ONIDA

Introduction Onida has been an enduring brand in the Indian Consumer Durable space, and has won the trust of millions of consumers with its high quality products. Being an Indian company, the company understands the unique requirements of the Indian consumer more than any other company does. This has found expression in so many of the innovative products that have been launched over the years. This understanding of the consumer is one of the core strengths of the company that has enabled it to compete in the market.

History Mirc Electronics commenced its journey in 1981. Starting with a goal of manufacturing television sets, it transformed into a consumer durable company with a wide portfolio including Flat panel TVs, Air Conditioners, Washing Machines, Microwave Ovens, DVD and Home Theatre systems, Mobile phones, Projector systems and LED lights. In the annals of Indian advertising, Onida enjoys a storied past. The advertisements that Onida brought out broke all conventions and are a defining feature of the organisation. The company created amongst the most powerful icons in advertising, the Onida Devil, and amongst the most memorable taglines, Neighbours envy. Owners pride. Mirc has world class manufacturing facilities at Wada (Maharashtra) and Roorkee (Uttrakhand) with a capacity of over 3.4 Million Televisions and 2.4 lakhs Washing Machines respectively. With a Maverick leadership team, Onida has become a torch-bearer for consumer-centric innovations and unconventional communication. Onida has often been voted as the top most trusted consumer durable brand in India a reflection of its continued success.

Values Different and Unique Respect for Individual Integrity Customer Relationship Achieving the Impossible Passion for Perfection

PMS process at Mirc Electronics

Process Flow Chart- PMS

Business Strategy

Functional KRAs

Individual KRAs

Goals/Targets (Specific & Measurable) Half Yearly H1- April- September H2 October March

Half Yearly Review

Performance Pay
*subject to Mgt Decision

Recalibration
(Fine tuning)

Annual Appraisal

Growth

Training

Potential

Performance Pay

Identification

Performance management at Onida is seen as a participative process in which the employees and supervisor share responsibility for the development of a performance and development plan. PMS is implemented for attaining the following set of objectives Administrative: decision related to promotion, compensation revision, placement, transfer, etc. Organizational: HR planning and enhancing productivity Motivational: increasing productivity through appraisal interviews Developmental factors: counseling, training and development, communication

At Mirc electronics the PMS process begins with the formulation of the business strategy. It is the business direction for the future (short and medium term) in terms of a vision, strategic themes and a portfolio of planned changes to which every programme and project contributes. The next step is drawing a tactical plan for the year which is followed by translating the objectives of the tactical plan into function wise and department wise KRAs. The KRAs for the function are negotiated by the HODs, Vice Presidents and CEO. The next step in the process involves converting the Function wise KRAs into individual KRAs and goals. After this step in the PMS process each individual draws up an action plan for the year in consultation with their direct supervisor. These plans are drawn up twice. Timeline H1 is from April to September followed by the mid- year review and Timeline H2 from October to March which marks the end of the PMS process with the Final review. Mirc Electronics Ltd Performance Assessment and development plan for mid- level managers reviews the KRAs decided at the beginning of the year on the basis of the target fixed and the cumulative results achieved against each KRA. The focus is on tangible outputs but KRAs that have a qualitative element are also considered. The weightage for this section is 85%. This plan also evaluates the employees job and personal traits. Some examples of these traits include accomplishment of tasks and goals, job knowledge, decision making, team relations communication, customer focus, team relations, accountability and problem solving skill. The weightage for this section is 10%. Another important section in the assessment is the living company values. This section involves demonstrating the company values outlined earlier in the introduction in the daily work life of the employee. The weightage for this section is 5%. Both the Review of KRAs and the Job/ Personal trait evaluation sections are to be filled by the Appraiser after discussion with the Appraisee. The Job/ Personal trait rating is done on a 4 point

scale (4 for exceptional performance and 1 for unsatisfactory). The value section has a selfrating by the appraisee and a rating by the manager and an average of the two is considered. Onida ensures that the employees go through a well- planned training programme to deliver the best. They are actively involved in conducting and facilitating need-based training. Each employee based on his/her function requires a specific set of competencies. It is necessary to identify the broad development areas followed by the input required for the same. The methodology used to develop the suggested competencies is drawn from a deficiency in knowledge, attitude, skill or any other requirement. Supplementing the development plan include Cross Functional team projects, Task Force assignments, suggested readings, Benchmark visits and on the job training. The assessment also considers the employees potential to take up higher responsibility in a definite time frame. On the basis of the employees past and present performance a proper career development plan is drawn such that the best is harnessed out of the individual. Thus employees are motivated and empowered by structured career plans that optimize their individual potential. Other initiatives launched by Mirc Electronics include the following: Concurrent Assignment: this is a developmental input aimed at developing an individuals targeted competencies. Here the executive is required to undertake a problem/ issue of another function and work on the solution of that problem/ issue. This input was envisioned with a view to broaden inter- function knowledge as well as develop latent abilities of executives. Competency Development Program: individual growth and development plan are designed based on the competency standard of the individual in the present role and the current status for the future roles. This program develops the skills, knowledge and attitudes required to achieve competency standards. The focus of this program is an understanding of the present and future competencies required by the business.