Dreamal's Summer Project

Performance management system
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Chapter1:
Introduction
1.1 Introduction of company

Jainam Share Consultants Pvt. Ltd. was incorporated on November 10, 2003 & is mainly
carrying on the broking business in the equity market. The company has acquired memberships
of the two major stock exchanges of India viz. National Stock Exchange of India Ltd. (NSE) &
Bombay Stock Exchange Ltd. (BSE). The company is also registered as a Depository Participant
(DP) with Central Depository Services (I) Ltd. (CDSL). The companys registered office is
situated at M-5/6, Malhar Complex, Dumas Road, Ichchanath, Surat 395007.
The company commenced its BSE operations from October 4, 2004 & its NSE operations from
17th March 2005. Since incorporation the company has been consistently growing with the
present client base of around 34000+ clients in Know Your Client (KYC) and 21000+ clients in
Depository Participants (DP). The company has approximately 250 outlets to cater to the needs
of the investors for their equity trading in the stock exchanges.
Jainam Share Consultants Pvt. Ltd. has also started trading in Currency Derivative Segment with
memberships in MCX Stock Exchange Ltd (MCX-SX) , National Stock Exchange of India
(NSE) and Bombay Stock Exchange Limited (BSE) in the year 2008.
Jainam Commodities Pvt. Ltd. was incorporated on 1st June 2005 & is mainly carrying on the
broking business in the commodity market with a client base of around 600 clients. The company
has acquired memberships of the two major commodity exchanges of India viz. National
Commodity & Derivatives Exchange Ltd. (NCDEX) & Multi-Commodity Exchange of India
Ltd. (MCX) The companys registered office is situated at M-11, Malhar Complex, Dumas
Road, Ichchanath, Surat 395007.

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1.1.1 JAINAM SHARE CONSULTANTS PVT. LTD.
Jainam Share Consultants Pvt. Ltd. was incorporated in 2003 with the vision to be the most
preferred organization providing all financial services across the country. The foundation is on
"Value" Systems - "Value" addition to Corporate, Retails and HNI Individuals through superior
Wealth Creation Practices.
Jainam Share Consultants Pvt. Ltd. was incorporated on November 10, 2003 & is mainly carrying
on the broking business in the equity market. The company has acquired memberships of the major
stock exchanges of India viz. National Stock Exchange of India Ltd. (NSE), Bombay Stock
Exchange Ltd. (BSE) & MCX Stock Exchange Ltd. (MCX-SX). The company is also registered as
a Depository Participant (DP) with Central Depository Services (I) Ltd. (CDSL). The companys
registered and corporate office is situated at M-5/6, Malhar Complex, Dumas Road, Ichchanath,
Surat 395007.

Since incorporation the company has been consistently growing with the present client base of
around 52000+ clients in Know Your Client (KYC) and 40500+ clients in Depository Participants
(DP). The company has 450+ outlets to cater to the needs of the investors for their equity trading in
the stock exchanges.

Jainam Share Consultants Pvt. Ltd. provides all types of services like Equity Trading, Derivatives
Trading, Currency Trading, Depository Services, Online Trading, Jobbing Arbitrage, Mutual Fund,
Insurance, FD, IPO.

1.1.2 JAINAM COMMODITIES PVT. LTD.
Jainam Commodities Pvt. Ltd. was incorporated in 2005 with the vision to be the most preferred
organization providing all financial services across the country. The foundation is on "Value"
Systems - "Value" addition to Corporate, Retails and HNI Individuals through superior Wealth
Creation Practices.
Jainam Commodities Pvt. Ltd. was incorporated on 1st June 2005 & is mainly carrying on the
broking business in the commodity market with a client base of around 600 clients. The company
has acquired memberships of the two major commodity exchanges of India viz. National
Commodity & Derivatives Exchange Ltd. (NCDEX) & Multi-Commodity Exchange of India Ltd.
(MCX) The companys registered office is situated at M-11, Malhar Complex, Dumas Road,
Ichchanath, Surat 395007.

NAME OF JAINAM
JAINAM the name blends three families together; J stands for Dr. Jitendra Shah &
family, N stands for Mr. Nipun Shah & family. M stands for Mr. Milan Parikh &
family. Using these initials the word JAINAM emerged.
Besides Jainam is also the name of Milan Parikhs younger son.
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MEMBERSHIP OF JAINAM

BOARD OF DIRECTORS
Dr. Jitendra Shah
Mr. Milan Parikh
Mr. Nipun Shah
Mr. Chirag Shah

Present Strength of JAINAM
51762 + Clients
508 + Channel Partners
20 Branches
18 Departments
200 + Employees

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PRODUCTS OF JAINAM
Flat Brokerage
Prepaid Brokerage
Margin Funding
0 Brokerage
Arbitrage Plan
Jobbing, Arbitrage & delta
IPO Funding
Advise based Broking (Equities & Derivatives)
Commodities, Currency
Mutual Funds, FD, Insurance

JAINAM LOCATIONS AT SURAT
Nanpura - Kailash Nagar (BM Mr Dhaval Kansara)
Gopipura - Chandanbaug (BM Mr Sunil Modi)
Rander - Paradize Plaza (BM Mr Hasim Suthar)
Varachha - Dimond World (BM Mr Krunal Patel)
Adajan - Mavani Point (BM Mr Taral Tailor)
Sargam - Malhar Complex (BM Mr Kamlesh Barot)
Mahidharpura - Suparshwa (BM Mr Samkit Shah)
Krishna (BM Mr Dharmesh Modi)
Gopinath (BM Mr Rujal Shah)
Ring Road - Empire (BM Mr Vikrant Mehta)
Super Tex (BM Mr Navin Shah)
ITC (BM Mr Shajid Memon)
Bhatar - Sakar 1 (BM Mrs Hetal Jariwala)

JAINAM LOCATIONS AT OUT OF SURAT
Mumbai - Platinum Arcade, Gurguam (BM Mr Tushar Doshi)
Bhavnagar - Tanay Apartment, Atabai Road (BM Mr R D Mehta)
Rajkot - Star Chambers, Harihar Chawk (BM Jignesh Kothari)
Baroda - Mary Land Complex, Old Padra Road (BM Mr Kaushik Pandya)
Silvasa - Gokul Vihar, Tokarkhada (Mr Hiral Panchal)
Bharuch - Kasak (BM Mr Dhaval Pithadia)
Navasari - Shantadevi Road (BM Mr Rajbahadur Patel)
AHMEDABAD - C G Road (BM Mr Kaushik Pandya))

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1.1.3 Milestones
Jainam Share Consultants Pvt. Ltd.

2008 October 13 Acquired Membership of National Stock Exchange of India

2008 September 29 Acquired Membership of MCX Stock Exchange Limited

2008 September 18 Acquired Membership of Bombay Stock Exchange Limited

2005 December 15 Acquired Membership of Central Depository Services (India) Ltd.

2004 December 23 Acquired Membership of National Stock Exchange of India Ltd.
(Cash Seg.)

2004 December 17 Acquired Membership of National Stock Exchange of India Ltd. (F
& O Seg.)

2004 September 30 Acquired Membership of Bombay Stock Exchange Ltd. (Cash Seg.)

2003 November 10 Company Registered

Jainam Commodities Pvt. Ltd.

2011 May 30 Acquired Membership of National Spot Exchange Ltd.

2006 February 06 Acquired Membership of National Commodity & Derivatives
Exchange of India Ltd.

2005 December 08 Acquired Membership of Multi Commodity Exchange of India Ltd.

2005 June 01 Company Registered

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1.1.4 Jainams mission and vision statement

MISSION
Prosperity with security
BHAG 2037
Becoming the most preferred institution, globally known for wealth creation for Everyone
connected
CORE VALUES
Integrity
Transparency & Fair Practices
Continual Improvement with focus on Radical Changes
Give much more than what we are paid for
Respecting & Encouraging everyone around us
Speed
PHILOSOPHY OF JAINAM
Build long term relationship with customers by winning their trust.
Give dedicated service to all customers by protecting their investments in volatile
circumstances and adding value to their wealth.
Integrate the best in technology, research and analysis into the business model thus ensuring
growth not only in business but also in customer relationship.
Keep changing to adopt new things in the world.
STRENGTHS
Every customer is provided one-step solution for trading in the equities market, Currency
Market, Commodities market & Other Financial Services also.
Provision of free, state of art research to all clients.
Dedicated & Experienced Team.
Inspiring & Powerful Leadership.
If the Directors are the soul of Jainam, then the employees are its heart. They put in long
Work hours to achieve great results.
Employees can directly approach to the management for any major issues and can share
their new ideas and thoughts.

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1.1.5 JAINAM STRUCTURE

CHAIRMAN
DIRECTORS
Operational
Head
Operations
CC
DP
KYC
HR &
Admin
IT &
Software
Hierarchy Structure
Security
Operational
Head
Finance
Accounts
Collections
NBFC
Surveillance
Operational
Head 1
Business Dev
Branches
Commodity
Research
Sales
SB
Development
WMSC
Operational
Head - 2
Business Dev
Compliance
& Legal
Delta

1.1.6 JAINAM DEPARTMENTS
Sales & Marketing
Client Account
Surveillance
Commodities & currency
Delta, Jobbing Arbitrage
Security
Franchisee Development
Business Development
Account & Audit
KYC - DP
IT
Software
Compliance
HR
WMS
Research
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Customer Care
Admin

1.2 HR department details

1.2.1 Manpower Planning

An effective manpower planning is to be done by HR Manager in consultation with all HODs
before it is put up for approval by Directors. Man-power Planning is essential. For the following
reasons:

a) Excess man-power may be reduced
b) Develop multi-skills
c) Right people for right job
d) Succession planning

Whenever the vacancy occurred in any department than HOD will give the intimation to HR
Department and fill the Manpower Requisition Form (format) for giving details of requirement
and submit to the HR Department with the approval of top management.

1.2.2 Recruitment /Selection procedure

Two type of recruitment is there. i.e. Internal and External. First preference will be given to
internal selection and internal transfer. In case of internal transfer we can promote him/her with
providing extra responsibility and rewards. So that we can reduce our recruitment cost and can
motivate our internal staff by giving new opportunities and challange.

(A) External Recruitment system
In external recruitment system Jainam has tie up with different recruitment consultancy like
Mafoi consultancy, Unique world, Smart and Ascend etc
(B) Internal Recruitment System
Directly candidates come through our staffs reference like their relatives, friends etc... If we
have any vacancy for that particular post, then we take his/her Interview with the concern HOD.
1.2.3 Induction

Induction is very important function of HR Department. Major important objectives of Induction
are:

1. To familiar with the JAINAM culture. To feel his/her as a family member of the company.
2. To aware with the Company profile, Company Policy, Rules and Regulation.
3. To aware with the company Vision, Mission and Values.
4. To aware with the general disciplinary policy and other activities of Jainam.
5. To give Basic knowledge of departmental activities.

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HR Manager will take the Induction training of all new join employees within a month of date of
joining. Induction training will include:

Organizational Structure and Department Structure
Jainam History
Overview of Share Market
Statuary Compliance
Welfare activities with photos
Departmental work process
General Disciplinary Policy

1.2.4 Time Keeping

Time keeping is a major function of HR Department. Main function of time keeping is to
maintain Attendance and Leave data of all employees. Attendance data is maintained by two
ways i.e. Physical Data and Online Data.
According to this data we can know that:-

How many employees are not entering their attendance regularly?
How many are not on time?
Who is going early?
Who are coming late in office?
How many are on leave?

1.2.5 Salary Administration

Salary administration is a very important and sensitive area of HR. On basis of attendance data
we are processing salary every month.

We are entering absent days data of employee in excel sheet & Software as per there
leave in particular month
We are doing salary in 2 way
1. We are uploading file directly in HDFC / AXIS Bank in salary account.
2. If any employees has no salary account than we are giving cheque to them

1.2.6 Training (People Development)

People Development is a core value of our Organization. For that Training is a very important
tool. People Development means to give training to Internal (Employees) & External Customer
(Client, Sub Broker, Students) for Organization Development as well as Self Development.
Every year we are planning & Providing In-house & Out-door training to all.

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1.2.7 Performance Management System

Performance Management System is a very important task in any Organization. We have
Performance Management System for managers & Asst Managers.

Objective:
To provide supervisors with a guide for communicating performance expectations,
appraising and rewarding performance, or assisting in improving deficient performance.
To evaluate the performance of Sr Level Employees.
To focus on Key areas of Department for improvement of Department.
To give more challenging work to Sr. Level.

1.2.8 Performance Appraisal

Performance appraisal is also a one of the performance evaluating process for analyses the work
performance of the team/Department. Basically this system is for only Executive level
employees.
Procedure for PA
Initially HR Manager will meet with the all Departmental head / Manager. They will
decide goals for their particular department.
This goals / Responsibility will be distribute and allocate to the Employees.
Performance Appraisal is a yearly process. At the end of the year Appraises will fill the
Performance appraisal form (Copy Attached) and submit it to HR Departmental.
After this process HOD / Manager will fill the same form for the same employee.
HR will collect all form from Managers and analyze it and discuss with Management.
In final review Appraiser and Appraise will sit together and analyze the performance.
On the basis of evaluation, Management will decide in which area employee require
training & Motivation for his / her development.
On the bases of evaluation Management will decide Increment & Promotion also.

1.2.9 Promotion, Incentive, Bonus & Transfer
All these process are done by HR with the help of Managers & Management every year. In the
beginning of every year company will decide criteria for Incentive, Bonus, KRA Promotion for
all employees & Managers.
Promotion:
On the basis of PMS and PA evaluation data Management will decide that to whom we
can promote or whom not.
Director will discuss with HOD/Manager and finalize the new designation.
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HR department will issue Promotion letter (Copy attached) to all promoted employees
after approval from top management.
Transfer:
Internal department and Internal Branch transfer is there for fill the vacancy occurred in
company.
Management and HOD will take the decision for Internal transfer.
Compensation:
It includes Bonus, Incentive and other monetary benefits provide to employees.

1.2.10 Grievance Handling
Grievance Handling is a very complicated area. It should be very Justified & Specific. Most of
grievances are handled by concern HOD. If HOD will not able to manage the grievance than its
forwarded to Top Management. Grievance related to salary, Compensation, Performance and
Attitudinal matter will be handled by HR Department. Business & Operations related grievance
will be handled by concern HOD.

1.2.11 Exit Interview

If any employee is going to resign from his/her post, He/She has to give 1 month notice
period after confirmation, Notice period will be one months on either side.
If employee leave the organization before the stipulated notice period, he/she will be
required to reimburse the organization one months gross salary as 'notice pay' in lieu
thereof.
Employee will submit resign letter to HR Department with the approval of HOD.
In Resign Letter employee will mentioned Reason for leaving the job, Last date of Relieving
etc. (Copy Attached)
HR will take exit interview of that employee within 7 days after resigning.(Format
Attached)
At the day of relieving HR will give Full & Final form (Format Attached) to that employee.
In this form employee have to take sign from all concern department for Relieving.

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1.3 Industry profile
1.3.1 History of Stock Exchange:-
The only stock exchanges operating in the 19th century were those of Mumbai setup in 1875 and
Ahmadabad set up in 1894. These were organized as voluntary non-profit-making associations of
brokers to regulate and protect their interests. Before the control on securities under the
constitution in 1950, it was a state subject and the Bombay securities contracts (control) act of
1925used to regulate trading in securities. Under this act, the Mumbai stock exchange was
recognized in 1927 and Ahmadabad in 1937. During the war boom, number of stock exchanges
was organized. Soon after it became a central subject, central legislation was proposed and a
committee headed by A.D.Gorwala went into the bill for securities regulation. On the basis of the
basis of the committees recommendations and public discussion, the securities contract
(regulation) act became law in 1956.

1.3.2 Stock exchanges in India:-
The Indian Equity market is divided in to two parts Primary market - where the share is first
issued in the form of IPO (Initial Public Offering) and after issuing the share it is listed on
exchange and share is traded on exchange where shares can be bought and sold this is secondary
market.
In India mainly there are two exchanges -NSE (National Stock Exchange) BSE-Bombay Stock
Exchange. The BSE is the oldest exchange in India(started in 1875).NSE started operation on
1994.Before 2000 shares was held in Physical form But the main difficulty with Physical shares
is method of transaction which is open out , Physical shares were prone to duplication and fraud.
So in 2000 NSE introduced the electronic screen based trading system of Dematerialization
(Conversion of physical share in to electronic form) and depository (where the electronic form of
share is kept) revolutionized the Indian Stock market. Currently there are mainly two Depository
(DP) - NSDL and CDSL and these DP are like bank of share. Individual/Firm can deal through
Broker (who is registered and having membership in Exchanges and Depository) for buying and
selling securities. Today NSE outpaced BSE in volume of trade.
Then what is the purpose of stock market? Stock market serves the company by providing
company the finance for long term needs and for investor an opportunity to park their savings in
corporate world and in turn give their hand in Nation's development so stock exchange have a
very vital role in country's economic development.

1.3.3 How share market function?
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To buy the shares investor has to open a trading and demat account. So investor has to approach
a broker/sub broker who has member ship in Exchange (mainly NSE and BSE) and depository
[mainly CDSL and NSDL).Then Investor has to give necessary identity proof, Address proof,
Bank proof and fill the KYC form after reading it carefully, broker will ask for power of attorney
for smooth transaction but this is not mandatory and if POA is not given investor had to fill the
delivery instruction slip after selling the share. After opening the account the investor can do
trading/investing Directly, Through Phone Internet form broking office and he will contract
note(similar to bill that we got when we purchase something and contract note include all minute
detail of transaction including brokerage[commission of broking house] STT and Other taxes)
for the transaction done by him within 24 hr of transaction and he has to give cheque to Broker
in the name of broking office(no cash transaction is permitted) and current settlement is rolling
settlement (The rolling settlement ensures that each day's trade is settled by keeping a fixed gap
of a specified number of working days between a trade and its settlement. At present, this gap is
3 working days after the trading day. So transaction entered into on Day 1 has to be settled on the
Day 1 + 3 working days, when funds pay in or securities pay out takes place. If investor is selling
the security he will get money in 3 working days. If investor failed to deliver the security within
time his share will get auctioned and investor has to borne the penalty. If the investor has old
physical share he can fill the dematerialization form and send it for converting it to demit form.
The reverse can also be done.
SENSEX consist of 30 share and NIFTY 50 share (of top most companies) what is the purpose
of INDEX? Index is the barometer of stock exchange for ex in NSE there are about 1350 listed
companies listed and we cannot say in general form market was up or down without fully
looking all companies. INDEX serve this purpose. INDEX is constructed by taking top
companies across different sector in different weight age and INDEX movement will reflect the
overall movement of market. So if NIFTY or SENSEX is up we can generally assume market
was up(does not mean all shares was up) and vice versa. Now there are index in some sectors
which can catch the movement of that sector like CNXIT-IT sector, BANKNIFTY-Banking
sector etc. General purpose of Stock Market is for Investment but bulk of activities done in
market is day trading. Day trading means BUYING/SELLING of shares and offsetting the
position on same day(intra-day trading).Day traders serves the purpose of bringing the liquidity
to market and they help the market movement and more than 80% of the volume from market is
coming from day trading. Introduction of derivative market had made the day trading to grow
more and introduction of advanced day trading technique. The main tool for Stock market
investment/trading are Fundamental analysis -which studies about the fundamental of companies
and economy and Technical Analysis-which studies the market by analyzing the past movement
of share and market.
The investment scenario in India is now is at par with global Market. The introduction of
Derivative, Currency ,Commodity market now helped the Indian Investor to Invest in almost
anything like Share, Commodity ,Currency ,Bonds and complex thing like Interest rate future,
Weather Derivative, Volatility Index and more and Stock market are giving various product to
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invest in with various amount of risk like bonds ,Gold ETF, Equity and Preference Share,
Commodities(metal and Agriculture) Currency to high risk Derivative product.

1.3.4 Major players in stock exchange broker :-
Share khan:-

Share khan was founded in 1922, but entered into real broking in 1985. Share khan was
incorporated in February 2000, share khan is Indias 2
nd
largest stock broker providing brokerage
services through its online trading websites. Sharekhan.com and 1950 Share shops which
includes branches and franchises in more than 575 cities across India. Share khan has seen
incredible growth over last 10 + years though its very successful online trading platform and the
chain of franchises located in almost every part of India. Share khan has over 10 lakh retail and
institutional customers.
Sharekhan.com is the finest investment portal for India stock market. services offered by share
khan includes trading in equity, F&O and commodity and investment in IPOs, mutual Funds,
Insurance, Bonds and NCDs . Company also provides Share khan Demat Account and
registered as a depository participant with NSD and CDS.
Angel broking:-

Angel broking has emerged as one of the top 3 retail broking houses in India. Incorporated in
1987, it has memberships on BSE, NSE and the two leading commodity exchanges in India ie
NCDEX & MCX. Angel is also registered as a DP with CDSL.
Angel broking provides retail related services encompassing EBroking, Investment advisory,
Portfolio Management Services, Wealth Management Services and Commodities Trading. It is a
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BSE and NSE. it is also a registered depository participant with CDSL. It has employee friendly
HR policies which gives security and fair promotions.
Motilal oswal:-

Motilal Oswal was incorporated in 1987, Motilal Oswal Securities Ltd is a well diversified
financial services firm offering a range of financial products and services such as Wealth
Management Service, Broking and Distribution, Commodity Broking, Portfolio Management
Services, Institutional Equities, Private Equity, Investment Banking Services and Principal
Strategies.
Company have a diversified client base that retail customers (including High Net worth
Individuals), mutual funds, foreign institutional investors, financial institutions and corporate
clients. They are headquartering in Mumbai. Motilal Oswal Investments Private Limited was
renamed as Passionate Investment Management Private Limited (PIMPL), and received a fresh
certificate of incorporation on February 23, 2006.
Motilal Oswal Financial Services was awarded the Best Use of Public Relations in the Financial
Services Sector Award at the India PR & Corporate Communication Awards 2012 held in New
Delhi on March 22, 2012. Organized by Exchange4media, these are the biggest awards of its
kind in India
Indiabulls:-

Indiabulls Securities Limited was originally incorporated in India on June 9, 1995, under the
Companies Act as a private limited company as GPF Securities Private Limited under certificate
of incorporation bearing number 55-69631. The name of the Company was changed to Orbis
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Securities Private Limited on December 15, 1995. The Company was subsequently converted
into a public limited company and its name was further changed to Orbis Securities Limited.
on January 5, 2004.The name of the Company was again changed to Indiabulls Securities
Limited on February 16, 2004.

Indiabulls Securities is one of India's leading capital markets companies providing securities
broking and advisory services. Indiabulls Securities also provides depository services, equity
research services and IPO distribution to its clients and offer commodities trading through a
separate company. These services are provided both through on-line and off-line distribution
channels.Indiabulls Securities is a pioneer of on-line securities trading in India. Indiabulls
Securities in-house trading platform is one of the
fastest and most efficient trading platforms in the country Indiabulls Securities has been
assigned the highest rating BQ-1 by

1.4 Introduction to topic:-

Performance management is to ensure that goals are consistently being met in an effective and
efficient manner, either with the view the performance of the company as a whole (a separate
entity), examining the performance of the heads and managers of the company towards reaching
their goals or to monitor the employees at a basic level evaluating how and whether they reach
the goals set up by the senior management eventually benefiting the company. To evaluate
employees at an individual level, one has to in corporate planning, setting goals, offering
feedback and reviews, presenting employees with opportunities to learn more about their
particular field and finally rewarding them or punishing them as per their performance, into his
job description. These activities will be his plan of action; they define his current career at this
company. In order to carry out performance management successfully, the goals and targets have
to be clearly defined. Consistency in definition of goal is mandatory. Else, the employees will
not know what to focus on. For proper execution of performance management, the manager must
develop a communication system that is open and effective. Communication plays a major role
and is often the key to success for many firms.

In short PMS is, The process of motivating employees through setting goals, measuring progress,
giving feedback, coaching for improved performance, and rewarding achievements.
Performance management is: the process of Directing and supporting employees to work as
effectively and efficiently as possible in line with the needs of the organization (Walters, 3).

l Performance management is a strategic and integrated approach to delivering sustained success
to organizations by improving the performance of the people who work in them and by
developing the capabilities of teams and individual contributors (Armstrong and Baron, 4).

Performance management system includes 6 basic things:-
Performance planning, Performance appraisal and review, Feedback on the performance by
personal counseling and performance facilitation, Rewarding good performance , Performance
improvement plans, Potential appraisal

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The employees should be well aware of any benefits or rewards they might get when performing
up to the standards, simultaneously they should also be warned of the consequences that they
would be liable to face if they dont perform as per the requirements. There should be effective
communication between employees and the administration department. Organizations can
successfully word if they follow open communication systems. Performance management also
involves giving feedback to employees more than they get annually. With the help of frequent
feedbacks, the employees will be able to portray in their minds where they stand and how hard
they need to work to reach up to the standard goals

1.4.1 What is performance management system?

Performance management is a current buzzword and is the need in the current times of cut throat
competition and organization battle for leadership.

Performance management is the process of identifying, evaluating and developing the work of
performance of employees so that the companys goal and objective are more effectively
achieved. Effective performance management is designed to enhance performance, identify the
performance requirements, provide feedback relevant to those requirements and assist with
career development.

The process of performance management starts with the joining of a new incumbent in the
system and ends when the employee quits the organization.
A performance management system sets the platform for rewarding excellence by aligning
individual employee accomplishments with the organizations mission and objectives and
making the employee and the organization understand the importance of a specific job in
realizing outcomes. By establishing clear performance expectations which includes results,
actions and behaviors, it helps the employees in understanding what exactly is expected out of
their jobs and setting of standards help in eliminating those jobs which are of no use any longer.
Through regular feedback and coaching, it provides an advantage of diagnosing the problems at
an early stage and taking corrective actions.

1.4.2 Definitions of performance management system :-
Performance management system (PMS) is the heart of any people management process in
organization. Organizations exist to perform. If people do not perform organizations dont
survive. If people perform at their peak level organization can compete and create waves.- TVS
Rao.
A framework that identifies opportunities for performance improvement through use of
performance measures such as standards and indicators.
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A process of assessing the achievement of pre-determined goals and objectives through the
measurement of the following types of indicators inputs processes of delivery of activities and
services outputs, and outcomes.
Armstrong and Baron(1998) defined it as A strategic and integrated approach to increasing the
effectiveness of organizations by improving the performance of the people who work in them
and by developing the capabilities of teams and individual contributors.
Performance management is The development of individuals with competence and
commitment, working towards the achievement of shared meaningful objectives within an
organization which supports and encourages their achievement(Lockett).
Performance management is the process of directing and supporting employees to work as
effectively and efficiently as possible in line with the needs of the organization..(Walters)
Performance appraisal is a systematic periodic and impartial rating of employees excellence in
matters pertaining to his present job and to his potentialities for a better job.(Flippo)

1.4.3Benefits of PMS:-
1. Performance management is key tool of any enterprise.
2. One can keep track of all employees activities.
3. Deduction of all holidays in months to calculate salary of employees.
4. Performance management system meets both the requirement of management and
employees.
5. Professional reviews form was designed to make employees understand the
process and significance of performance management system.

1.4.4 Literature review:-
According to Armstrong (1995: 429) performance management is a means of getting better
results from an institution, teams and individuals by understanding and managing performance
within an agreed framework of planned goals, standards and competence requirements.

Cardy and Dobbins (1994: 2), on the other hand, define performance management as a formal
and systematic process by means of which the job-relevant strength and weakness of employees
are identified, measured, recorded and developed. Although performance management may
sound as if it has the same meaning as a performance management system, they are different.

ILARM in its journal in June 2000, volume 1 signified that International Journal of Advanced
Research in Management (IJARM), ISSN 0976-6324(print), issn 0976-6332(online), reveals
about PMS by reviewing 120 questionnaires that , the training and development program
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conducted by the company helps the employee to develop their potential skills to achieve their
given task effectively and efficiently. The critical incident diary incident method helps the
managers to rate the employees performance accurately, where in future 360degree appraisal
and self appraisal are to be implemented. The feedback given by the superiors helps them to
know their strong area and to improve their weak area. The employees are satisfied with their
existing performance management system in their organization where some more modifications
can be done to enhance its effectiveness.

According to Bitici, Carrie and McDEVITT, it is the objective of that process to provide an
integrated control system, where the corporate and functional strategies are developed to all
business processes, activities tasks and personnel and feedback is obtained through the
performance management system to enable appropriate management decisions. The ultimate
purpose of that process is to improve company performance.

Andre A. de Waals, Vincent coevert, (2007). The effect of Performance management on the
organization results of a bank, International Journal of productivity and Performance
management, Vol. 56 Iss:5/6, pp 397 416. Performance data of the branch, before and after
introducing a new performance management system, were collected and the results of actions
taken by managers in the commercial divisions of this bank, to improve performance
management, and the results of their responsibility areas were observed. The striking issue in this
case study is the different effects the introduction of the new performance management system
had in the two commercial divisions of the bank branch. After analysis, it turned out that this
difference was due to the way the new system was used. The divisional manager of the Business
Clients division paid virtually no attention to the behavioral factors of importance to the
successful implementation of performance management; with detrimental effects The main
limitation is that the research concerns a case study in which only one fairly small organization
has been the subject of investigation. Whether the same effects of performance management can
be found in other, bigger organizations remains to be studied.

20

Chapter 2:
Methodology of the study
2.1 Statement of the problem:-
The study will discuss usefulness of formal performance management system and their
effectiveness in jainam share consultancy firm.
2.2 Research objectives:-
The primary objective of the study Is to study the effectiveness of performance management
system in the Jainam Share Consultancy firm.
And the secondary objectives are:-
1. To study role of performance management in the organization.
2. To analyze the employees perception towards working climate of the Jainam.
3. To discuss the impact of performance management on the managers of jainam.
4. To study the present PMS system.
5. Find out the need for Training and Development.
2.3 Research methodology:-
Research methodology is a systematic design, collection, analysis & reporting of data findings,
relevant to appraisal specific personal situation facing the company. Research methodology
describes the research procedure covers the following points.
1. Research design
2. Data collection method
3. Sampling plan
2.3.1 Research design:
Research design is the plan, structure and strategy of investigation conceived so as to obtain
answers to research questions and to control variance.
There are three types of research design
1. Exploratory
2. Descriptive
3. Causal
For the project descriptive research design has been adopted.

21

2.3.2 Data collection sources:
There are two sources of data:
1. Primary data
2. Secondary data
For project both, primary source of data are taken into consideration.
2.3.3 Data collection procedure:
For collection of primary data following methods can be used.
1. Observation
2. Experimentation
3. Questionnaire
4. Interviewing
5. Case study method
For project, structured questionnaire method is used.

2.3.4 Types of questionnaire:
1. Open ended questions.
2. Dichotomous questions.
3. Multiple choice questions.
Here, open ended and multiple choice questions are used.
2.3.5 Sampling plan:
When only some representative items of a population are selected and data are collected
only from those selected items then this method is known as a sampling.
2.3.6 Types of sampling design:
1. Sample survey
2. Census survey
Here, census survey is used
2.3.7 Sample size:
It is the basic unit of population to be sampled. Here the size of 80 respondents are taken
out for carrying out research.
2.3.8 Data Analysis Tool:
22

To minimize manual work of calculation help of computer has been taken. The work done on
graphical aids like bar chart and tables etc. have been prepared for a better understanding and
interpretation of data for these Microsoft word and SPSS software are used for the research.
2.4 Variables of the study:-
Formulation of goals and objectives Quality of work
Adaptability Job knowledge
Reliability Initiative

2.5 Scope of the study:-
1. Develop a means of coordinating work so that the aims and objectives of Jainam share
consultancy firm and the individual job roles are aligned.
2. Develop a two way process of communication and share a understanding of roles and
responsibilities.

2.6 Limitations of the study:
1. This research could be carried at head office only so cant get the satisfaction level
and performance level of all the employees.
2. There is a possibility that the respondents might have responded in a casual and
random manner.

23

Chapter 3:
Data analysis:-

3.1 Does your organization operate a formal PMS?

Does your organization operate a formal PMS?
From the above graph we can interpret that, in Jainam share Consultancy firm, 77.5% of the
population i.e 62 employees, managers etc are covered under formal performance management
system while 22.5% i.e 18 people are not covered under formal performance system.

Does your organi zation operate a formal PMS?

Frequency Percent Valid Percent
Cumulative
Percent
Valid yes 62 77.5 77.5 77.5
no 18 22.5 22.5 100.0
Total 80 100.0 100.0

24

3.2 If yes, which of the following groups do these processes apply
to?

If yes, which of the following groups do these processes apply to?
From the above graph we can interpret that the there are 39 senior managers which includes sr.
executives also than 29 other managers/ team leaders , 2 technicals , 10 professionals such as
chartered accountants, lawyers etc, and 1 blue collar .

Cumulative
Percent
Valid senior manager 38 47.5 47.5 47.5
other managers/ team
leaders
29 36.2 36.2 83.8
technical/ clerical 2 2.5 2.5 86.2
professionals 10 12.5 12.5 98.8
manual/ bluecollar 1 1.2 1.2 100.0
Total 80 100.0 100.0

25

3.3 Does your PMS cover all employees under the function of:

Cumulative
Percent
Valid sales employees 6 7.5 7.5 7.5
H.R.employees 6 7.5 7.5 15.0
operation employees 4 5.0 5.0 20.0
finance employees 9 11.2 11.2 31.2
all of the above 55 68.8 68.8 100.0
Total 80 100.0 100.0

Do your PMS cover all employees under the function of:
From the above graph we can interpret that, according to their workers employees managers etc,
the PMS of Jainam share consultancy firm covers the function of sales employees is 7.5% i.e 6
employees agrees to that, well 6 agrees that it covers hr employees, 4 people agree that it covers
operation employees, 9 people agrees that it covers the function of finance well remaining all
agrees that it PMS covers the function of all the departments.

26

3.4 What is the purpose of PMS?

Cumulative
Percent
Valid to access the
performance(usefulness of
employees)
14 17.5 17.5 17.5
basis for reward(increment
bonus)
4 5.0 5.0 22.5
ascertain training and
development needs
8 10.0 10.0 32.5
all of the above 54 67.5 67.5 100.0
Total 80 100.0 100.0

What is the purpose of PMS?
From the above graph we can interpret that, according to 17.5% people i.e 14 workers think that
PMS in Jainam is used to access the performance of the employees, 5% of workers i.e 4 workers
think that it is used for the basis of reward, 10% i.e 8 people think it is used to ascertain training
and development needed on their performance basis while remaining 54 people think that PMS
in Jainam is used for all the basis to access the performance, rewards, to impart training and
development .

27

3.5 What are the techniques that are used in your organization for
assessing performance?

Cumulative
Percent
Valid observation 35 43.8 43.8 43.8
assessment and
development
20 25.0 25.0 68.8
enters 1 1.2 1.2 70.0
checklist 17 21.2 21.2 91.2
others 7 8.8 8.8 100.0
Total 80 100.0 100.0

What are the techniques that are used in your organization for assessing performance?
From the above graph we can interpret that, in some department they are observed by formal and
informal techniques of performance, so 35 people are covered under observation method of
performance for assessing performance, 20 people say that it is used with imparting training and
development sessions, 1 worker says that enter technique is used for assessing performance 17
people/ workers say that checklist method I used and 7 people says that other methods are used
for assessing performance.

28

3.6 Are the following processes a part of performance management systems?

Cumulative
Percent
Valid coaching 2 2.5 2.5 2.5
training and development 30 37.5 37.5 40.0
career management and
development
18 22.5 22.5 62.5
succession planning 13 16.2 16.2 78.8
plans 17 21.2 21.2 100.0
Total 80 100.0 100.0

Are the following processes a part of performance management systems?
From the above graph we can interpret that, according to workers, training and development is a
majorly a part of PMS in Jainam according to their workers as 37.5% agrees to that , than 22.5%
people says that career management and development is a main motto of PMS, 2 people agrees
that it is coaching a part and 13 people agrees that it is for succession planning, well 17 people
still agrees that plans are also a part of PMS.

29

3.7 Do you think HR PMS helps your company in?

Cumulative
Percent
Valid increasing profits 19 23.8 23.8 23.8
increasing sales 1 1.2 1.2 25.0
reducing HR turnover 26 32.5 32.5 57.5
increasing HR suggestions 8 10.0 10.0 67.5
increasing HR motivation 26 32.5 32.5 100.0
Total 80 100.0 100.0

Do you think HR PMS helps your company in?
From the above graph we can interpret that, PMS in Jainam helps the company in reducing HR
turnover and increasing HR motivation is the most frequent answer given by their workers/
employees. Then 19 people say that it is even used for increasing their profits. 8 people says that
it is used to increase HR suggestions also.

30

3.8 Indicate which of the following methods of performance appraisal form a
part of your system?

Cumulative
Percent
Valid written essay method 3 3.8 3.8 3.8
ranking method 19 23.8 23.8 27.5
360 degree appraisal 6 7.5 7.5 35.0
self appraisal 9 11.2 11.2 46.2
critical incident method 13 16.2 16.2 62.5
behavioral assessment
(BARS)
16 20.0 20.0 82.5
paired comparison 5 6.2 6.2 88.8
forced distribution method 6 7.5 7.5 96.2
balance score card 1 1.2 1.2 97.5
others 2 2.5 2.5 100.0
Total 80 100.0 100.0

Indicate which of the following methods of performance appraisal form a part of your system?
From the above graph we can interpret that, 23.8% i.e 19 people says that ranking method is
used for PMS, 16 people say that BARS ( behavioral assessment ranking ) is used, 13 people
says that critical incident method is used to assess their performance , and others some say that
31

written essay method, 360 degree appraisal methods are used. Well this method sometimes
depends upon the different departments, in some department some methods are convenient and
vice versa. Therefore the methods are accordingly decided.

3.9 Does one gains opportunity to participate in KRA activities?

Does one gains opportunity to participate in KRA activities?
From the above graph we can interpret that, 38.8% i.e 31 people strongly agrees that one gains
oppturnity to particpate in KRA activities, well 28 people just agrees that it helps to gain
oppurtunity while 13 people remains neutral and 8 people disagree that it doesnot help to gain
KRA activities oppurtunity.

Cumulative
Percent
Valid strongly agree 31 38.8 38.8 38.8
Agree 28 35.0 35.0 73.8
Neutral 13 16.2 16.2 90.0
Disagree 8 10.0 10.0 100.0
Total 80 100.0 100.0

32

3.10 Does one get to know their defined goals and objectives?

Cumulative
Percent
agree 32 40.0 40.0 81.2
neutral 12 15.0 15.0 96.2
disagree 2 2.5 2.5 98.8
strongly disagree 1 1.2 1.2 100.0
Total 80 100.0 100.0

Does one get to know their defined goals and objectives?
From the above graph we can interpret that, 41% i.e 33 people strongly agrees that one gets to
know their defined goals and objectives, 32 people just agrees that they get to know their
objectives and goals . well 12 people have neutral thought about this and 3 people disagree that
one do not get to know about their goals and objectives.

33

3.11 Does one can get timely and accurate feedback on performance due to
PMS?

Cumulative
Percent
agree 23 28.8 28.8 60.0
neutral 28 35.0 35.0 95.0
disagree 3 3.8 3.8 98.8
strongly disagree 1 1.2 1.2 100.0
Total 80 100.0 100.0

Does one can get timely and accurate feedback on performance due to PMS?
From the above graph we can interpret that, the most answer given is neutral about timely and
accurate feedback, 28 persons remains neutral, 25 workers strongly agrees that they are provided
with timely feedback, 23 workers also agrees and 4 workers disagrees.

34

3.12 Is appraisal process completely objective then PMS?

Cumulative
Percent
agree 28 35.0 35.0 57.5
neutral 31 38.8 38.8 96.2
disagree 3 3.8 3.8 100.0
Total 80 100.0 100.0

Is appraisal process completely objective then PMS?
Form the above graph we can interpret that, appraisal process is not objective rather not
subjective as answered by the workers, because majority of the employees have remained
neutral. But still a good percentage of workers still agree that appraisal process is objective then
PMS in JAINAM.

35

13.3 Is promotional decisions of an individual is linked with PMS?

Cumulative
Percent
agree 30 37.5 37.5 80.0
neutral 11 13.8 13.8 93.8
disagree 5 6.2 6.2 100.0
Total 80 100.0 100.0

.
Is promotional decisions of an individual is linked with PMS?
From the above graph we can interpret that, in JAINAM PMS is used to take promotional
decisions of an individual as 64 workers i.e 80% workers agrees to that.

36

3.14 Is appraisal process is fair and transparent?

Cumulative
Percent
agree 28 35.0 35.0 62.5
neutral 14 17.5 17.5 80.0
disagree 16 20.0 20.0 100.0
Total 80 100.0 100.0

Is appraisal process is fair and transparent?
From the above graph we can interpret that, 35% employees that is 28 employees agree that
appraisal is fair and transparent, 22 people strongly agrees that it is fair and transparent while 14
employees remain neutral and 16 people disagree that the firm does not have a fair and
transparent appraisal system.

37

3.15 What is your sex?

Cumulative
Percent
Valid male 49 61.2 61.2 61.2
female 31 38.8 38.8 100.0
Total 80 100.0 100.0

What is your sex?
From the above graph we can interpret that, there are 49 male employees working and 31 female
working in Jainam share consultancy firm.

38

3.16 What is your age?

Cumulative
Percent
Valid less than 25 8 10.0 10.0 10.0
25-35 66 82.5 82.5 92.5
36-45 5 6.2 6.2 98.8
46+ 1 1.2 1.2 100.0
Total 80 100.0 100.0

What is your age?
From the above graph we can interpret that, there are larger youth working in the firm whose has
age between 25 35 years. And company even recruits new comers.

39

3.17 What is your designation?

Cumulative
Percent
Valid Sr. executive 17 21.2 21.2 21.2
Jr. executive 6 7.5 7.5 28.8
executive 20 25.0 25.0 53.8
sr. manager 10 12.5 12.5 66.2
manager 15 18.8 18.8 85.0
asst. manager 8 10.0 10.0 95.0
dealer 4 5.0 5.0 100.0
Total 80 100.0 100.0

What is your designation?
From the above graph we can interpret that, there are 17 sr. executives, 26 jr.
executive/executives/ team supporters, 10 sr. managers, 15 managers, 8 asst. managers/team
supporters, 4 dealers at HEAD OFFICE OF JAINAM.

40

3.18 How many years of experience do you have?

Cumulative
Percent
Valid less than 1 year 25 31.2 31.2 31.2
2-4 years 34 42.5 42.5 73.8
5-7 years 12 15.0 15.0 88.8
more than 7 years 9 11.2 11.2 100.0
Total 80 100.0 100.0

How many years of experience do you have?
From the above graph we can interpret that, more of workers have the of 2-4 years in or outside
the organization , there are even employees who have experience of 5-7 years and working with
Jainam and there are 9 employees who have experience of more than 7 years with working of
Jainam.

41

3.19 Which of the following economic sectors best describes your
organization?

Cumulative
Percent
Valid private sector-service 80 100.0 100.0 100.0

Which of the following economic sectors best describes your organization?
From the above graph we can interpret that, it is clearly noted tha Jainam share consultancy firm
is a private sector service firm.

42

3.20 Approximately how many people are employees in your organization?

Cumulative
Percent
Valid 101-500 80 100.0 100.0 100.0

Approximately how many people are employees in your organization?
From tha above graph we can interpret that there are 101-500 employees employed in whole
Jainam firm.

43

Chapter 4:
Findings and Conclusion

4.1 Findings

1. First of all, Jainam share consultancy firm is a private-sector service firm and has 101 to
500 employees working amongst them most are young employees having experience of 2
to 5 years.
2. The company operates formal PMS for some of departments only which covers a certain
number of employees such as Sales, HR, Finance, Admin and operation employees.
3. The purpose of PMS is to access the performance of employees, it is basis for reward,
imparting training and moreover to attain all the goals and objectives of the organization.
4. Observation is used mostly as a technique for assessing performance.
5. Mainly training and development is considered a major part of Jainams PMS.
6. HR PMS helps Jainam in reducing HR turnover and increasing HR motivations which is
used to build up co operation within the top level managers and bottom level employees.
7. There are different methods used in different departments to measure PMS, in some
departments behavioral assessment (BARS) is used well is some departments critical
incident is to be used.
8. Employees here think that they a great opportunity to participate in KRA activities.
9. PMS helps in clearly defining goals and objectives and achieving it.
10. Most of employees think that they dont get timely feedback on their performances.
11. Individuals promotional decisions are purely based on their performance, which they
perform to achieve their targeted goal and even on their KRA activities.

4.2 Conclusions:-
Therefore from this research we may conclude from the findings that there is
effective Performance Management System is running in Jainam share consultants
pvt. Ltd. But it should be made formal in all the departments and it should biased on
the basis of performance.

Therefore performance management system is a activity in which the employees,
managers, workers are reviewed on their KRAs and then they are rewarded,
promoted on that basis. With this the level of employees also increases and their
morale to work also increases.

So PMS is effective at Jainam share consultancy, and is very useful in decreasing
employee turnover and increasing productivity of the company. Even the employees
remains satisfied with their job. So , finally PMS is much useful and effective. They
are provided with training and development learning to improve their abilities , even
managers are mostly satisfied.

44

Recommendations:-

1. PMS in Jainam share consultancy firm should be made formal for all the departments
and employees.
2. KRAs should be equally distributed amongst the department/ employees.
3. At the time of increment overall performance should be generated.
4. PMS policy should be same for all employees and no discrimination should be done
according to head of department.
5. PMS in the company should provide time to time feedback and transparency should
be maintained
6. Techniques used in corporate sector must be implemented in the organization also.
The organization must adopt online and computer techniques.
7. Observation team should work without being biased.
8. Employee should be given proper knowledge about PMS, so that they can take
benefit of that.

45

Bibliography
Books/Journals Referred:
ILARM in its journal in June 2000, volume 1 signified that International Journal of
Advanced Research in Management (IJARM), ISSN 0976-6324(print), iss 0976-
6332(online)
Andre A. de Waals, Vincent coevert, (2007), The effect of Performance management on
the organization results of a service sector, International Journal of productivity and
Performance management, Vol. 60 Iss:5/6, pp 397 416.
T V Rao, sage 2004, Performance Management and Appraisal Systems: HR Tools for
Global Competitiveness

Links:
http://www.slideshare.net/iaemedu/effectiveness-of-performance-management-system
http://www.tlrp.org/project%20sites/Learningaswork/High%20Performance%20Manage
ment.pdf
http://freepdfdb.org/pdf/chapter-2-literature-review-on-performance-management
http://shodhganga.inflibnet.ac.in/bitstream/10603/3705/13/13_chapter%203.pdf
http://humanresources.about.com/lr/performance_management/1869092/1/
http://www.google.co.in/search?biw=1280&bih=923&q=research+proposal+on+perform
ance+management&revid=810905457&sa=X&ei=GInbUZbGMMerrAeq24CwAQ&ved
=0CHk
http://www.slideshare.net/riepsa/performance-management-15130861
http://www.hr-survey.com/PerformanceManagement.htm

46

Annexure
Questionnaire
The objective of this survey is to understand current practices in the entire area of
performance management, including performance planning and evaluation,
development and career planning, feedback, coaching, training and development
in JAINAM share consultancy firm.

1. Does your organization operate a formal performance management system?
a) Yes b) No
2. If yes, which of the following groups of employees do these processes apply to?
a) Senior Managers b) Other Managers/team leaders
c) Technical/ Clerical d) Professionals
e) Manual/ Blue Collar
3. Does your PMS cover all employees under the functions of:
a) Sales Employees b) H.R. Employees
c) Operation Employees d) Admin Employees
e) Finance Employees f) All of the above
4. What is the purpose of Performance Management System?
a) To access the performance (usefulness of employees)
b) Basis for reward (increment bonus)
d) Ascertain training and development needs
e) All of the above
5. What are the techniques that are used in your organization for assessing performance ?
a) Observation b) Assessment and Development C) enters d) Checklists
e) Others pls. specify ___________________________________
6. Are the following processes a part of your performance management systems ?
a) Coaching b) Training and development
c) Career management & development d) Succession planning
e) Plans
7. Do you think that HR Performance Management System helps your company in
a) Increasing Profits b) Increasing sales
c) Reducing HR turnover d) Increasing HR suggestions
e) Increasing HR Motivations
47

8. Please indicate which of the following methods of performance appraisal form a part of
your system?
a) Written Essay method f) Critical Incident assessment
b) Graphic rating scales g) Behavioral Assessment (BARS)
c) Ranking method h) Paired Comparison Method
d) 360 degree appraisal i) Forced distribution method
e) Self appraisal j) Balance Score card
k) Any other pls. specify_____________________
9. Rate accordingly what one gains due to PMS.
Strongly
agree
Agree Neutral Disagree Strongly
disagree
Opportunity to
participate in KRA
activities

Clearly defined goals and
objectives

Timely and accurate
feedback on performance

Appraisal process is
completely objective

Promotional decisions are
linked to performance

Appraisal process is fair
and transparent

10. If yes, in what aspect of performance management would you introduce the
change?
_________________________________________________________________________
_________________________________________________________________________
________________________________________________________________________
11. Are there any other comments you would like to make about your performance
management arrangements not covered in the questions above?
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________

48

Personal information:-

1. Sex: a) Male b) Female

2. Age group: a) 25 35 b) 36-45 c) 46+

3. Designation : _______________________
4. Experience
a) Less than 1 year b) 2-4years c) 5-7 years d) More than 7 years

5. Which of the following economic sectors best describes your organization ?
a) Public Sector b) Private Sector- manufacturing
c) Private Sector Service d) others (pls. specify) _____________________
6. Approximately how many people are employed in your organization ?
a) Less than 100 b) 101-500 c) 501-1000 d) More than 1001

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