Performance Appraisal Process at Larsen & Toubro Construction |
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EXCERPTS |
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| The performance appraisal processes at L&T Construction were called FAIR – an acronym for ‘Framework for linking Appraisal with Incentives and Rewards’. According to the company’s guidelines, the performance appraisal before April 2018 required the employees to discuss their key value drivers (KVDs) with their supervisors and to seek help from them in finalizing the KVDs. It was necessary for the supervisors to incorporate the KVDs for the year in the company portal for staff members in Tier-I, II, & III to enable formalization of the KVDs and to also to track, monitor, and support the achievement of the KVDs of their subordinates...
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| From April 2018, the Performance Management System (PMS) at L&T was no longer conducted using the traditional EIP method. A new PMS was introduced which was the same for all the employees irrespective of their cadre. According to the company, this was done to rule out bias and to give all employees fair and equal opportunities for performance review. The PMS used ‘Myzone’, an app of SAP Successfactor . Myzone was specifically designed for the purpose of PMS and had several levels... |
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| Sheel had just one week to go before she had to submit her report to her company mentor. She felt she had learnt a lot about the performance management process since she had started working on the assignment. While doing her assignment, Sheel also observed that L&T used the bell curve to assess the performance of its employees... |
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Exhibit I: Key Financials of Larsen & Toubro (2016-2019)
Exhibit II: Covenanted Employees
Exhibit III: Non-covenanted Employees
Exhibit IV: Some Performance Assessment Tools |
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