Team’s performance linking with yearly increments is another challenge faced by Entrepreneurs and companies. We understand each role in detail. Prepare Job description & Key Result area accordingly to each Role.
Majorly we have seen that in companies staff are not informed in a structured way , what is expected out of them. This is always assumed. As a Business Owner or as a system oriented organisation it is utmost needed to explain every one about their roles & responsibilities. One should be asked if they have any challenges in terms of infrastructure, skill lacunas or mismatch job profile. We see that one staff may have more than one boss to report which at times puts a priority on work confusion. This needs to be avoided.
Once expectations are noted down , informed to staff and given all other support – what is required is transparent Review Mechanism . The same should be very simple yet effective. Each person can be reviewed by respective HOD every quarterly. Once you have four such ratings in a year this will give you a final rating for the performance of the entire year.
This can be considered as an innovative way of rewarding staff with many options with fixed rise, variable, incentive, one time , in Kind etc as innovative Retention strategy whereby both have win win situations for Staff and company. Team shows consistency in Performance and company will not have baggage of any weak performer is what we aim for.
This Performance Management System module if implemented correctly in every organisation , Top Management’s physical presence will not make any difference for performance of Team. The routine show will go on.
