Performance Management: Generic Process
Performance Management ensures assessment of progress towards the predetermined goals, encompassing important facets such as performance parameters communication, agreement, and performance facilitation. The following generic steps would help most organizations to develop a strategic human resource management system.
- Performance Planning
- Development of 3 years rolling business plan
- Splitting the business plan into different business units
- Defining the key deliverables of the business plan
- Breaking the key deliverables of the business plan Quarterly pattern amongst Divisions/Depts.
- Deciding upon criteria or basis for performance monitoring and measurement.
- Deciding upon the review mechanism and review schedule to review performance periodically
- Performance Agreement
- Discussing openly, answering queries and creating buy-in for performance commitment
- Reaching an agreement upon the performance criteria parameters linked to performance
- Finalizing Schedule and obtaining a commitment from the team to for review mechanism.
Completing the process with formal sign off on all the above 3 aspects (a,b,c)
3. Performance Coaching and review on a periodic basis
A) Conducting the performance reviews on deliverables as per the decided review mechanism highlighting –
- Weekly key indicators
- Monthly performance review with key heads
- Quarterly review with the entire leadership team of a given unit or division
B) Performance counseling for the relevant cases in collaboration with business unit HR and/or corporate HR and respective HODs/Business heads
Taking mid-course corrective actions such as performance support by providing additional resources such as policy approvals, manpower, training, funding, etc.
Performance Review Process can also be used as an effective tool to shape the culture of result orientation and professional development. It is highly recommended, especially according to Cerveausys, the leading IT consultancy in Pune, to observe and encourage performance oriented behaviors during review meetings and link those to performance ratings of each division.
- Vague Data vs. Standardized Information (10%)
- Information vs. Knowledge well presented (20%)
- Knowledge vs. Effective Solutions (30%)
- Solutions vs. Ownership Accountability of making the Decision (40%)
- Decision vs. Decisive & Prompt Actions (50%)
- Actions vs. Actions Aligned to Strategy (60%)
- Strategy vs. Success culture (100%)
4. Performance appraisal and feedback
Appraise performance against set goals for the period to identify instances of –
- Performance Problem (Actual performance < Agreed performance)
- Performance Improvement (Actual performance close to agreed performance or on point)
- Performance Appreciation (Actual performance > agreed on performance)
5. Performance Appreciation, Realignment and Career Decisions management
- Designing /Implementing the high potential reward, retention and development plan.
- Deciding on the cases for attractive increments, lateral, vertical moves, key assignments based on high potentials identified through the appraisal process.
- Closely guide performance improvement category and decisively act on non-performers
We are CerveauSys Strategic! One of the best consultancy in Pune and Mumbai. We have helped various organizations from diverse industry segments in defining result oriented, fair and growth-centric Performance Management Systems. Do call us! We would love to be your trusted partner in your journey towards your vision.