Apex inverters is a pioneer in the field of inverters and UPS systems. A small unit in 1992, the company started manufacturing inverters in 1997 and within the next five years evolved as a major power electronics company, ISO certified. According to the Vice President, operations, of the company the emphasis of the organization is on ‘WE’ and not ‘I’. The company smears by its team work. It strives to generate a challenging and professional work environment that will nurture talent. Exceeding customer expectations is their work culture. The main objectives of the annual performance appraisal are:
· To identify and assign major areas of responsibility.
· To identify exact contribution of the appraisee.
· To determine the unique strengths, weaknesses and potential of the appraisee.
· To assist in the personal and professional growth of the appraisal through self analysis, counseling and training.
· To give the appraisal an opportunity to discuss his/her growth prospects with the supervisor(s), develop an appropriate style of functioning, mould attitude and seek directions for further improvement.
Salary is not a constraint for the right person. The remuneration varies depending upon the candidate’s performance. The company claims that its turnover rate is merely 0.5 to 1% per year. According to the Vice President, the people are the strengths of the company. The emphasis is always on ‘ours’ and not ‘mine’ and this attitude helps in retaining the employees.
Questions
1. In your opinion, what is the major reason of the low employee turnover in the company?
2. Critically analyze the performance appraisal system of the company.
