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
Performance for the purpose of the TMS activity is classified into four performance categories, as under
Potential is assessed on the following 4 areas
Each of these areas need to be rated on the following scale:
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 opportunity, the person always met expectations. 3
Satisfactory: Given an opportunity, the person often met expectations but needs to develop this area further. 2
Needs Improvement: Even on receiving opportunities, the person displayed poor ability in this area. Needs significant improvement. 0
Once the person is rated in each area one sums up the total ratings. The final rating can then be looked up in the Potential Assessment table to arrive at the final Potential Rating:
Individual Rating on Poten View More »