Contents

• Introduction 3
• Performance Management and Rewards System 4
• Performance Management and Rewards System at Infosys 5
• Analysis of PMS and Reward System at Infosys and Recommendations 7
• Conclusion 8
• References 10

Description

Performance evaluation and rewarding has been practiced since long but has become more complex and innovative in today’s organizations. Organizations today have effective performance management systems, which are based on the emploees’ tangible and intangible contributions to the company. Reward is one of the main components of this system and it enhances the commitment level of the employees, which is essential for organizational success. Infosys, a leading software company in India has from the very beginning realized the importance of human resource and had introduced performance measurement method to encourage the employees to continue performing better. Consolidated Relative Ranking (CRR) is one the performance measurement method used by Infosys, which has a unique approach of measuring relative performance of employees within his or her group. Infosys also has another online tool called PerformMagic, which is a three step process where the performance of an employee is self assessed, assessed by team leader and the project manager. The company’s reward system includes monetary and non-monetary rewards. These approaches of performance management and reward systems have enabled the organization to get the best out of every employee.