Examine the impact of the performance appraisal system on the employees at Apollo Tyres Limited
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This paper examines the impact of the performance appraisal system on the employees of Apollo Tyres. Citing a book titled "The Role of employee development in the Growth of intellectual capital", by Mayo, A. (2000), Human resources management is a significant aspect of an organization reason being machines cannot function as well as people this is so because humans can go as far as interacting with customers, being creative something that a machine cannot do without a person directing it. Human resource management has both practical and theoretical aspects which offer a scientific dimension and consistent efforts to help in improving the performance of the firm which has resulted in the carrying out of performance evaluation of both the employees and the human resources. Employees are part and parcel of an organization and therefore if one employee is not interested in the organization then his or her performance will be lacking to an extent that the firm may crumble therefore Human resources management is obligated to employ influential people who will work towards achieving the goals and objectives of the organization. The concept of performance appraisal systems is well known from the olden days but has seen most of the growth and development in the 20th century.
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Examine the impact of the performance appraisal system on the employees at Apollo Tyres Limited Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the meaning of performance appraisal system as it is used in organizations, its significance, and how it impacts the productivity of an organization
- Understand the impact of the performance appraisal system on the employees and productivity of Apollo Tyres and the various strategies that the company can use to improve the performance of its employees.
- Learn how to apply the performance appraisal system to any organization
1.0 INTRODUCTION
Apollo Tyres Ltd was incorporated in 1972 and it operates in the production and sale of tyres. The company has its headquarters in Gurgaon, India and it operates across Asia, Europe and Africa. Its products are available in over 100 countries among which are the most developed markets in Europe and America through a vast network of branded, exclusive and multi-product outlets. Apollo Tyres markets its products under two global brands namely; Apollo and Vredestein offering an inclusive product portfolio such as passenger cars, light trucks, truck-bus, off-highway and bicycle tyres to mention but a few. The annual revenue for the company in the financial year 2022 was $2.94 billion whereas its market capitalization as of May 2023 is $2.91 Billion.
Performance appraisal refers to the systematic assessment of an employee's performance at work and their general contribution to an organisation. This assessment aids in highlighting the strengths and weaknesses of an employee so as to improve future performance. This system is generally aimed at enhancing employee performance in an organisation. Employees whose performance appraisal is low are necessitated to go through a skill development programme so as to improve their performance and contribution to an organisation. This study aims at analysing the performance appraisal system of Apollo Tyres Limited, the motivating and de-motivating impacts of the system and to recommend the strategies and procedures that the company can employ to improve the performance of its employees.
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