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IREDA Workshop on PMS/PRP at Visakhapatnam

IREDA's workshop on the Performance Management System and PRP in Visakhapatnam on August 31, 2012. Learn about PMS implementation, PRP structure, employee evaluation, skill development, and pay linked to performance. Discover IREDA's achievements and insights into renewable energy financing.

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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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