Performance Management System

Keeping Employees Continually Evolving

As we are heading to a highly unstable, more fragile economy, the organizations are shifting their outlook to dynamic approaches to sustain in this VUCA economy. A prime example of such a function has been the performance management systems. The circumstantial spontaneity, uncertainty, adoption of new virtual/hybrid methods of working and the blurring of the walls between home and work demands a complete overhaul of existing performance review methods and processes. More than ever, now is the time to ring in the changes concerning the performance management system across the levels within the organization.

What is Performance Management System?

In this ever-changing world, it has now become imperative for top management of the organization to understand the significance of Performance Management System. This is now not the sole responsibility of the HR Dept. anymore but should be considered as a key component in building a strong workforce essential for achieving business outcomes

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 with continuous and timely feedback to help them grow professionally
Helps in achieving desired business goals
Higher sales growth and lowers cost
Improved Ontime deliveries and Management control
Improved processes resulting in transparency within the system
Improved decision making & implementation

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.

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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.