DECLARATION

I, Sujata Bharti, student of International Institute for Special Education, hereby declare that this

project report entitled “A Study of Performance Appraisal at, Western Union Pvt Ltd, a unit of

Paul Merchants Ltd.” is my original work.

The findings in this report are based on the data collected by me during the course of the project.

While preparing this project, I have not copied from any other report.

Finally, I am very thankful to Ms. Priyanka Kalra for her valuable academic guidance in my

project work.

I understand that any coping is liable to be punished in a way that the authorities deem fit.

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 Preface

The objective of this research project is to analyze the performance appraisal system in the

Western Union. This report is divided into five chapters.

The first chapter deals with industry background, competitive situation, company history,

organizational chart and current financial position.

The second chapter deals with the theoretical background of performance appraisal and review

of various earlier studies which were carried out on the similar manner.

The third chapter deals with research methodology of the summer training project.

The fourth chapter deals with the data analysis of the primary data which was collected through

respondents who were employees of the organization.

The fifth chapter deals with the major findings and some recommendations to improve the

current performance appraisal system.

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 ACKNOWLEDGEMENT

First of all I am thankful to Ms. Priyanka Kalra under whose guideline I am able to complete

through instruction regarding the project.

I am wholeheartedly thankful to them for giving me their valuable time & attention and for

providing me a systematic way for completing my project in time.

(SUJATA BHARTI)

Enrollment No. - 1543

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EXECUTIVE SUMMARY

A. Company Profile

The illustrious Journey of Paul Merchants Limited started in the year 1991 with its founder Mr.

Sat Paul Bansal acquiring an existing Company known as Brite Agro Mills Ltd from its then

promoters, which was originally incorporated in the year 1984. Before putting it on the path of

growth, the name of the Company was changed to Paul Merchants Limited, a name which

became synonymous with Trust, Quality, Assurance and Integrity in the following years.

The saga which started with few people getting together to offer services with a difference,

ultimately unfolded into a large conglomerate having diversified interests in Forex, International

Money Transfer, Tours, Travels, Holidays Packages and Air Ticketing over a period of time.

In 1978, Mr. Paul shifted base to Chandigarh as Principal Distributor. In the year 1990, Mr. Paul

acquired a Delhi based Public Listed Company. The name of the Company was changed to Paul

Merchants Limited, a name which became synonymous with Trust, Quality, Assurance and

Integrity in the following years. USA as a principal agent. The sub agents of PML include

Banks, big Corporate, PSUs, FFMCs & big Retail chains.

Western Union is a service of Paul Merchants Limited. Western Union, USA based company and

we are (PML) is a principal agent of them.

Services provided by Paul Merchants Limited:

1. Western Union Business Solution(WUBS)

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 2. Domestic Money Transfer

3. Travel

4. International SIM Card-Talk More

5. International Inward Money Transfer

6. Traveller Cheque

The Western Union Company is an American financial service and communications company.

Its North American headquarters is in Meridian, Colorado, although the postal designation of

nearby Englewood is used in its mailing address. Up until, it discontinued the service in 2006,

Western Union was the best-known US company that was in the business of exchanging

telegrams.

Western Union has several divisions, with products such as person-to-person money

transfer, money orders, business payments and commercial services. They offered standard

"Cablegrams", as well as more cheerful products such as Candy grams, Dolly grams, and

Melody grams.

Western Union, as an industrialized monopoly, dominated the telegraph industry in the late 19th

century. It was the first communications empire and set a pattern for American-style

communications businesses as they are known today.

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B. Performance Appraisal

Performance appraisal has been used for decades in organisations to serve employees' and

organisation’s needs. It is defined by Snap et al. as "a formal assessment of how well an

employee performs his or her job, usually carried out on a regular basis (e.g. annually). It usually

takes a systematic approach, involving documentation and possibly a meeting between appraisers

and appraise."

Performance appraisal is complexes of issues that need to be considered e.g. content of appraisal,

how to appraise, who conducts appraisal and who is appraised, when and how often, how to tell

and use results, etc. It is not easy to set up suitable and efficient appraisal that would suit to

organisations' and employees' expectations as well. Inadequate performance appraisal system is

very costly and does not produce any benefits for organisation and its employees.

In this research, researcher wants to analyze the performance appraisal system in the

organization.

Research Objectives:

 To analyze the current performance appraisal system in the Western Union.

 To identify the problems in the current performance appraisal system.

 To find the satisfaction level of employees towards current performance appraisal system.

 To find the areas of improvement in the current performance system for the betterment of

organization.

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Research Methodology

The process used to collect information and data for the purpose of making business decisions.

The methodology may include publication research, interviews, surveys and other research

techniques, and could include both present and historical information.

The process used to collect information and data for the purpose of making business decisions.

The methodology may include publication research, interviews, surveys and other research

techniques, and could include both present and historical information.

Research Design

A research design is the set of methods and procedures used in collecting and analyzing

measures of the variables specified in the research problem.

In this research, I have used descriptive research design.

In this research, I had collected the data from the census survey. The method of collecting the

primary data is personal interview through structured questionnaire and the secondary data

through different websites and magazines. The data obtained from the questionnaires are

tabulated. For analyzing the data percentage analyses is done. Pie charts are used.

Findings

 37% of employees have tenure of 1 to 3 years. 37% have less than 1 year tenure and rest

26% have the tenure of 5 years and more.

 80% people are satisfied with performance appraisal system.

 20% people are dissatisfied with performance appraisal system.

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  Employees are happy as they get monetary and non monetary benefits as the result of

performance appraisal.

Recommendations

According to the analysis done Western Union, it needs some minor changes in their

performance appraisal policy like-

 Changes in Old salary structure model.

 Changes in Promotion policies due to late promotion.

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