Vol. 3, Issue 12, Part G (2017)

Abstract
India, the world’s largest democracy and home to nearly one billion people, is quietly but quickly emerging as a leader in the field of software engineering and development. The Indian software industry is having a phenomenal compounded growth of about 60 percent per annum. Government of India has directed that 1-3 percent of the budget of every government department would be towards IT hardware and software. A good performance management system works towards the improvement of the overall organizational performance by managing the performances of teams and individuals for ensuring the achievement of the overall organizational ambitions and goals. It is absolutely applicable for software employees; an effective performance management system can play a very crucial role in managing the performance in an organization by ensuring that the employees understand the importance of their contributions to the organizational goals and objectives. Ensuring each employee understands what is expected from them and equally ascertaining whether the employees possess the required skills and support for fulfilling such expectations. Hence, these study socio-economic factors that are level of perception about the performance management practice which has been analyzed with the help of the simple percentage and descriptive statistics.