Performance Management System Ppt @ Bec Doms Bagalkot Mba

8/2/2019 Performance Management System Ppt @ Bec Doms Bagalkot Mba

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PERFORMANCE

MANAGEMENT SYSTEM


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Types of PBP

Individual based schemes, based on individualperformance such as incentive schemes andsales commissions

Profit sharing schemes which applies to all ormost of the employees

Gain sharing schemes ,measured on

predetermined performance formula .(profit orproductivity based)

Employee share ownership schemes


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Performance Based Pay(PBP)

Agreedoutcome

s

Performance

measures

perfor

mance rating formula

Agreedoutcomes(targets)


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360 degree feedback

The 360 degree feedback appraisalprocess is the systematic collection ofperformance data on the individual or

group ,derived from a number ofstakeholdersthe stakeholder being theimmediate supervisors ,team members

customers, peers and the self


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360 degree Performance Appraisal

SUPERIOR

CUSTOMERS

CONSULTANT

SUBORDINATES

PEERS SELF


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360 degree Performance Appraisal:

Appraiser may be any person who has thorough knowledge

about

Job content

Contents to be appraised

Standards of contents &

Who observes the employee while performing

Components of 360 degree appraisal

360degree

Supervisors Peers

Subordinates

Self Service

customers

Consultants


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Steps in 360 degree appraisal

Identify and define the key competencies fororganizational success based on organizationsvision, values and goals

Express the key competencies as attitudes

against which participants can be assessed Select the persons to be evaluated-

peers,customers,subordinates and managers

Compile the results feedback is to be kept

confidential Provide feedback to the individual

Create an action plan to improve the individualsperformance


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Benefits of 360 degree

appraisal Broader perspective Increased awareness

Increased awareness to senior management

More reliable feedback to senior management

Gaining acceptance by multiple stakeholders

Reinforcing the desired competencies

Supporting a climate of continuousimprovement

Focused agenda for development


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360 degree feedback as a

developmental tool

fobbbbabs

Focus on market Finds better ways

Shows determination toAchieve results

Demands topperformance

Develops self andothers

Inspires commitment


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Performance Management is the integratedprocess by which an agency involves itsemployees in improving organizational

effectiveness in the accomplishment of agencymission and strategic goals. PerformanceManagement consists of: performanceplanning, monitoring employee performance,

employee development, evaluating employeeperformance, and recognition.


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Components of performancemanagement map

Key responsibilities

Managerial attitudes: generic and critical

Training and development action plan

Quarterly reviews

Annual review and discussions


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Implementation of PMS

Top- down strategy for implementation

Visible commitment and support by topmanagement

HR dept follow up

A change in the mindset of the personnelinvolved

Setting of clear business goals Role analysis of each of the critical roles

Continuous dialogue and information sharing

to reinforce the system and also monitor its


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The PMS process

bnnognition

Theprocess

Performance planning

Rewards and recognition

coaching

The performanceReview meeting


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REWARD MANAGEMENT

Employee reward is about how people are rewarded inaccordance with their value to an organisation. Itinvolves both financial and non-financial reward whichconsists of an organisations integrated policies,

processes, and practices for rewarding its employees inaccordance with their contribution, skill and competencesand their market worth. It is developed within theframework of an organisation strategies.

Reward system

Performance based rewardsystem

Compensation practicetraditional fixed pay plans)


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THE USE OF INFORMAL REWARDS IN RECOGNISINGPERFORMANCE

The value of informal rewards, that is, spontaneous non-monetary forms of recognition, as employeemotivators is increasingly today for two reasons:

1. Traditional rewards such as compensation and

promotion-although still important- as becoming lessand less effective in motivating today's employees toachieve high performance.

2. Informal rewards are effective and highly desired bytoday's employees.

Drucker points out:Economic incentives are becoming rights rather than

rewards. Merits raises are always introduced asrewards for exceptional performance


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Performance related rewards

PMS is a process which is designed toimprove organization team and individualperformance.

If organizations want to attract high performersand motivate and to retain them,system ofPerformance related rewards should bedesigned


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The stages of Performancerelated rewards

Criteria for measuring performance should bedeveloped,communicated

Clarity in setting target/results

Regular feedback on performance

Reward system/performance pay to be achieved

Appropriate ratio in pay to be designed

Periodic evaluation of the scheme


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Performance measures

Performance is essentially what an employeedoes or does not

1. Quantity of output

2. Quality of output

3. Timeliness of output

4. Presence at work

5. cooperativeness


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How to reward?

Empowerment

Recognition

Career growth

Development

This may take the form of different mechanisms


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Performance Rewardsmechanisms

1. Salary increase

2. Annual performance awards

3. Outstanding performance awards

4. Promotions to higher positions

5. Change of jobs involving higherresponsibilities and status

6. Sponsorship to conferences and tours toother countries

7. Appreciation letters and certificates


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8 .Transfers

9. Advanced training and developmentopportunities

10.Announcements in newsletters, journals


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Benefits

Enhances productivity

Ties earnings to performance

Individual and organizational benefit

Improves quality

Helps recruiting and retention of employees

Improves employees morale


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PERFORMANCECONSULTING

Performance consulting or counseling isnormally done at regular intervals during aperformance year. When there is a specificproblem, an employee should resort toappropriate methods of solving it rather than tocounseling because exclusive focus on aparticular problem or issue may prevent

performance counseling. It focuses on theentire performance (tasks and behaviours),during a particular period rather than on aspecific problem. However, specific problems

may be discussed during counseling as a part


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CONSULTING

COMPETENCIES1BUSINESS KNOWLEDGE Industry/Corporate Awareness

Business Understanding

Organization Understanding


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2 KNOWLEDGE OF HUMAN PERFORMANCETECHNOLOGY

Ability to See the Big Picture

Performance Understanding

Problem Definition Skills

Problem Solving Skills

Technological Skills

Knowledge of Interventions


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3. PARTNERING

Leadership Skills

Interpersonal and Relationship Skills

Advocacy and Buy-In Skills

Contracting Skills

Coping Skills


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4.CONSULTING SKILLS

Pair of Hands Style Client definesproblem and solution and the PC

implements it ExpertClient defers to the PC for

decisions (freedom/no ownership)

Collaborative Style

both invest in it


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Areas of Strength

1.____________________________________________________________________

2.____________________________________________________________________

3.___________________________________

_________________________________


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Areas Requiring Development

1._____________________________________________________________________

2._____________________________________________________________________

3.___________________________________

__________________________________

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Performance Management System Ppt @ Bec Doms Bagalkot Mba