Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Performance Management Process A 5-step approach to building clarity of our Purpose, Strategies, Objectives and supporting Employee Empowerment
Performance Management Process Step 5: Compensation Rewards linked to measurable performance against mutual objectives Step 1: Define Purpose, Structure, Roles & Responsibilities Ongoing Coaching Step 4: Written Performance Reviews and Development Planning Step 2: Individual Job Descriptions and Objective Setting Step 3: Introduce Concept of Job Bands, Salary Ranges, Bonus Targets …The same process that your children participate in at school
Performance Management Concept • Share responsibilities for business results • Focus on behaviours as well as results • Promote an environment where feedback and coaching occur regularly • Empower colleagues to take ownership of their job • Promote growth and job satisfaction by emphasizing individual development
Step 1 Our Purpose Our Purpose To build a portfolio of recognizable consumer food novelty brands which provide sustainable value to our business partners. These include consumers, customers, employees, the community and business investors including suppliers
Step 1 Five Spokes of Business Foundation Communicate a clear vision and strategy to drive profitable volume growth in branded freezable novelty products throughout North America Challenge, develop and reward out people against mutual/ measurable goals (Performance Management Process Align our products & services with our customer and consumer needs Business Foundation Create resources to win financially Drive process improvements and execution to deliver customer excellence
Step 2 Setting Objectives • An agreed job description is the foundation of this process • You can’t set objectives if you are not crystal clear on your job responsibilities • Objectives must be quantifiable and measurable • Some examples of key performance objectives or results or what measures may include
Step 2 Objective Setting • Verbs for writing statements of performance objectives
Step 2 Setting Objectives: Summary A three (3) phase activity • Define the objectives Form Obj. #1 • Quantify impact of achieving each objective Form Obj. #2 • Action to take to achieve each objective Form Obj. #3 … Three one-page, word forms to complete – maximum time 1 ½ hours
Step 3 Job Bands, Salary Ranges, Bonus Targets
Step 4 Reasons for Conducting a Review • To recognize positive performance • To improve future performance • To provide frank and constructive feedback to the employee • To support a fair and equitable compensation system
Step 4 Performance Review • The employee will prepare his performance review for discussion with his supervisor • The following ratings outline would be provided to the employee to help his/her completion of the Performance Review
Step 4 Performance Review • It will be a simple 1 page form: makes your life easy List Objectives List Quantifiable Performance 1 - ? Performance vs Rating vs Each Objective Each Objective • The supervisor and employee discuss the performance review • Potential development training is identified : Examples Technological knowledge, Computer skills, Leadership training, etc. … an overall performance rating would be concluded
Step 5 Rewards • The Performance Management process is directly linked to reward • Annual Merit (not inflation) increases should reflect the individual’s overall Performance Rating • The individual component of the Bonus Payout is tied to meeting or exceeding mutual objectives …Target one annual reward payout, Merit and Bonus, at one time for all Band B and up employees.