Performance Management System
It is said that, what is the use of measuring speed if your direction is not right? – Michael Porter. The proverb written hundreds of years ago is still significant and relevant when it comes to measuring performance of people. Only hiring good people is not substantial but engaging them, assessing them and measuring performance has equal importance.
There are many disadvantages also for not setting up proper Performer Management System – PMS –
- You will never to come know about true potential of a person
- You will be always in dilemma in promoting or giving increment to people
- You cannot differentiate between poor performer, average performer and star performer
- There will be no succession planning and career growth plan
- There will be no motivation in performers
- There will be chaos in the management side
Therefore, one has to set the proper performance management system, and one can follow the below mentioned points:
- List out the KRA & KPI for all candidates
- Set the parameters for the evaluation of KRA & KPI
- Set the marking method and set the guidelines for evaluation of KRAs
- Convert the evaluation result into grades and then form the policy to act as per the grades acquired.
The benefits of the performance management systems:
- We can measure the performance of each candidate and it can be manipulated for taking important decisions like promoting employees, revising salaries, giving promotions, revising job profiles, etc
- PMS can also useful to differentiate between performers and non-performers and therefore decide manpower planning
- Proper understanding and clarity of PMS can lead to effective recruitment.
- PMS can be a reference point for forming more strategies and systems
For more details or setting your PMS you can contact irojgar team on 7600004099