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Introduction An amalgamated system of associating business goals with Key Result Areas (KRAs) of Leaders. Converses business goals and strategies. Addresses total management within the organization. Encourages continuous learning and development. Involves critical thinking.
Goal Setting- A prominent activity for every business Maximum revenue generation with minimum costs. Promoting effective communications within the department as well as with other departments. Targeting on the potential customers and making attractive offers available. Build a culture of honesty and trust.
Monitoring and Evaluation Management tools used to enhance performance and achieve desired results. Aims at improving current and future performances. Used to evaluate performance of projects, organizations and employees. Establishes relations between the older, current and impending actions.
Monitoring Performance of the secondee employee monitored. Compliance with the KPIs as discussed with the secondee employee. Financial profitability during secondee employee’s tenure. Ability of the secondee employee in maintaining efficient Customer relationships. No training sessions took place.
Evaluation Revenue is lesser than expected. Disengaged employees. Low self-confidence and optimism amongst the employees. Inability to attract new and retain the existing talent. An environment of chaos and confusion. Irresponsibility on the part of the management.
Performance Feedback A process of exchange of information between employees and the managers. Negative environment in the organization. No Rewards and recognition resulted in disengagement. Inability of the employees to understand their roles and responsibilities.
Performance Feedback contd. Formal Feedback • Requires proper record and documentation. • Flow through defined channels. • Time consuming. • Secrecy of information is maintained. Informal Feedback • No documentation is done. • Faster way of communicating feedback. • Saves time. • Threatens secrecy of information.
Performance measurement processes Assessing continuous performance firmly. Translating strategy into clear and measurable results. Planning eloquent performance measures. Taking charge from the stakeholders. Implementing measures and keeping a record the data in detail. Maintaining useful performance reports. Assessing the gaps between the actual and desired performance. Improving business processes to meet performance targets.
Performance appraisals Appraisals improve performance. Helps in assessing the training and development need. Helps in career and succession planning. Formal and informal feedback sessions should be conducted. Performance interviews once in a quarter should be piloted. Ethical appraisal system should be formulated.
Records and Documentation Records- evidence of functioning and policies of an organization. Documents- structured or unstructured data accessed by people of an organization. Accumulate accurate, behavioral and consistent information. Only job related information to be record. Both positive and negative performance is to be documented.
Records and Documentation contd. Consistency in documentation, communication and actions. A standard format should be made and used for each employee. Recording of facts based on actual performance. No data should be stored on hunch. Record direct observation of an employee.
Performance Measurement System Individual information is collected and recorded. Quantity, quality and timeliness of the data is measured. KPIs of employees are stated clearly. Inter as well as intra organizational measures are accounted.
Key Results Areas Plan- Sustaining amiable inter and intra departmental relations. Regular training sessions. High employee engagement rate. Monitor- No training sessions conducted. Disengaged employees. No Reward & recognition program. Review and Evaluate- Non-compliance with the agreed rubrics. Succession planning is required. Ensuring regular training sessions.
