Performance appraisal system of Concord Group of Companies

Abstract

Bangladesh's real estate industry is flourishing and has a significant impact on the country's economy. Concord is one of the biggest and most successful conglomerates in Bangladesh. Over the past 50 years, its business outside of real estate has expanded. Some of the most famous and difficult events in the world have been presented in appreciation of their talent and dedication. Employee performance and job satisfaction are closely correlated. According to research, employees who are happy in their professions are more likely to perform well, be loyal to their employers, and experience reduced turnover rates. On the other hand, unsatisfied workers are more likely to underperform, miss work, and leave the organization. In a highly competitive industry like real estate where employees are regularly under pressure to meet sales targets and please clients, employers must place a significant emphasis on employee engagement and satisfaction. This can be accomplished through creating a pleasant work atmosphere, providing competitive pay and benefit plans, and making investments in the training and development of employees. Furthermore, it's critical to understand that employee satisfaction involves more than just financial incentives; it also involves making employees feel appreciated, respected, and heard. Employers can increase employee job satisfaction by fostering open communication, offering venues for suggestions and teamwork, and praising and rewarding staff for their accomplishments and efforts. Real estate organizations may increase employee retention and overall performance and productivity, which will increase success and profitability, by putting employee pleasure and engagement first and ultimately it will improve the employee performance. Aspects of human resources that are both strong and poor have been observed by me during my internship and overall studies. For instance, the effectiveness of employees is impacted by a number of issues, including a lack of personnel in the HR department, time consumption, and excess workload. There are also a few positive findings. In this case, HRD is extremely vigilant and observant while selecting candidates, and the selection procedure is quite transparent to allow them to choose the best individuals from the applications. Since I had worked in the HR department, it will be simple for me to discuss the performance evaluation system, which is the same as that of all other departments and will demonstrate Concord's HR practices.