SUCCESSFUL PERFORMANCE MANAGEMENT SYSTEM A CASE STUDY OF PAKISTAN STATE OIL

Abstract

Performance Management System is an important factor that can motivate employees and transform their talent into a strategic business advantage by providing them ongoing coaching and feedback, if they obtain a minimal competitive advantage then will be awarded. A true PMS is ongoing effort of providing coaching and feedback, and also done multiple times employee’s evaluation in order to boost employee’s performance and motivation, employees gets fair performance appraisal and there is a direct and proper communication between employees and supervisor at the time of performance appraisal. This research has been conducted to know the performance management system and its impact on employee’s performance, motivation, job satisfaction and commitment being carried at Pakistan State Oil. Over the past few years a greater emphasis has been attached with performance management system and its effects on employees’ performance. Questionnaire was used to complete survey and interview and interpretation of data has been done on pie and bar charts with the help of percentages.According to results there has been given appropriate recommendation to Pakistan State Oil Company. In this project it’s find out that factors of performance management system effects on employees performance and motivation whether the employees are satisfied with PMS, this system improve their performance, that is flexible to adjust when getting ideas, also provide coaching and feedback regarding performance and helps in selecting KSA. Well not all employees are satisfied with this system because performance is measured on annual based, promotions are given after 4 to 5 years, performance rating is done with bell curve or forced distribution that’s why employees are not satisfied and job description is not properly defined and they have problem in selecting KSA(knowledge, skills and motivation). It’s suggested to this company to provide a proper communication, coaching and feedback regarding selecting KSA. Finally it’s also suggested them to use BARS for measuring performance and used semiannual performanceappraisal in order to increase employees’ performance, motivation and job satisfaction.