Performance evaluation at Opsonin Pharma Limited

Abstract

Opsonin Pharma Limited is a private limited company. Opsonin is committed to improve its position continuously as a Leading Pharmaceutical company in Bangladesh and strengthen its global presence. Opsonin creates value for its customers and other stakeholders by providing highest quality health care solutions through appropriate application and development of resources and processes. . Its main market is in Southeast Asia Africa Eastern Asia. It is involved with manufacturing, distributing and wholesaling. Main products of Opsonin Pharma includes Antihistamines, vitamins and minerals, NSAIDS, Antispasmodics, Corticosteroids, Laxatives, Expectorants, Analgesics, Antiprotozoals, and Anti-diarrhoeals. Opsonin Pharma Limited is renowned for its outstanding product quality, world class manufacturing facilities, product development capabilities and unparalleled services. Environment, health and safety are an integral part of Opsonin’s corporate responsibility. As a pharmaceutical company, they improve health not only through the production and distribution of medicine to our consumers, but also through our commitment to protect the environment, health and safety of our co workers and the communities where they operate. My internship report on Opsonin Pharma Limited is to study performance evaluation practice of the company finding lacking and corrective actions. In this consideration I have presented the existing practice. Base on Key result area performance of employees is evaluated by the departmental heads. Performance evaluation form is circulated at the end of the year. Form is filled up both the apprise and appraiser. There is a scoring where A (90 and above) stands for outstanding performance. All functional head forward performance appraisal form to HRD. Then HRD summaries the evaluation and make a promotion and upgradation committee. The committee decides the employees entitled for promotion and upgradation. In the performance evaluation of Opsonin Pharma Ltd. I have the following findings:  Though Opsonin Pharma Limited has well-structured policies and procedures for performance evaluation but there are some lacking in the area of setting KRA (Key result area) and properly evaluating employees by the departmental heads.  Though there is a provision for weightage in key performance areas but it is not being implemented due to lack of coordination. Say for example, commercial departments tasks is delayed by non-cooperation of other functional areas. As a result they are not interested to set fix any time frame base on which performance can be evaluated.  Within the fixed time frame performance evaluation is not done due to lack of coordination from other departments that should be improved.  Opsonin Pharma has no formal (written) vision, mission and goals and Organizational Objectives that is a serious issue to be defined. In this regard I have the following recommendation: For evaluating performance properly Opsonin Pharma Should take initiative to redesign job structure as well as Job description, Specification. Opsonin should introduce vision, mission, goals and organization objectives of the organization. After setting organizational objectives we should introduce departmental objectives which will help us to define Key result area. After setting KRA weight should be given and then proper monitoring of an incumbents responsibility should be done through the departmental Heads. Departmental Head should properly introduce with the performance evaluation, setting KPI aligned with the organizational objectives.