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Transcript of Performance Management
Identification of KPI
Performance Management v. Appraisal
Creating "Right" environment
Ongoing Performance oriented discussions
Developing, mentoring, goal setting
Review rating criteria & perils
Key Performance Indicators
KPI help an organization define and measure progress toward organizational goals
KPI serve to reduce the complex nature of organizational performance to a small number of key indicators to make performance more understandable
Setting Departmental Objectives
Performance Management & Appraisal
Number of KPI
Keep the number SMALL - if everything is important, nothing is important
Easier to keep everyone's attention focused on achieving the same KPI
KPI must be key to organizational success
Just because its measurable, does not make it "key"
in selecting KPI, it is critical to limit to factors essential to the organization meeting its goals
Choosing the right KPIs relies upon a good understanding of what is important to the organization. 'What is important' often depends on the department measuring the performance - e.g. the KPIs useful to finance will be quite different from the KPIs assigned to sales.
KPI give everyone in the organization and in a particular role a clear picture of what is important and what they need to make happen
"We aim to attract, retain, empower, and motivate our employees and collectively create an environment where our core values — Teamwork, Excellence, Accountability, and Fun — come to life."
KPI are performance management tools
A KPI can have a target, which is an exact value that the KPI should achieve. It can also have ranges against which to track the KPI. Ranges can be either a percentage of the target value or an actual value. For each range, you specify the start value and the end value.
If your KPI is "Number of potenial deals in the pipeline" and your target is "30," you might decide not to set an exact target. Instead, you might set several ranges as follows:
Sales: 30 Opportunities in pipeline
>30 - Exceeds Expectations
25-30 - Meets Expectations
20-25 - Needs Improvement
<20 - Unacceptable
So...what is Performance Management
Evaluating employee development needs that will strengthen job-related skills
Prioritizing and developing a plan of action to achieve the KPI targets
Develop tools to faciliate the employees plan to achieve their personal development goals
Means a gap analysis
ongoing reviews where employees performance is quantitatively measured against set standards
Performance rating is done through the quantitative data before the time of the actual appraisal
For low performance, an immediate plan of action is taken (PIP)
Measuring performance against the standards in the employee's performance plan
Assigning a rating to the employee based on work performed during the entire appraisal period.
Don't exhibit defensiveness - if criticism is justified, accept it.
Dissent is a matter of record - be professional!
Consistently exceeds performance standards
Continuously contributes to organizational success by adding value
Demonstrates comprehensive understanding of work; takes action to identify needs and solve problems
Meets performance standards
Competently performs all aspects of job functions and meets goals
Capable of adjusting to changing workplace needs and work requirements
Generally meets expectations
Competently performs aspects of job function or goal
May require performance improvement to concentrate on weakness
may require additional resources or training to move rating
Unsatisfactory or Unacceptable
Fails to perform most aspects of position
Performance levels are below expectation
Requires close guidance in performing routine duties