Performance Management Essay

866 Words4 Pages
INDEX Abstract 3 Introduction 4 Performance & Potential 5 Understanding TMS Grid 9 TMS & Appraisal Rating 11 Special Cases 14 The TMS Process 15 Use of TMS Rating 19 Advantages of the System 19 Gaps in the System 19 Abstract This project us gave the opportunity to analyze and explore performance management system at Bajaj Allianz. We have explored the performance appraisal part of the same namely understanding the Talent Management System (TMS) and its use in Bajaj Allianz. How they differentiate between potential and performance and how they rate a team Member on Performance and Potential to finally arrive at the overall TMS rating. Introduction Performance…show more content…
However, there must be consistency in the rating provided to an individual through the two systems. Performance and potential Bajaj Allianz differentiates clearly differentiates between performance and potential. These two form the basis of PMS at Bajaj Performance refers to the actual performance exhibited by a Team Member in their daily activities and is measured in terms of Target Achievement. Performance = Past + Current Potential refers to the inherent ability or capacity of a Team Member to take on higher roles in the near future. It is measured on the basis of: Ability to learn and contribute to own and other areas of work ,display of energy, enthusiasm, and positive attitude, ability to serve Customers better, ability to develop relationship and collaborate with people to work more effectively Potential = Future (Potential to grow into a higher role in the next 2 year Assessing Performance Performance for the purpose of the TMS activity is classified into four performance categories, as under Assessing Potential Potential is assessed on the following 4 areas Each of these areas need to be rated on the following scale: Scale Rating Best in Class: The person proactively grabbed every opportunity that presented itself and was found outstanding in this area. The person can be compared to the best in the industry and sets benchmarks. 4 High: Whenever given an
Open Document