Performance Management means systematically managing all the people in an organization, for innovation, goal focus, productivity and satisfaction. Hence, Performance Management is the approach to the management of people using performance, planned goals and objectives, measurement, feedback and recognition to motivate people to realize their maximum potential.

Performance Management has been defined as:

“A strategic and integrated approach to delivering sustained success to organizations by improving performance of people who work in them and by developing the capabilities of teams and individual contributors”. An important aspect of performance management is performance appraisals where a clear set of quantifiable goals and objectives are used to measure an individual performance against these goals.

The Company policy should be such as to implement a fair, consistent and industry competitive Compensation Program so as to attract, motivate and retain qualified employees. This policy is specifically designed to compensate employees on the basis of their performance, consistent with the Company's business needs and financial capabilities.

The Company will administer its compensation programs without regard to race, religion, national origin, color, sex, age or disability. The Company will adhere to all laws and regulations regarding job classification, amount of pay, and equitable compensatory treatment of employees.

The Balanced Scorecard is a management tool that provides stakeholders with a comprehensive measure of how the organization is progressing towards the achievement of its strategic goals