t i v e s a r e s e t b y t h e Th s u p e rio r in th e a p p ra is a l fo rm w h ic h is g iv e n to th e e m p l o y e e d u r i n g t h e m i d - y e a r r e vn etw .e a p p r a i s a l f o r m Ii h t h e e m p l o y e e s h a v e t o f i l l i n t h e i r a c h i e v e mneyn t s , a s i g n i f i c a n c o n t r i b u t i o n t o t h e t e a m e tn c e t h i s i s d o n e , t O c. th e a p p ra is a l fo rm is ta k e n b a c k .
3) F i n a lA p p r a i s a lT h i s i s d o n e d u r i n g t h e m o n t h o f :

D e c e m b e rT h i s i s t h e m o s t i m p o r t a n t p a t h e fe n t i r e . rt o a p p r a i s a l p r o c e sH . r e y o u r e n t i r e y e a r ’ s p e r f o r m a n c e i s se e v a l u a t e d . T h i s d s n e b ye v a l u a t i n g a s t o t h e d e g r e e t o io w h i c h y o u h a v e a c h i e v e d y o u r o b j e c Oi n ets .e b a s i s o f t v h th is e v a lu a tio n e v e ry e m p lo y e e is g iv e n a C e rta in R a tin g .

Prof. Cabral

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R a t i n g gi v e n a r e o f 3 t y p : s s e

1) E x c e e d s x p e c t a t i o n s h i s r a t i n g i s g i v e n t o t h o s e E : T

e m p lo y e e s w h o h a v e p e rfo rm e d e x c e e d in g ly w e ll d u rin g t h e e n t i r e y e aT .h e y h a v e d o n e t h e i r B u s i n e sU sa s l r s ua (B A U ) w i t h l e a s t o r a l m o s t n o e.r T o r ss e e m p l o y e e s r he h a v e e n tire ly e x c e e d e d th e e x p e c ta tio n s o f th e M a n a g e m e n t .h e y h a v e s u r p a s s e d t h e o b j e c t i v e s s e t f o r T th e m b y th e ir e x c e lle n t p e rfo rm a n c e .
2) M e e t sE x p e c t a t i o n s h i s r a t i n g i s g i v e n t o t h o s e : T

e m p l o y e e s w h o h a v e m e t t h e o b j e cstev efs r t h e m . it o M e e ts E x p e c ta tio n s is o f 3 ty p e s : M - 1: H i g h e r d e g r e e o f m e e t s e x p e c t a tGo v e n t o t h o s e i i ns. e m p lo y e e s w h o h a v e o n ly m e t th e o b je c tiv e s . M -2 : S e c o n d g r a d e o f M e e t s E x p e c t a tTo ns .r a t i n g i hi s g iv e n to A v e ra g e p e rfo rm e rs in th e te a m . M -3 : L o w e s t d e g r e e o f M e e t s E x p e c t a tGo v e n t o t h o s e i i ns. e m p l o y e e s w h o s e p e r f o r m a n c e i s b e le r a g . av ow e
3) N e e d sI m p r o v e m e n t h i s i s t h e l o w e s t r a t i n g g i v e n t o : T

a n e m p lo y e et is g iv e n to a n e m p lo y e e w h o s e I. p e r f o r m a n c e w a s v e r y p o o r d u r i n g t h eI fy s o m e o n e ear. g e t s a N e e d I m p r o v e m e n t , ti h’e n n i n d i c a t i o n t h a t h e t sa n e e d s to im p ro v e h is p e rfo rm a n c e d ra s tic a lly . A s p e r t h e H R P o l i c y o f J P M o r ghaan e ,a p e r s o n w h o C s g e t s N e e d s I m p r o v e m ea st h i s r a t i n g f o r c o n s e c u t i v e l y n 2 y e a rs , th e n h e is a s k e d to le a v e th e c o m p a n y . D e t e r m iin t h e k i n d o f r a t i n g d o e s n o t o n l y ng d e p e n d o n t h e e m p l o y e e s P r o c e s s P e r f o r m a n c e .e r e B ut th
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a re m a n y fa c to rs w h ic h a re c o n s id e re d e s s e n tia l w h ile g i v i n g a r a t i n g .h e y a r e : T 1 ) H o w m a n y tim e s in th e y e a r th e e m p lo y e e h a s tu rn e d u p la te to o ffic e . 2) D o e s h et a k e t h e i n i t i a t i v e i n t r a i n i n g t h e jn en e-d ? oi w 3) D o e s h e c o n t r i b u t e i n e x t r a - c u r r i a u t av i t i e s o(t h e r cc li r th a n b u s in e s s re la te d ) th e te a m . for 4 ) W h e t h e r t h e e m p lo y e e is a T e a m F a c ilit a t o r. 5) I f t h e r e i s s o m e d e t a i l w h i c h t h e e m p l o y e e h a s f o u n d o u t w h ic h m ig h t h a v e a s ig n ific a n t im p a c t o n th e b u s in e s s , d o e s h e b rin g it to th e n o tic e o f th e s u p e rio r a nd d i s c u s s i t w i t h p e e r s f o r bte te e r m e n t o f t h e h t t e a m w h i c h i nu d e s u p d a t i n g o f tS t a n d a r d l c he Op e r a t i n g P r o c e d u r ( S O P .) es 6) T h e k i n d o f r a t i n g a n e m p l o y e e g e t s d u r i n g a y e a r a l s o d e te rm in e s h is e lig ib ility fo r a n In te rn a l Jo b P o s tin g ( I J P) w h i c ha l s o i n c l u d eG L O B A L M O B I L I.T Y p e r J P s As M o r g a n H R P o l i ca n e m p l o y e e i s c o n s i d e r e d f o r a n I J P y, o n l y i f h e g e t s a m i n i m u m r a t i n g eo ft s M e E x p e c t a t i o n(sM , M 2 o r M 3 d u r i n g t h e y e a r . ) 7) A l s o w h e n t h e e m p l o y e e i s r e s i g n i n g f r o m t h e c o m p a n y , th e m a n a g e m e n t & H R s e e h is ra tin g o f P e rfo rm a n c e A p p ra is a l. If h e h a s g o t a ra t in g o f E X C E E D S o r h ig h e r e n d o f M E E T p e c t a t i o n ( M 1, M 2 ) ,t h e n c o n s i d e r a b l e Ex s e ffo rt s a re m a d e to re t a in t h a t e m p lo y e e . T h e m a in re a s o n fo r c o n d u c tin g th e P e rfo rm a n c e A p p ra is a l e x e rc ise is to d e te rm in e th e ra tin g o f a ll e m p lo y e e s in th e c o m p a n y w h ic h w ill d e te rm in e th e u ltim a te b o n u s . b o n u s is g iv e n to The t h e e m p l o y e e s a tet h n d o f t h e y e a r a l o n g w i t h t h a t e m o n t h ’ ss a l a r y d e p e n d i n g u p o n o n t h e o fi n a t i n g k rd re c e iv e d b y th e e m p lo y e e .

 D istrib u tio n o f th e B o n u s
T h e b o n u s is g iv e n a s p e r th e ra tin g re c e iv e d .
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1 ) E x c e e d s x p e c t a t i o n s 0% h i k e i n s a l a r y i n c l u d i n g E :4 bonus. 2 ) M e e t sE x p e c t a t i o n s : M -1 : 3 0 % h i k e i n s a l a r y i n c l u d i n g b o n u s . M -2 : 2 0 % h i k e i n s a l a r y i n c l u d i n g b o n u s . M -3 : 1 0 % h i k e i n s a l a r y i n c l u d i n g b o n u s . 3 ) N e e d sI m p r o v e m e n t h e y a r e n o t g i v e n b o n u s b u t : T th e ir p a c k a g e is in c re a s e d b y R s.1 0 0 0 o r R s. 2 0 0 0 a lo n g w ith a w a rn in g to im p ro v e th e ir p e rfo rm a n c e .

Conclusion

Thus from the above report we can conclude that Performance Appraisal is very important for all
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employees. It is very important for the Department Performance especially when it comes to Business Process Outsourcing (BPO). Performance Appraisal is very important in assessing the employee’s productivity and efficiency in the organization.

Prof. Cabral

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Bibliography
www.jpmorganchase.com 2. www.wikipedia.com 3. Organizational Behavior-Stephen Robbins
1.

Prof. Cabral

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Questionnaire:

Annexure

Performance Appraisal Form
NAME: _______________________________________________________________ AGE: ____ JOB DESIGNATION: _____________________________________________________ Questions: 1. Are you doing your job satisfactorily? a) True b) False c) Neutral 1. Is the job that is assigned to you being carried out perfectly? a) True b) False c) Neutral 1. Are you able to manage a professional relationship with your peers and your superiors? a) True b) False c) Neutral 1. Have you achieved any new methods and innovative techniques in trying to overcome your problems? 2. Do you think you are capable enough to handle fresh trainees under your guidance? a) True b) False c) Neutral Do you think you can handle a grievance report effectively? a) True b) False c) Neutral Are all the compliance norms being met with? a) True b) False c) Neutral Is the workload that is designated to you taken care of within the deadline? a) True b) False c) Neutral Did you manage to establish any special achievement throughout the year?

1. 1. 1. 1.

2. How would you rate your overall performance on a scale of 1-10? 3. Are you able to access all the areas within your org.? a) True b) False c) Neutral Prof. Cabral Page 17

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1. Do you have the opportunity to perform higher duties when people are away? a) True b) False c) Neutral 1. Do you work after regular work-hours to complete a critical task? a) True b) False c) Neutral 1. How would you rate yourself for the following characteristics on a scale of 1-10 : a. Fast learner b. Communication and people skills c. Hard-working d. Being independent

Place: Mumbai Date:

(signature of the appraisee)

Prof. Cabral

Page 18

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