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Performance Management Practices in IT Industry in India– An Empirical Case Study

Rose V J1, R.Vasanthagopal2 and Suleena V. S3

1Assistant Professor, Vimala College, Thrissur, Kerala, INDIA. 2Assistant Professor, School of Distance Education University of Kerala, Thiruvananthapuram-695034, Kerala, INDIA. 3Associate Professor, St.Joseph’s College for Women Allappuzha, Kerala 688001, INDIA.

ABSTRACT

Performance Management developed with the specific purpose of aligning individual goals with the organisation’s objectives, during the past two decades as a deliberate, integrated process that bring together aspects like goal setting, performance appraisal and development. Performance management is concerned with how people work, how their performances can be managed to brings about development both to the individual as well as the organisation. Financial measures have always been used to evaluate corporate performance especially since industrial revolution. However, it has been realised that non-financial measures also affect the corporate performance, particularly of technology and knowledge age corporations. Consequently a number of management practices have evolved which takes into account both financial and non-financial measure to evaluate corporate performance. This paper presents an insight as to the prevailing performance management practices in the IT industry in Kerala. The paper analyses the performance practices in the IT industry, from the management and employee perspective based on certain key non financial drivers.

Keywords :Balanced scorecard, Non financial drivers, Performance management, Software technology, Special economic zone.