A performance management system is a holistic way of managing employees in accordance with their skills, training, and motivation levels for the optimal performance of an organization. It is a technique of measuring, evaluating, training, mentoring, and rewarding employees, teams, and departments within an organization. It is based on the principle that human resources are the only continuously developing asset within an organization and an organization can perform effectively only if its employees are job-enriched, motivated, and satisfied. This approach is an excellent way of supporting talented employees and cultivating future leadership.

The Corporate Human Resources Department of Vectra Group India is conducting workshops on performance management system.

They have already conducted workshops for Vectra Group of Companies in India

The workshops were held in three cities in India:

- Mumbai, 22 December 2010: with 18 managers and heads of department.

- New Delhi, 6–7 January 2011: with 28 participants in three batches. One session was exclusively for senior management (CEO, COO, CFO). The second was for functional heads. The third was for senior managers of Indocopters, VAEPL, and Vectra Engineering Materials Pvt Ltd.

 - Bengaluru18 January 2011: with 22 participants
All the workshops covered the following areas in details:

• Understanding Goal Setting
  
• Need and Importance of Goal Setting
  
• How to Set Goals
  
• Identifying Key Result Areas (KRAs) and Key Performance Indicators (KPIs)
  
• Setting Performance Standards
  
• Performance Appraisal
  
• Employee Development Plan

The feedback received from the participants showed that they have realized the importance of explaining the goals to their employees in a simple way—that the goals will help them to evaluate their performance, to motivate everyone, and to improve job performance.
You can put in 2 squares these two quotes:

“We are happy that we have started on the path of goal setting,” said Swati Rishi, Director, Vectra Group.

“I was particularly pleased to see that you have come up with a simple process and one sheet form to capture the goals and the performance of our people,” said Mike Mayer, COO of Indocopters.

Swati Rishi, Director of Vectra Group, added that since 2008, Vectra Group has a new partnership with Kamaz of Russia; Vectra Auto Components Private Limited and Fainsa have merged with Vectra Advanced Engineering; and Integrated Helicopter Services is now operating in Greater Noida, near Delhi, for the MRO. Ms Rishi announced that the new goal for the company members until the next KPC in 2012 will be to penetrate new markets, a task which shall be facilitated by Vectra Group offices around the world.

All the KPC participants interacted in a friendly atmosphere. They applauded the fact that Vectra Group is growing rapidly and are proud to belong to the Vectra Group family.