Corporate Business Performance Management Systems
What are the Benefits of Performance Management Systems?
The management of any organization or company are often faced with situations or questions like how to improve productivity, conducting appraisals improve communication across the organization including getting effective feedback, reduce conflicts, identify performers or non performers, hiring or firing employees, lowering attrition, retain performing employees, right compensation packages, incentive planning, designing training and development programs for employees or motivating employees etc.
This is where an effective performance management system plays an important role.
At the organization level - an effective performance management system helps in
1. Effective communication across the different organizational structures
2. Improving employee productivity
3. Increase and improve productivity and performance of the organization
4. Lower employee attrition and increases employee loyalty
5. Reducing overall costs, increases profit
At the Managers or Supervisors Level an effective performance management system helps in
1. Better performance and productivity
2. Designing training and development programs for employees
3. Improving Team Building and Team Work
The Employees - an effective performance management system helps in
1. Goal setting and Achievement
2. Improves motivation levels
3. Job satisfaction
4. Self assessment
5. Understand Career Paths
6. Understand job profile and expectations
How to Conduct Performance Appraisals, Reviews and Evaluations for Employees?
Performance Appraisal is also known as Performance Review or Performance Evaluation.
This is for documentation of the employee performance at the work place.
Design a legally valid performance review process
Consider the legal requirements of the performance review process
Design a standard form for performance appraisals
This should include the name of the employee
Date the performance form was completed
Schedule the first performance review for six months to twelve months after the employee starts working
Initiate the performance review
Record your input to the appraisal
Hold the performance appraisal meeting
Finalize and update the performance appraisal form
How to recruit the right candidate person for jobs?
Corporate Business Organizations have to employ the right kind of people.
An effective and good Corporate Business Recruitment Process can attract right kind of employees while reducing time and effort of recruiting such people.
Corporate Business â€“ Recruitment Steps
Inputs â€“ Planning and Strategy development
Action - Searching
Expectation â€“Role / Job profile
Measurement â€“ Evaluation
After short listing of probable candidates they are called for Interviews.
Types of Interviews
The Preliminary or Screening Interview
The Formal Interview
The Group Interview
The Panel Interview
The Stress Interview
Written Interviews, Group Discussion, Skill Tests or personal one to one Interview may be conducted as part of the Interview process to assess the suitability of the candidate.
What are the Important Interview Questions you can ask during an interview?
1. Tell me something about yourself.
2. Tell me about your family.
3. What do you know about us or this organization?
4. What are your educational qualifications?
5. What are your strengths and weaknesses?
6. What motivates you?
7. Are you a member of any social or professional institutions?
8. What are your life and career goals?
9. Are you willing to travel?
10. What are your hobbies?
11. Why should we hire you?
12. What is your greatest strength?
13. Would you be willing to relocate?