Performance Review FY 2023-24 User Manual for HOD & HOC

[Virtual Presenter] The performance review process for fiscal year 2023-24 has begun. It is crucial to recognize the importance of employee engagement in driving organizational success. This user manual outlines the fundamental principles of human resource practices that cultivate a productive workplace, encourage professional development, and yield tangible outcomes. Let us delve into the realm of performance evaluations and collaborate to attain exceptional results..

[Audio] The performance review process commences with an email notification sent to all employees, informing them of their impending review. This notification serves as a reminder of the significance of regular feedback and evaluation. A concise overview of each employee's performance is presented in the summary section, showcasing key metrics such as job satisfaction, productivity, and goal achievement. This summary provides a snapshot of each employee's progress throughout the year. Managers then review and adjust the recommended increments based on individual performances on the appraisal screen. Following this, increments are confirmed, ensuring a fair and accurate assessment of each employee's work..

[Audio] Manager will receive an email from Rewards@lodhagroup.com in their mailbox. They should click on Let's Get Started, which will take them to a screen where they can set their password for the appraisal screen. Please use an eight-character password..

[Audio] Once you log in through Single Sign-On via PeopleStrong, click on More Apps and then select PAYREVIEW. After that, you will be asked to set a password for the appraisal screen, which should consist of at least eight characters..

[Audio] The appraisal summary provides a comprehensive overview of the performance review process. People covered by this review are 100 percent, with a total headcount of 13 employees. Data shared among them is 23.1 percent, indicating a significant amount of information has been exchanged. Twenty-five percent of inputs have been received from these employees, demonstrating their active participation in the review process. The salary index shows a median salary of 9.7 million, with a budget percentage utilized at 60.2 percent. This information gives us a clear understanding of the current state of our employee engagement and performance review process..

[Audio] The data reveals that we have successfully covered one hundred percent of our workforce, with thirteen individuals participating in this review process. The eligible headcount amounts to thirteen, signifying that every employee scheduled for appraisal has been taken into account. Moreover, we have shared twenty-three point one percent of our inputs received from nBRs, showcasing openness in our communication. Our salary index currently stands at nine point seven million, accompanied by a cost of seven hundred forty thousand. Furthermore, the budget percentage utilized thus far is seven point eight percent, leaving us with a remaining budget of three point one percent..

[Audio] The appraisal process has resulted in increment changes being made to the eligible headcount. Three employees have had their increments shared among them, with thirteen employees having received inputs from nBRs. The salary indexation amount stands at nine point seven million rupees, with a salary cost of seven hundred forty thousand rupees. The budget percentage utilized so far is three point one percent, leaving seven point eight percent remaining..

[Audio] The appraisal summary provides valuable insights into the performance review process. As seen, the final increment changes count has been calculated, giving a clear picture of the impact on the organization's salary structure. People covered represent 100 percent, with 13 eligible headcounts and a total headcount of 13. Data shared shows 23.1 percent of employees have received their increments, with 3 shared headcounts and 13 eligible headcounts. Inputs received indicate 25.0 percent of employees have received their increments, with 3 inputs received and 3 shared headcounts. The salary index has increased by 9.7 million, resulting in a salary cost of 740 thousand. The budget percentage remains at 3.1 percent, with remaining budget at 7.8 percent and utilized budget at 60.2 percent. By examining this tile, we gain a deeper understanding of the performance review process and its effects on the organization's finances and employee benefits..

[Audio] The median salary for associates mapped to HOD/Managers is 740 thousand rupees, representing the middle value of all salaries within this group. Additionally, on average, these managers have a salary of 740 thousand rupees as well. These numbers offer valuable insights into the compensation structure within our organization, enabling us to better comprehend employee compensation and identify potential areas for adjustment..

[Audio] The budget allocated to this team or department is 3.1 percent of the total budget, with a remaining amount of 4.7 percent. The utilized budget percentage stands at 7.8 percent, indicating that the team has consumed 60.2 percent of its allocated budget. The average salary index is 9.7 million, with a salary cost of 740 thousand. The shared headcount is 13, with 3 inputs received from the team members..

[Audio] The data shared shows that 23.1 percent of the total budget has been utilized thus far, which amounts to 460 thousand rupees. This substantial allocation represents a considerable portion of our overall budget. To maintain fiscal responsibility, it is crucial that we monitor these expenditures closely to avoid exceeding our allocated limits..

[Audio] Our Business Review Dashboard provides a visual representation of our company's performance and progress. We have achieved 100% of our targeted goals, which is a significant accomplishment. Our people coverage stands at 9.7 million, indicating a strong employee base and high human resource engagement. The salary cost is 740K, which aligns with budgeted expectations, demonstrating efficient resource allocation and financial management. Data sharing accounts for 23.1%, reflecting transparency and open communication within the company. Budget usage stands at 3.1%, showing effective utilization of resources. Additionally, we have received 25% of our input from employees, highlighting a culture of employee involvement and valuing their opinions and ideas. Overall, our budget consumption is 60.2%, indicating effective use of resources and responsible budgeting..

[Audio] As we navigate the appraisal process, we find valuable insights into an employee's current compensation package on the Appraisal tab. This includes their current salary and proposed salary, along with the compa ratio, which identifies discrepancies between the employee's salary and industry standards. We also notice the revised increment field, where we can adjust the suggested increase based on our assessment of the employee's performance. With these details, we're well-equipped to make informed decisions during the review process..

[image] Appnisals (7.56972 Tot.' 56349%. Appraisal screen.

[Audio] The performance review process aims to guarantee transparency and fairness in assessing employee performance. A notable aspect of this process is the budget utilization during the merit process. Notably, 60.2 percent of the budget has been consumed, indicating a considerable allocation of resources towards recognizing exceptional employee performance. This data enables us to grasp the influence of our budget on the overall performance review process. By examining these figures, we can pinpoint areas requiring adjustments to optimize budget allocation and ensure deserving employees receive recognition..

[image] Appnisals t7.56,972 (2 Tot.' 56349%. Appraisal screen.

[Audio] The appraisal process evaluates individual performance against specific criteria. The performance ratings are important in determining the next steps of the appraisal. Each employee has been given a rating based on their performance, which can be rearranged by clicking and dragging. Let's examine the performance ratings and their impact on the appraisal's final result..

[Audio] The appraisal data for each employee should be reviewed and analyzed to assess their performance. Clicking on the button allows downloading the data in Excel format, enabling evaluation of individual metrics like salary index, budget percentage, and inputs received. This facilitates identifying strengths and weaknesses, informing decisions on promotions, increments, and personnel actions, ensuring alignment between organizational goals and employee performance expectations..

[Audio] As we navigate this appraisal screen, we notice the ability to filter data based on various preferences, allowing us to tailor the review process to specific needs and requirements. Clicking on these filters refines search criteria and focuses on the most relevant information. Filtering data helps make more informed decisions and streamlines workflow whether reviewing individual performance or analyzing team trends..

[Audio] As we navigate this appraisal process, it's essential to have the flexibility to tailor our approach to specific needs. We're providing various filter options to help us focus on the data that matters most. By selecting these filters, we can drill down into the information that's relevant to our goals and objectives, making it easier to identify areas for improvement and track progress over time. With these filters in place, we'll be able to gain a more nuanced understanding of our performance and make informed decisions about how to move forward..

[Audio] To further refine our search results, we can select specific values from these sub-filter options. This allows us to drill down into the data and view only the information that's most relevant to our needs. By doing so, we can gain a more accurate understanding of the performance review process and identify areas where we may need to focus our attention..

[Audio] The appraisal process enables us to evaluate employee performance throughout the year. To ensure continuous growth, it's crucial to provide regular feedback and guidance on their progress. The appraisal summary screen displays key statistics, including data shared, inputs received, and salary index. Additionally, we can view the budget percentage utilized and remaining. By searching for individual records, we can access detailed information about each employee's performance, identifying areas requiring additional support or development opportunities. This information facilitates collaboration with employees to develop personalized plans for growth and improvement..

[Audio] To navigate to an employee's past performance management history, clicking on the arrow sign located next to their name allows you to view their previous appraisal records, including their performance ratings, salary increments, and other relevant details. Accessing this information enables you to gain valuable insights into an employee's career progression and identify areas where they may require additional support or development opportunities..

[Audio] The appraisal screen displays various fields including grade, performance rating, existing salary, recommended percentage, recommended salary, revised increment, revised salary, and review status. Grade refers to the employee's level or rank within the organization, while performance rating measures their performance during the review period. Existing salary is the current pay received by the employee, serving as the baseline for calculating the recommended percentage increase. Recommended salary is the proposed salary increase based on the performance rating and other factors. Revised increment is the calculated percentage increase to the employee's current salary, while revised salary reflects the employee's updated compensation package. Review status indicates whether the review is still in progress or has been completed..

[Audio] Managers can modify the recommended increment percentage on the Change screen, where suggested values from HR are displayed alongside any revisions made by the business manager. Managers can adjust these figures to suit their needs, ensuring a more accurate assessment of employee performance. Furthermore, they can download the appraisal data in Excel format for further discussion and analysis..

[Audio] Managers have the flexibility to change or adjust the recommended increment by modifying the revised increment percentage, increment amount, or revised salary value. This allows for a more personalized and tailored approach when it comes to rewarding employees for their performance. The revised increment percentage refers to the percentage of increase in salary for the employee, which can be adjusted to reflect the individual's performance and contribution to the organization. The increment amount is the actual monetary value that the employee will receive as a raise, which can be modified based on various factors such as cost of living, market trends, or budget constraints. The revised salary value is the final salary that the employee will receive after the recommended increment has been adjusted, which can be changed to align with the organization's compensation and benefits structure or to reflect the employee's performance and potential. Managers must carefully consider and evaluate all aspects before making any changes to the recommended increment, ensuring a fair and transparent process..

[Audio] As we move forward with the appraisal process, it's essential to ensure accuracy and completeness of the records. Selecting all options before submitting the record helps prevent any discrepancies or omissions that may arise during the evaluation process. This ensures transparency and fairness throughout the entire assessment. Proceeding with caution and attention to detail guarantees a smooth and successful outcome..

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Thank you.

[Audio] We would like to express our gratitude to everyone for their attention during this user manual presentation. We acknowledge that reviewing increment numbers and letters may require significant time and effort, but we appreciate your dedication to completing this process promptly. This enables us to maintain a smooth and efficient performance review process. Thank you once more for your cooperation, and we wish you all the best in your future pursuits..