PMS (By- Rads & Vibs )
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Transcript of PMS (By- Rads & Vibs )
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By B.Radhika (6)Vibha.G (53 )
Performance Management System A Strategic Tool for Competitive Advantage
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PMS Need of the Hour
y The concept of managing resources in a professionally-
managed organization has changed over the last 2
decades.
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Earlier Now
Managers were suppose to
manage 5 Ms in their day-
to-day functioning.
Technological revolutions :
Emergence of WWW, LPG
Managers were not muchconcerned with any
particular M & used to
devote equal concentration
and effort towards all theMs.
Man has became Central toall other Ms .
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y Never in the history employees dreamt of becoming
partners in the organization, of getting a share of the
profit apart from the regular salaries.
y The perks include ESOP,36o degree feedback, appraisal,
hikes every quarter, bonus etc.
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y These developments in the HRM landscape are
indicative enough to understand the significance of
manpower in a modern-day professional outfit.
y The concept of treating employees as internal customers
& end-user as external customer has led to organizations
relying completely on their employees to create that
strategic difference in the competitive marketplace.
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y Employee poaching was not as prevalent as it today.
y Attraction and retention have become more challenging
for the HR managers.
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Role and Relevance of PMS
HR
Procurement
Marketing
Finance
Systems
R & D
erations
Administration
Su ort &Service
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y Performance of an employee in a modern-day
organization is not only dependent on his individual
brilliance but is also indirectly related to many of his
peers, subordinates & superiors across departments,
which makes a transparent & organized PMS even more
important.
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y A thorough job analysis is a pre-requisite so as to frame
KRA which require an active participation and co-
ordination amongst HR managers with other functional
departments.
y Thus, it makes the PMS even more important so as to
keep the employees motivated and consumer-oriented at
every point of time.
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Organizations consider PMS as a Hush-HushAffair
y Many SME are much concerned about the welfare of their
employees as they realize it is only through their employees
that they can create an edge over their much bigger rivals
and therefore pay extra attention in putting in place an
efficient and effective PMS.
y On the contrary, organizations lacking a proper PMS treat
PMS as a hush-hush affair , they are reluctant to share the
profits with the employees, divulge details.
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y Today, even the family-owned organizations prefer to
hire professional managers to change the overall culture
and revamp their strategic issues so as to attract and
retain talent.
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Building Performance Culture
y Modern-day organizations has inculcated the culture of
Healthy competition amongst the peer members to bring
the best out of any individual & to have a rubbing effect
on the others.
y Even monetary and non-monetary motivators are
finalized keeping in mind the need to build up a culture
of performance.
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y The approach of acknowledgement and appreciation
fosters a culture of performance.
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y Companies have also shifted their approaches from
individual incentives to that of group which is rewarded
for performances and not an individual.
y This further has a spill-over effect not only on the group
of subordinates but also drives the superiors, as their
perks, promotions are directly proportional to the
performance of their subordinates.
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y Personal interaction and feedback on the satisfaction
level of the employees, handling employee grievances
with an open mind, helps in cultivating an environment
of performance, commitment & devotion.
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Performance Management and its Role
in Reward System
y Performance management plays a very important role in
employee motivation, which has a direct bearing on
employee performance and employee retention.
y There are companies which encourage individual
employee to go for self-appraisal.
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y The objective is to make the employee understand
his/her own contribution in the organizational trajectory.
y It also enables an employee to speak out openly about
his/her personal weakness, need for training along with
the TNA which enables the HR manager to identify the
growth potential of each and every employee.
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y Companies like IT,ITes etc allocate points to each and
every task carried out by the employee in a quarter.
y At the end of the quarter, these points can be redeemed,
thereby making the process fair,and easy to elucidate.
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y Organizations have even gone to the extent where the
comments put forth by their superiors in their appraisal
form are being displayed to the individual employees to
reduce the doubt and increase the confidence in the
PMS.
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PMS- A Strategic Tool
y It is an accepted fact that PMS is a strategic tool for any
contemporary organization.
y Human being the core to an organization are considered
to be the key factors which provide an organization with
the much-needed strategic advantage in the
marketplace.
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y What differentiates an average employer from a better
one is mainly employee concern, which hinges on the
state of the PMS, which can provide the minutest of
details at any point in time.
y One size fits all approach is a strict no-no as far as
PMS is concerned.
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y Customization as per the corporate policy, employee
need and expectations is the key parameter to finalize a
PMS.
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Conclusion
y PMS is crucial to the functioning of any organization.
y PMS should be simple, transparent and periodically
done.
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