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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