Performance Management Systems- MakeMyAssignments.com

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Performance Management Systems
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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.

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Performance Management System Process
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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.

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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.

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Monitoring

• Performance of the secondee employee monitored.
• Compliance with the KPIs as discussed with the
  secondee employee.
• Financial profitability during secondee
  employees tenure.
• Ability of the secondee employee in maintaining
  efficient Customer relationships.
• No training sessions took place.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.