Performance Management System

Keeping Employees Continually Evolving

As we are heading to highly unstable, more fragile economy, the organizations are shifting their outlook from more stable to dynamic approaches that no more include scientifically proven methods, time-tested mechanism, and technology driven solutions but should manage to navigate through incredible number of pressures that organizations face today such as globalization, digitization, demographic shifts, economic uncertainty, changing lifestyle, erosion of brands, dynamic workforce etc.to sustain in this VUCA economy.

Needless to mention, in this unpredictable environment organizational success is only dependent on the quantity, quality & management of people they have. A highly productive employee is more like a sound investment for a company that is only going to give better returns in the future.

However, Performance Management remains a challenge for many organizations. With difficult days ahead, performance management gets more and more complex. And hence, there is a need to have a robust, agile and holistic System with new rules to monitor & manage performance across the levels within the organization.

What is Performance Management System?

Performance Management System for VUCA Environment is not, as is commonly envisaged, an activity that is the sole responsibility of the HR Dept. It is the Top Management of the organization which is responsible for performance management in all its entirety and complexity.

“Mondy & Noe (2007) – all organizational processes that determine how well employees, teams, and ultimately the organization perform are included in performance Management.”

Constituents of Performance Management

Performance Management to consist two important elements:

Performance Management Process – It articulates the Organization’s strategy and how it is linked to the organization Structure, performance measures, review system, etc. It includes strategy formulation & implementation through the process of Strategy planning and evolving Thrust Areas at higher level for the organization to head.
Performance Information System – It encompasses and incorporates information about external environment and information relating to internal operations of the organization.

That is how, we ensure, organizations are able to succeed as an organization of tomorrow.

Benefits of an Effective PMS

Performance Management facilitates the effective delivery of strategic and operational goals. Some of the tangible benefits that may accrue to any organization having the PMS are:

Improved employee engagement as they understand how they are directly contributing to the organization’s growth
Professional development programs better aligned towards achieving business goals
Growth in Sales
Optimized cost
Improved Ontime deliveries
Improved Management control
Improved processes
Transparency in the system
Improved decision making & implementation

Highlights

Deployment of proven tools for ensuring cascading & alignment of goals across the levels

Assured outcomes of successful implementation of PMS

PMS Specialists onboard to provide expertise on the subject

Our Approach

Our approach towards Performance Management System is a well-articulated process that goes through various stages

Stage 1: Prepare
Our team of PMS experts understand your purpose, goals and the objectives to set the stage for Performance Management System.
Stage 2: Develop
We develop a system with a clear focus on Business requirements.
Stage 3: Orient
This stage involves orienting and training key stakeholders / PMS Champions across the Functions on the System.
Stage 4: Handhold
Our team provides support and guidance for implementation of the System.

Engage and inspire performance excellence in your people to achieve the results that matter to your business. Naman can show you the way.

Let’s Talk

Client Success Stories

FAQs

What are the components of a performance management system?

Most people make the mistake of addressing performance management as performance appraisal. In reality, the performance management system is much bigger and of more value than a performance appraisal. The components of an effective performance management system include:

Performance Planning (may include employee objective or goal setting)
Performance Diagnosis and Coaching
Data Gathering, Observation and Documentation
Performance Appraisal Meetings
Ongoing Performance Communication

What is Performance Appraisal?

A performance appraisal is usually conducted annually, semi-annually or quarterly. It reviews an employee’s job performance and contribution to a company. Also, a performance appraisal evaluates an employee’s achievements, skills and growth, or lack thereof. Most companies use performance appraisals to give employees feedback and also to make increment, bonuses and termination decisions.