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FINAL PROJECT
PERFORMANCE &COMPENSATION MANAGEMENT
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Presented By
ABDUL NASIR ENAM
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OUR MISSION
To positively enhance the
quality of life of the people ofPakistan by all that we dothrough our people, our
brands and products and ourCore Shared Values activities.
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CORE VALUES
Transparency and honesty
in dealing with people are a sine qua non for efficientcommunication. This is complemented by open dialogue withthe purpose of sharing competencies and boosting creativity.
Communication
To communicate is not only to inform; it is also to listen and
to engage in dialogue.Flexible
The willingness to cooperate, to help others and to learn is a required basis for advancement and promotion within ourcompany.
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PERFORMANCE MANAGEMENT
SYSTEMDefinition:
Performance Management is a comprehensiveprocess
Good performance Management is based on
continuous, honest and constructive dialogue
between supervisors and employees
Goals and objectives should be SMART.
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AT NESTLE
Formal assessment by Line Managers and HRonce in a year with feedback.
Subordinate can question an unfair evaluation.
Specific Key Performance Indicators havebeen enlisted by the HR department.
One of the important key performanceindicators is achievement following the Nestlemanagement and leadership principles.
Remuneration structure and promotion criteriatake into account individual performance.
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PERFORMANCE OBJECTIVES
The performance Objectives is to ensure that employees list
the key performance priorities in a given performance year.
These objectives need to be aligned with the business and
manager objectives and should be discussed and agreed with
the manager.
As the level of performance achievement influences the level
of reward, visibility on how each employee can influence their
reward via their performance.
Short Term Bonus is influenced by level of performance .
In order to create a complete picture of an employee's
performance achievement in a given performance year,
managers and employees should also compete, as
achievement against these objectives will influence the
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PE 4 PHASES
Objective setting (Jan-Feb): Performance objectivesare agreed with the manager.
Interim Review (Jun - Aug): Review progress againstobjectives.
Calibration Meeting (Dec-Jan): Managementmeeting to ensure effective and equitable
performance evaluation across the organization.Year End Review (Dec-Feb): PE rating - evaluation ofachievement against objectives (What) and NestlBehaviors (How).
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THE 4 NESTLE BEHAVIOURS
Practice What You Preach,Result Focus,
Proactive Cooperation and
Initiative in the execution of your objectives
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BEHAVIOURAL CORE COMPETENCY
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Transparent performance appraisal
systems
and the freedom given to them to
question their seniors benefit not onlythe employees but even the
organization as a whole
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Reward Principles Performance Driven - The level of your Reward is linked to your
performance, hence the highest performers will see the greatestReward. There is also a direct link between the performance of
the business and the Reward we're able to offer
Competitive - We benchmark all aspects of Reward to ensure weoffer all our employee competitive Reward package
Inclusive - Our Reward program is designed to reflect the
valuable contribution which every employee makes, not justsenior managers
Flexible - We've made it our top priority to allow you to tailor the
Reward you receive toy our circumstances, whenever possible orpractical.
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REWARDS & INCENTIVES
Passion to Win awards- These quarterly awards have beeninstitutionalized to reward those who over-achieve their targets.
Long-service Awards- To recognize employees who have beenwith the company for more than 30 years.
Nestle Idea Award- It was found from the correspondent thatthe company institutes Nestle Idea Award every quarter to
recognize and award employees who come up with relevant andinnovative ideas which have the potential of being implementedat Nestle . For all aspects of Reward Nestle apply the fundamentalprinciples outlined below
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Achievement
level of performance achievement
will have a direct impact onemployees Salary Review and Short
Term Bonus (STB) pay out (if
applicable).
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Performance Development Guide
Development areas are found out on the basis of
dialogue between line manager and subordinate
Allows employees to improve his/her career goals,
strengths and development needs.
It helps the organization to develop a focused and
actionable development plan
Quality development of employee during appraisal
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NESTLE BEHAVIOURS
RATING SCALE
OBJECTIVES EVALUATION(WHAT):
Not achieved
Achieved
Exceeded
BEHAVIOURAL EVALUATION (HOW):
Does not meet standardsMeet standards
Exceed standards
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CONCLUSION
Nestle is the world leader in FMCG industry.
People trust on the products launched by the
company even the product is facing some
problems. Nestle today move for new strategies
to retain their customer and also want to get
new customer. Nestle enhance their internal and
external policies to satisfy their customers andalso their employees. HR plays a major role to
maintain Nestle status in the market.
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