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People Management & Performance in Contemporary Organisations - Essay Example

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The prime intent of this research study is to suggest a revised graduate selection process including time scale and estimated costs for Pearl and Mutual Benefit Insurance Company (PMIC) with the aim of lessening high attrition rate of graduate trainees. …
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People Management & Performance in Contemporary Organisations
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Download file to see previous pages From this study it is clear that an effective performance appraisal system should also be implemented that will rate the employees according to their performance. Thus, adopting all these measures, the company can reduce its high attrition rate of graduate trainees and continue the normal organisational activities with greater productivity.This report stresses that Pearl and Mutual Benefit Insurance Company (PMIC) is a financial service based organisation wherein higher rate of attrition of the employees has been witnessed. This can be justified with reference to the data produced at the end of the year 2014 revealing that 60% of the recruited graduate trainees have left the company for varied purposes such as change in career settings by shifting from one sector to other. One of the reasons behind this disturbing fact can be deemed as the persistence of inefficiency in the procedure of recruiting and selecting the trainees. It will be vital to mention in this similar concern that the recruitment procedure of PMIC must be structured in a strategic manner in order to select the potential graduates who would deemed fit with the company’s sales and hard driving oriented culture. In accordance with the provided data on the case study, it can be ascertained that several graduate trainees who have been expensively recruited as well as trained have not obtained high ratings for their respective performance during annual appraisalsa. ...Download file to see next pagesRead More
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