Presentation_on_PMS

PerformanceManagement : 

PerformanceManagement

What is PM? : 

What is PM? It is a systematic technique of monitoring, measuring & enhancing performance of individuals It is a proactive partnership between employees & managers that help employees perform at their best & align their contribution with goals, values, mission of organization It is a process in which average performers are advised to improve their performance level

PM - definition : 

PM - definition Performance management can be defined as a strategic and integrated approach to delivering sustained success to organization by improving the performance of the people who work in them and by developing the capabilities of teams and individual contributors. (Armstrong and Boron 1998 )

Objectives of PMS : 

Objectives of PMS Track & Raise the Performance bar every year Potential & competency based rewards Succession & Career path for high performers Individual Development plans Increase in overall organizational efficiency

Scope of PMS : 

Scope of PMS All employees other than workers Measurement of attributes and potential appraisals along with performance measurement

Benefits of PMS : 

Benefits of PMS Improved Performance Improved Communication Increased Organization Capability Increased Employee self management Increased Employee Satisfaction

Performance management - process : 

Performance management - process

Performance Management -sequence : 

Performance Management -sequence

PM - steps : 

PM - steps Performance objective /goal setting Performance standards Operational requirements Regular reviews Performance measurement/appraisal Competency mapping Personal developmental plan Linkage to reward

Standard charted Bank – PMS : 

Standard charted Bank – PMS

Standard charted Bank – PMS : 

Standard charted Bank – PMS

Standard charted Bank – PMS : 

Standard charted Bank – PMS

Standard charted Bank – PMS : 

Standard charted Bank – PMS

Potential Failures : 

Potential Failures Lack of clarity & understanding about the system at all levels Lack of clarity about the individual goals & objectives No timely completion of activities No adherence & review of performance Subjectivity in rating employees

Process Owners : 

Process Owners H R Dept Dept. Heads Individual Employees

Performance appraisal : 

Performance appraisal Performance appraisal can be defined as the formal assessment and rating of individuals by their managers at, usually, an annual review meeting. In contrast performance management is a continuous and much wider, more comprehensive and more natural process of management that clarifies mutual expectations, emphasizes the support role of managers who are expected to act as coaches rather than judges and focuses on the future.

Performance appraisal & Management : 

Performance appraisal & Management Performance appraisal Top down assessment Annual appraisal meeting Use of rating Monolithic systems Focus on quantifies objectives Complex paper works Owned by HR Dept Performance management Joint process through dialogue Continuous reviews Rating is less common Flexible process Focus on behavior /values Owned by line managers

Slide 18: 

Thank You