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IREDA Workshop on PMS/PRP at Visakhapatnam

IREDA Workshop on PMS/PRP at Visakhapatnam. 31 st August, 2012. IREDA Highlights. NBFC as per RBI Classification Dedicated institution for Renewable Energy &Energy Efficiency Financing Recognized internationally –Multilaterals/ Bilaterals prefer working with IREDA

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IREDA Workshop on PMS/PRP at Visakhapatnam

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  1. IREDAWorkshop on PMS/PRP at Visakhapatnam 31st August, 2012

  2. IREDA Highlights • NBFC as per RBI Classification • Dedicated institution for Renewable Energy &Energy Efficiency Financing • Recognized internationally –Multilaterals/ Bilaterals prefer working with IREDA • Pioneer in RE&EE sector • Profit earning & dividend paying • ISO 9001:2008 Certified Company • Cumulative sanction Rs.18712 crores since inception (as on 31.3.2012) • Cumulative disbursement Rs.9723 crores since inception (as on 31.3.2012) • IREDA MoU achievement for the last 2 financial years i.e. 2009-10 & 2010-11 - ‘Excellent’ • Total Number of employees as on 31.3.2012 - 130 (Executives – 91 Non executives - 39)

  3. Performance Management System in IREDA • A Robust Performance Management System containing all the major requirements already in place and notified. • Fair and objective system of evaluation of PARs. • Evaluate the potential of the employee to assume higher responsibilities in the organization. • Determine the gaps in knowledge and skills and/or shortcomings/ failure during evaluation and how these can be filled through training and/or counseling. • Identify employees having skills development potential so as to suggest further training/ encouragement.

  4. Performance Management System in IREDA • PMS plays an important role for determine the Performance Related Pay. • Different Appraisal proforma for Non-Executives, Non-unionised Supervisors, Executives and functional Directors. • The appraisal proforma for E-8 level executives and functional directors, as per DPE norms • Appraisal evaluation on 5 scale parameters.

  5. PERFORMANCE RELATED PAY LINKED WITH PMS IN IREDA

  6. PERFORMANCE RELATED PAY LINKED WITH PMS IN IREDA • Notified a robust and transparent Performance Management System and Performance Related Pay system in line with DPE requirement. • The employees are rated on 5 scales parameter viz. OUTSTANDING, VERY GOOD, GOOD, AVERAGE AND POOR. • Constitution of ‘Moderation Committee’ to ensure compliance of Bell Curve Approach by defining Above Par, Par and Below Par employees. • PRP system introduced in IREDA from FY 2009-10. • 60% of PRP within the ceiling of 3% of PBT of current financial year. • 40% of PRP out of 10% of incremental profit.(increase in profit as compare to previous year’s profit). • Total PRP limited to 5% of the current year PBT.

  7. REMUNERATION COMMITTEE

  8. PRP DETAILS FOR 2009-10 AND 2010-11

  9. BELL CURVE GRAPH (2009-10)

  10. BELL CURVE GRAPH (2010-11)

  11. Indian Renewable Energy Development Agency Limited www.ireda.in

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