SYNOPSIS ONPERFORMANCE APPRAISAL OF RELIANCE INDUSTRIES LIMITED

Submitted to

From:PRIYANKA SAHA (PGDM-AIMA)

2011-13

PROJECT REPORT SYNOPSIS

NAME REGISTRATION NUMBER NAME OF THE PROGRAMME ADDRESS : INSTITUTENEW

: PRIYANKA SAHA : B11120286 : PGDM (AIMA) M S RAMAIAH MANAGEMENT B.E.L ROAD, MSR NAGAR,MSRIT POST, BANGALORE-

54,KARNATAKA. PROJECT TITLE PERFORMANCE APPRAISAL OF

RELIANCE INDUSTRIES LIMITED PROJECT GUIDE : PROF. JAMUNA A S

CV OF PROJECT GUIDE

NAME OF PROJECT GUIDE:

PROF. JAMUNA A S

DESIGNATION:

ASST. PROFESSOR M.S RAMAIAH MANAGEMENT INSTITUTE.

ADDRESS OF PROJECT GUIDE:

M.S RAMAIAH MANAGEMENT INSTITUTE NEW B.E.L. ROAD, MSR NAGER, MSRIT POST, BANGALORE-54, KARNATAKA

QUALIFICATION:

M.COM (Finance), MBA (Marketing)

EXPERIENCE:

years of teaching experience years of industry experience

Signature: ____________ Date: __ /__ /__ Place: Bangalore.

SYNOPSIS CONTENTS

1. WORKING TITLE

2. PURPOSE OF THE RESEARCH

3. AIM OF PROJECT

4. OBJECTIVES

5. KEY QUESTIONS

6. RESEARCH METHODOLOGY

7. PROPOSED CONTENT

8. WORK PLAN

COVER LETTER FOR SUBMISSION OF SYNOPSIS To The Manager- Evaluation, All India management Association- CME, Management House, 14- Institutional Area, Lodhi Road, New Delhi- 110003. Subject: SUBMISSION OF SYNOPSIS FOR EVALUATION (PGDM IV Semester). I am enclosing herewith a Synopsis entitled PERFORMANCE APPRAISAL OF RELIANCE INDUSTRIES LIMITED Submitted to AIMA Manager Evaluation for possible evaluation. With the submission of this Synopsis I would like to undertake that the above mentioned Synopsis has not been published elsewhere and is my own work. My Institutes (M.S RAMAIAH MANAGEMENT INSTITUTE) representative is fully aware of this submission. The project synopsis was conducted under the supervision of PROF. JAMUNA A S of M.S RAMAIAH MANAGEMENT INSTITUTE

Thank you for your time. Yours sincerely, PRIYANKA SAHA ______________________ Reg. No. B11120286 E-mail address- priyankasaha1501@gmail.com Contact no.-07899087009 Correspondence address:PRIYANKA SAHA C/O Prof. SAVITHA RANI, PGDM (AIMA), IV Semester , M S Ramaiah Management Institute, M S R Nagar, MSRIT Post, New BEL Road, Bangalore- 560054

WORKING TITLE: PERFORMANE APPRAISAL OF RELIANCE INDUSTRIES LIMITED

PURPOSE OF THE RESEARCH Performance Appraisal is defined as the process of evaluating the performance and qualification of the employees in terms of the requirements of the job for which he is employed, for the purpose of administration including placement, selection for promotions, providing financial rewards and other actions which require differential treatment among the members of a group as distinguished from actions affecting equally. Performance Appraisal once the employee has been selected trained and motivated; he is then appraised for his performance. The Management finds out how effective it has been at hiring and placing employees. If any error is identified, then further remedial steps are taken to communicate with the employees. Performance Appraisal is being practiced in 90% of the organizations worldwide. Self-appraisal and potential appraisal also from a part of the performance appraisal process. Typically, Performance Appraisal is aimed at: To review the performance of the employees over a given period of time. To judge the gap between the actual and the desired performance. To help the management in exercising organizational control. To diagnose the training and development needs of the future. Provide information to assist in the HR decisions like promotions, transfers etc. Provide clarity of the expectations and responsibilities of the functions to be performed by the employees. To judge the effectiveness of the other human resource functions of the organization such as recruitment, selection, training and development.

According to a recent survey, the percentage of organisations (out of the total organisations surveyed i.e. 30) using performance appraisal for the various purposes are as shown in the diagram below:

PURPOSES OF PERFORMANCE APPRAISAL

90% 80% 80% 71% 70% 60% 50% 42% 40% 30% 20% 10% 0% Payroll and compensation Training and development seeds Identify cause Deciding future Promotions, other purposes of gaps is goals demotions and performance transfers 6% 35% 76%

The most significant reasons of using Performance appraisal are:

Making payroll and compensation decisions 80% Training and development needs 71% Identifying the gaps in desired and actual performance and its cause 76% Deciding future goals and course of action 42 Promotions, demotions and transfers 49% Other purposes 6% (including job analysis and providing superior support, assistance and counseling)

1. Career Development This provides an opportunity for discussion of career objectives, and creation of a strategy designed to maximize career potential. To provide an opportunity for career counseling To help in succession planning. To assess training needs To plan for career development To assess and develop individual abilities To provide an objective basis on which to base decisions about training and promotion 2. Feedback As well, feedback is encouraged in both directions: as such, employees are encouraged to prepare ratings of their supervisors. To provide constructive feedback to the individual regarding how their performance is seen. This provides a structured format for the discussion of performance issues on a regular basis. Feedback either reinforces performance strengths, or provides the opportunity to discuss resolution of performance deficiencies. 3. Administrative Uses of Performance appraisal Salary Promotion Retention/termination Recognition of performance Layoffs Identification of poor performers 4. Performance History This provides a performance history which is not dependent upon human memory, and which may be useful in the full range of personnel decisions, including compensation decision-making. To review past and present performance, identifying strengths and weaknesses. 5. Organizational Goals To clarify, for the individual, organizational expectations This provides an opportunity to view ones performance in the context of broader organizational goals. To assess future promotion prospects and potential To set objectives for the next period 6. Job Standards This provides an opportunity for clearer articulation and definition of performance expectations. 7. Documentation use of Performance appraisal Documentation for HR decisions Helping to meet legal requirements

AIM OF PROJECT The aim is to study the Performance Appraisal of Reliance Industries Limited. It also focuses on the role of Performance Appraisal and its impact on profitability of Reliance Industries Limited. The study also shows the role of Performance Appraisal in Long-term decision-making of Reliance Industries Limited. It also shows the position of the organization and how well is it performing to cope-up with the competitive rivalry. OBJECTIVES Performance Appraisal can be done with following objectives in mind: To maintain records in order to determine compensation packages, wage structure, salaries raises, etc. To identify the strengths and weaknesses of employees to place right men on right job. To maintain and assess the potential present in a person for further growth and development. To provide a feedback to employees regarding their performance and related status. It serves as a basis for influencing working habits of the employees. To review and retain the promotional and other training programmes. Finding the difference in standards and actual performance

RESEARCH METHODOLOGY Research Design A research design is a type of blueprint prepared on various types of blueprints available for the collection, measurement and analysis of data. A research design calls for developing the most effective plan of gathering the needed information. The design of a research study is based on the purpose of the study. A research design is the specification of methods and procedures for acquiring the information needed. It is the overall pattern or framework of the project that stipulates what information is to be collected from which source and by what procedures. Data Sources Primary Data It will be collected by an authorised questionnaire and also through observation interview and discussion with the management. Questionnaire is the systematic manner of collecting data for conducting research. It has to be keep in a proper framework to make it clear to the organisation. A sample questionnaire has been attached with this synopsis.

Secondary Data Secondary data will be collected from different website, company brochure, journals from library and research papers. Sampling Design Process Sampling : An integral component of a research design is the sampling plan. Specifically, it addresses three questions: Whom to survey ( The sample Unit) How many to survey ( the sample size) and How to select them (The sampling Procedure) Making a census study of the whole universe will be impossible in the account of limitations of time. Hence sampling becomes inevitable. A sample is only a portion of the total employee strength. According to Yule, a famous statistician, the object of sampling is to get maximum information about the parent population with minimum effort. Sample size The sample size of our survey will be 180 in which 60 each of below 20, 20-35 and 35+ age groups Sampling frame A sampling frame is a list of all elements in the population of interest. The sampling frame operationally defines the target population from which the sample is drawn and to which the sample data will be generalized. Sampling method The research was made by the survey in accordance to the convenience of the employees. So the sample type is convenient sampling. Data Collection For the purpose of this study, we prepared a questionnaire to find out the elements require for a good performance appraisal in Reliance stores to provide better HR practices. The survey was conducted on the employees of Reliance in Bangalore across all age groups. During data collection, we ensured that the responses of an individual were not biased due to the presence of somebody else and were of him/her only. The results are based on the survey conducted in Bangalore city and thus the scope of study is limited to Bangalore only.

Questionnaire Formulation For the formulation of this questionnaire, Likert scale has been used at various places. Test: Z - TEST

QUESTIONNAIRE (CUSTOMERS)

Dear Sir/ Madam, I am a student of Post Graduate Diploma in Management from All India Management Association and as a part of our curriculum I am doing a project titled. To study Performance appraisal Towards RIL Bangalore I would be grateful to you if you could spend a few minutes and share your views with me. (Tick wherever applicable).

Name:AGE MALE FEMALE Family Income Level ( in months) 5K-15000K 31K-50K 16K-30K 51K-1Lakh 18-25

Occupation:26-35 36&More

More than 1L/More

1. When performance appraisal is made in the organization?

Half yearly Yearly

2. What is the objective of performance appraisal?

Assessing training and development needs Pay rise Others 3. Which method of performance appraisal is implemented in the organization? Merit Grading Other 4. Is there any conflict arise between employees after performance appraisal is made? Frequently

Never 5. Are there any job expectations established before performance appraisal? Frequently

Never 6. Do you think performance appraisal helps people set and achieve meaningful goals? Yes No

7. Who rates the performances?

Subordinates All 8. On what basis performance appraisal is made?

9. Is 360 degree appraisal process undertaken in the organization? Yes If no then which type: .

10. Does any change arise after appraising the performances of employee?

If yes, how is it?

Both 11. Do you think performance appraisal improves motivation and job Satisfaction? Yes No 12 .Does transfer, demotion, suspension and dismissal is based on performance appraisal?

No

WORK PLAN MAY 1 WEEK 1-2 WEEKS 1 WEEK 1-2 WEEKS Submission of Synopsis to AIMA for approval Collecting the secondary data from websites, research papers and magazine after getting approval. Collection of primary data by set of questionnaire & interview. Analyzing & deriving conclusions Preparation of report and Submission of project report to AIMA