The following are the pain areas and challenges faced by Jainam Share Consultants as shared by Chiragbhai for comments, thoughts, suggestions and discussion between the group. This is an extremely good beginning and i request everyone to participate with their thoughts and also their own challenges.
1. Performance Management System: -
1. Performance Management System: -
As
per our current system-
- We are giving KRAs with KPI to all our managers in the beginning of the year. All KRAs has its weightage as per its importance.
- Every quarterly review is there between Top management & Managers in presence of HR.On review meeting, new KRAs are given for next quarter. Feedback related to performance is given at the time of review meeting.
- At the end of the year average % of achievement is given to manager by averaging all 4 quarter.
In
above system, we are facing following challenges: -
·
Many times Manager do work which is not in
his KRAs but which is important. How to give impact that type of work in his
performance.
·
Most of the time, different reviewer (we
have four reviewer) measure performance in different way ( for example: one
reviewer is strict and one is liberal in same performance)
·
Many times it is difficult to take judgment
as some part of the KRAs are not achieved due to outside
circumstances.
·
How much importance should we give to
routine work and new initiative in PMS. (If we give importance to new
initiative which is most of the time difficult to achieve and if the manager is
not able to achieve the same, system indicate that he had not performed where
someone is not given new task, complete his routine work then system indicate
he is performed, Which actually not reflecting the right picture.)
·
As PMS is not reflecting the right picture
of performer, so major challenge is how to give increment at the end of the
year? we always have too much stress at that time.
2. Not following company's policies and systems by performers. How
to deal with performer’s attitude issues.
3. How to change a system which is in place from last some years
and has undue advantage to some of the managers? The fear is to have resistance
from their side.