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Partex Beverage Limited: At a GlanceMission:Vision: Origin:  Management:NamePosition in the company

Partex Beverage Ltd is a leading soft drink producer, they want to introduce a new and potential energy drink for the customer, that's they try to understand the current market of energy drink.

"Mission is to provide value at an economic cost, progress in diversity, and continue to contribute to the growth of industrialization in Bangladesh by being the market challenger."

"To offer unparalleled value to customer delight and enhance business productivity. We will also generate value for our capabilities beyond Bangladesh boarders, and deliver services and products globally."

In 1994, Mr. M. A. Hashem, Chairman of Partex Group visited an International Trade Exhibition in the USA, where he happened to meet the executives of Royal Crown Cola Co. International. From then on he started conceptualizing the idea of "RC" beverage brand in Bangladesh. With international brand name recognition and quality he expected that it would gain acceptability in the Bangladesh market.

Partex Beverage Limited would be management by board of director which is the following members:

Mr, M,  A, Hashem

Chairman

Mr, AzizAL- Kaiser

Vice Chairman

Mrs, Sultana Hashem

Director

Mr, Showkat Aziz

Director

Mr, Aziz Al- Mahmod

Director


The board of director  create all type of polices, prepares guideline and strategy for the company and the director and other top level employee support the decision and finally maintain all the operation day by day carefully in the company. The managing director of the company carefully look all event of Marketing, Finance, HRD, and several function of company day to day working performance and all the officer and staff of the company responsible to perform effectively.

1) Finance Manager: He is responsible and accountable for his position that is occurs all the day all type of financial transaction.

2) HR Manager: Here all type of job satisfaction of employees, employees job evaluation, salary distribute, new employees hire. All the decision he takes carefully.

3) BDM: Business Development Manager takes all the decision regarding sales department function in Partex Beverage.

4) Sales and Marketing Manager: All the function regarding sales distribution, sales channel, Advertising method, survey customer satisfaction level of Partex Beverage Limited.

5) Project Development Manager: There are several type of work that is driven through a project, here all type of decision and responsible is project manager


Performance Appraisal of Partex Beverage Limited

Performance appraisal is very important to find out the best performance and also performer. Performance appraisal is a process of setting work standards, assessing the employees' actual performance relative to those standards, and providing feedback to the employees with an aim of motivating and encouraging that person to eliminate performance deficiencies or to improve the performance level. Partex Beverage Limited has their own process to appraise the employees. They have two performance appraisal forms for assess and evaluate the employee's performance. This form requires employees name, employee ID, designation, department and basic salary information. Every employee has their individual job responsibilities and duties. 

Objective of Performance Appraisal:

  • Appraise the gap between actual and desired performance
  • Helps the management to control the organizational performance
  • Build the relation between superior-subordinate and management-employees
  • Identify the strengths and weaknesses of the individual 
  • Maintains record in order to determine compensation packages & wage structure 
  • Provide feedback to the employees regarding their past performance 
  • Review and retain the promotional and other training programs 
  • Reduce the grievance and depression of the employees

From this job description some major task of a particular employee is assessed under some weighted mark. An employee has many job responsibilities and his major tasks are taken for this appraisal system. Here every major task has certain weight and the line manager or supervisor check what the employee achieved after performing the duty. At this point the achievement considering the standard of work is noted. After this, the achieved mark is multiplied by the total mark assigned for the task. This is a common procedure and all major duties are measured by this process. Every employee of Partex Beverage Limited has their job description. They have to perform many job duties and responsibilities. For an example, human resource employee has some job responsibilities such as Recruitment, Selection, Training, Performance Management, Pay Plan, Benefit Plan, Exit Interview, and Final Settlement and so on. For example:

Major Task Performed

Weight

Achievement/ Performance (Out of 10 Marks)

Point

1. 

5%

8

5*8 = 40

2




3




4




5




6




7





To identify an employee's performance during the month above techniques are being used. At first, evaluator gives some weighted percentage against some major duties of an employee. Employees each task will be rated out of 10 marks. After that, it will be multiplied by weighted percentage. The total score of employees will be counted as their monthly performance level. After evaluating an employee's performance the supervisors, department head and employees give comments about the performance of that employee. They also give their signatures in the signature box. There is a field which is used by only the Human Resource department of Partex Beverage Limited. This technique helps the manager in evaluation of the performance of the employee. As,

  1. It takes time to complete the process. 
  2. Employees will identify their strengths and weaknesses. 
  3. This method needs some initial goals which will be compared against actual performance. 
  4. The rater may be influenced in individual the positive and negative questions. He can assign biased weights to the task performed by employees. 
  5. This method also is expensive and time consuming.
  6. It becomes difficult for the manager to collect, analyze and weigh a number of statements about the employee's tasks, characteristics and behaviors

Key Objectives of Partex Beverage Limited's Performance Policy:

  • Provide direction and clarify performance expectations and goals 
  • Share feedback and observations with the employee concerning job performance, both what is done well and what needs improvement 
  • Identifies training and professional development needs for career growth. 
  • A tool to provide reward in a systematic manner 
  • Reinforce core values and model behavior 6. Encourage performance and continuous learning

The performance review process is top-down. The individual employee and his or her superior will set the key Result Areas (KRA) targets. The KRA targets should be Specific, Measurable, Attainable, Realistic, and Time-bound. Make the target as elaborate and specific as possible. The target statement should contain enough details and broken into interim measures. Qualitative aspects of the target must be considered as well. 

  • An individual's KRA must not conflict with another's.
  • Both appraise and appraiser should agree on the KRAs and associated ratings.
  • KRA targets of all managers from grade 8 upwards must be approved by Group CEO after validation by Group HR.

Assessment and performance appraisal helps to maintain record in order to determine compensation packages, wage structure, salaries raises, extra benefit, bonus and other allowances. It also helps to assess and maintain the potential, present in a person for further growth and development, the strengths the weaknesses of employees helps to place right men on right job. Human resource of Partex Beverage Limited has their own assessment and performance appraisal method. Only Performance appraisal serves as a basis for influencing working habits of the employees and retains the promotional and other training programs. It is also the decider for all those probationary period employees as their performance history will help achieve them to be a permanent employee. As, they believe in pay for performance. So, performance appraisal provides the mechanism for them to make sure that those who do improved work receive additional pay. It develops the spirit of work and boosts the morale of employees. They use assessment form for actual evaluations. They have designed the assessments form, which is filled by the employee, his/her supervisors and the head of department. This assessment helps evaluating employees; they have divided the whole performance appraisal method in two sections: 

  • Assessment Form except Sales & Marketing
  • Assessment Form for Sales & Marketing Officials

Two different forms, but both of the forms are designed almost in the same way but with different method patterns regarding each one's job. The form is divided in different parts:

Assessment Form for Sales & Marketing Officials Only

Name:

ID:

Department:

Designation:

Present Grade:

Present Basic Salary:

Reporting to:

Station/Area:

Major Task Performed

Weight

Achievement (Out of 10)

Point

1.




2.




3.




4.




5.





Sales YTD( During Assessment Period):



Target:



Achievement:



Percentage %:


Supervisors Comment:

For use of HR Department only:


Assessment Form for all other Officials

Name:

ID:

Department:

Designation:

Present Grade:

Present Basic Salary:

Reporting to:

Station/Area:

Major Task Performed

Weight

Achievement (Out of 10)

Point

1.




2.




3.




4.




5.




Supervisors Comment:

Department Head's Comment:


Employees Comment:


For use of HR Department only:




Compensation/ Benefits of Partex Beverage Limited

Employee salary:

Partex Beverage Limited is committed about maintaining salaries and benefits that are fair to all employees and competitive in the local market place. The management monitors changes in the economy and salary market to ensure that overall compensation package is sufficient to attract, recruit and retain high quality staff within the financial capabilities of Partex Beverage Limited. At all times the management considers long term financial implications of changes in employee compensation as well as fairness to employees currently serving the company.



Principles of salary:

The compensation structure is framed with the objective to attract and retain high quality people. The guiding principles of the compensation policies are:

  1. Individual's background and Experience.
  2. External pay market levels and trends ( determined through compensation survey)
  3. Particular skills requirements of the company.
  4. Company's affordability.
  5. Company's statutory obligations.

Incentives:

Compensation fluctuates according to:

  • A pre-established formula.
  • Individual or group goals because group goals are different from individual goals.
  • Company earnings

An incentive adds to base pay: It controls costs because the employee is being paid for his/ her extra effort and for the benefits brought to the organization and it motivates employees.

Incentive pay categories:

  • Individual.
  • Group.
  • Company-Wide.

Individual incentive based on: 

  • Quality of work output. (How many units produced?)
  • Quality of work output (What was the quality of the product or service being produced or served)
  • Monthly sales. (How much sales was generated)
  • Work safety record. (How many hazard or errors are being reduced?)
  • Work attendance (If the absent is reduced or attendance is good)


 Group Incentives:

  • Customer satisfaction.
  • Labor cost savings.
  • Materials cost savings.
  • Reduction in accidents.
  • Services cost savings.

 Company- Wide:

  • Company profits.
  • Market share.
  • Sales revenue.

Sales Incentive:

  • Instead of performance bonus, field sales staff will the rewarded with quarterly sales incentive for their contribution to the company.
  • Incentive schemes for each business will be proposed by respective business head during budget preparation for the coming year. This scheme will require approval from the managing director and should be communicated to field force before beginning of the year.
  • Based of requirement of the business, head of business may propose and implement any change of the scheme subject to the approval of the managing director.

Provident fund:

The company has instituted provident fund for management staff.

  1. All Management employees will join the provident fund scheme after confirmation.
  2. Along with the confirmation latter Human Resource Department will send a provident fund joining and nomination form to the employee.
  3.  The provident fund will run on contributory basis, i.e. 10% of basic salary from the employee and equal amount from the company.
  4.  If any employee leaves the company, he/she will be entitled to the company's contribution only after 5 years from the date of confirmation, else, the employee will only be entitled to his/her own contribution.
  5. Company has formed a trusty committee to maintain the provident fund.
  6. Conditions with regard to provident fund shall be regulated as per the rules of the fund.

 Gratuity:

An employee shall be eligible for gratuity on leaving the company after continuous and confirmed service of at least 8 years to.

Insurance:

The company has instituted a fund for management staff which provides payment of death during service by any cause, except in the first twelve months of insurance.

  • Group life insurance is payable under any kind of death during service except in case of suicide.
  • Respective business/ department will pay equivalent to the payable insurance amount 

Medical benefits:

All employees of Partex Beverage will receive a monthly medical allowance as per respective grade of the employee. The allowance will be paid together with the employee's monthly salary and for this no receipt needs to be submitted. For special case of treatment, following are the additional support extended to the employee's.

Allowances and Incentives for Management and Other Employees & Sales and Marketing Department

Allowances

Management and Other Employees

Sales and Marketing Department

House Rent allowance (100% of basic)

Medical allowance (50% of basic)

Transport allowance (50% of basic)

Lunch allowance (Tk.1100 to Tk. 1500)

Utility allowance (50% of basic)


House Rent allowance (100% of basic)

Medical allowance (100% of basic)

Transport allowance (50% of basic)

Utility allowance (50% of basic)

Quarterly/Yearly:

Yearly Leave Fare Assistance. (60% of basic)

Yearly two festival bonuses. (100% of basic)

Yearly performance Bonus. (50% of basic)

Yearly workers participation Fund. (50% of basic)


Incentives/ Benefits

Management and Other Employees

Sales and Marketing Department

Provident fund.

Gratuity.

Group Insurance Policy.

Medical Benefits.



Quarterly/ Yearly:

Yearly Leave Fare Assistance. (50% of basic)

Yearly two festival bonuses. (100% of basic)

Yearly workers participation Fund.  (50% of basic)

Quarterly sales incentive. (Not fixed)

Long Term:

Provident Fund.

Gratuity.

Group Insurance Policy.

Question : from all the given information find the link between compansation and performance management of partex beverage ltd.and describe the link between performance management and compansation.

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Partex Beverage Limited: At a Glance Partex Beverage Ltd is a leading soft drink producer, they want to introduce a new and potential energy drink...
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