A Case Study on the Perception of Employees in Leading MNC’s (IT/ITES Sector) in India Regarding Performance Appraisal System and Proposing a Sustainable Performance Appraisal Framework for Indian Organizations to Lower Attrition Rate

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"Performance Appraisal is a systematic and periodic process of assessing the performance of employees in an organization with respect to certain organizational goals and objectives. Employees form a valuable asset to any organization and play a significant role in boosting its economic growth. So organizations are increasingly focusing on innovative appraisal techniques that not only help in employee retention but also align its strategy to performance management of its employees. A well constructed performance appraisal system motivates the employees and improves their productivity and retention. Reinventing the performance appraisal system is the need of the hour as the conventional devices suffer from many limitations and have become obsolete to the demands of today’s workforce. TCS’s scrapping of Bell curve model, GE’s new PD@GE, IBM’s Checkpoint and Adobe’s ‘give and receive’ feedback system are few among the many notable examples that hint the need for revamping the conventional appraisal techniques. This case study highlights on the appraisal techniques being used in most of the Indian organizations. A satisfaction online survey is being carried out on 36 employees working in leading MNC’s (IT/ITES) of India related to performance appraisal methods. From the findings, a sustainable appraisal framework is suggested for Indian organizations that will lead to increased employee satisfaction and retention thereby contributing to organizational growth."