Based on our past experience, and to strengthen the responsibility of our people managers for having a positive impact on the business and the career of their employees, Voruan Education Pvt Ltd. redesigned the entire goal setting framework in which all employees establish their annual goals and have their performance assessed. The new goal setting programme is a key element in Voruan Education Pvt Ltd. management system for accountability on issues related to business performance, managerial excellence, training and development and corporate responsibility.
The changes in the goal setting programme now provide opportunities for expanded recognition of all above-average performers, clarify consequences for the lowest performers, and make managers and executives more accountable for their roles as managers of people and not just of business results. This is a significant change from the fixed payments tied to assessment ratings in the past. Today at Voruan Education Pvt Ltd., funding for the Performance Pay is based on targets and year-end scores. Central to the program's redesign is a commitment that no managers will be held to any prescribed outcomes for an individual's performance appraisal ratings on statistical distributions or budget factors.
