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Kra presentation
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- 2. Flow of thepresentation • Overview-Performance Appraisal System • Basics - KRA - Key result areas & KPI - Key performance indicator • KRA derivation process • Tamarind Individual KRA System • KRA based Performance Appraisal Cycle • Appraisal Feedback and it’s utilization • Recap
- 3. Performance Appraisal • AnnualActivity with mid-year reviews • Two way evaluation process of employee performance. • Measures performance during the year, setting up future goals. • Basis for decision –growth in terms of Remuneration, Promotion, training. • Identify potential for additional and higher roles and responsibilities
- 4. Why KRA basedPerformance Appraisal? Don't measure yourself by what you have accomplished, but by what you could have accomplished with your ability. • • • • Focused growth path Better monitoring with growing times Bench mark against global standards Scientific methodology of evaluation towards standardization and fairness of the Appraisal Instrument
- 5. Meaning: KRA • KeyResult Area • Identified out of the day to day routine activities • Primary Job objectives or Major Goals • Outcomes or Expectations of a Job Position • Groups relevant activities under one cluster forming a KRA
- 6. Meaning: KPI • Activity/Assignment/Process to accomplish the main Goal/KRA. • Process and procedure done on daily basis i.e. routine nature • Sub Activity/s under each KRA – Eg;- KRA- Increase profit per file » KPI 1- Get competitive rates » KPI 2- Effective Negotiation with the parties • There can be more than one KPI under a KRA
- 7. How KRA arederived ???? Mission and Vision derived Organization Objective Management Goals Dept Goal / Manager KRA Individual KRA Individual KRA Individual KRA
- 8. I What do “” do ?????? Support Function Hotel Booking Fulfill Customer requirements Leisure Transfers
- 9. Tamarind Individual KRA(TIK) Score break- up 20% 80% A. Target i.e. Achievement of goals B. Critical Behavioral Attributes i.e. on the job behavior Contd…
- 10. TIK Score 100% 80% 20% Target Score KRA1 Achieve and Surpass the GOP KPI 1 Costing KPI 2 Follow Up CBA Score KRA 2 Error Free Operations KPI 3 Negotiation KRA 3 Compliance
- 11. Significance of behavioral Attributes •Serviceoriented Industry •One organization- One Set of values •Differentiation factors - Personal Touch •Higher the responsibility, more emphasis on behavioral skills •Better the interpersonal skills, better the growth prospects •Long Term success Mantra
- 12. Why Measure Behaviour •Communication on phone, email, chat is the mainstay of our business • Say the right thing the right way – negotiate, convince and convert. • Relationships determine your business • We cannot work in isolation - team work is important • Display of responsibility and leadership determines the leaders for the future • Keeping abreast of the market environment is essential to distinguish leaders from followers All the above results in growth of business for the company and an edge over the rest, for the individual.
- 13. Communication Relationship Building and managing BusinessAcumen Leadership B. Critical Behavioral Attributes = 20% of TIK Time Management Client Orientation Team Management Result Orientation
- 14. KRA should be…….. SPECIFIC– KRA’s should be specific and logical. MEASURABLE – KRA’s should be quantifiable and measurable. ACHIEVABLE – KRA’s framed should be achievable. RELEVANT– KRA’s should be associated to job. TIME BOUND – KRA’s framed should be defined for a specific period
- 15. Process Mid-year Review & advise KRA isset Performance Appraisal Cycle Rewards, Corrective steps, New Targets Final Performance Appraisal
- 16. KRA based Appraisalform- Page 1 (Sample)
- 17. KRA based Appraisalform- Page 2 (Sample) Section 1: Target Score (80% of the TIK Score) Sr 1 KRA Increase sales and market share Performance Indicators Measure (Targets/ Deadlines) Achieved (To be filled by self) Achieve and Surpass the GOP targets Recognize and grow new business segments and clients. Effective sales plan and implementation, to increase the existing and new client business Timely and result-oriented reporting, and follow-up internally and externally Develop strong relationships within the team, and with clients and vendors 2 Compliance of Laid down Policies and Procedures of the company Constant upgradation of product knowledge and effective use in sales calls Adherence to all the organization's policies, rules and procedures. Compliance of credit policy with regards to non- credit clients / agents Aggregate Total ( sum of WA)/ No. of KPIs Target Score =Aggregate Total x 80 / 100 Weightage (A) 40 10 Self rating Appraiser's Rating (B) Weighted avg score WA= (A*B)/100 Comments 0.00 0.00 5 0.00 10 0.00 10 0.00 10 0.00 5 0.00 10 0.00 0.00 0.00
- 18. KRA based Appraisalform- Page 3 (Sample) Section 2 : Critical Behavioral Attributes (CBA) (20% of the TIK Score) Critical attributes are those behavioral characteristic identified by the organization which are important to achieve one's present role and develop oneself for future role requirement.. Sr 1 ATTRIBUTES (Behavioral Characteristics/ Factors/Traits/Qualities) RATING SCORE (1 to 5) Self (A) Appraiser (B) Comments Communication Skills 2 Relationship Maintaining & Building 3 Time Management 4 Client Orientation 5 Results Orientation 6 Teamwork For Assistant Managers & Above 7 8 Leadership Business Acumen Aggregate Total ( sum of individual Bs)/ No. of CBAs 0.00 CBA Score = Aggregate Total x 20 / 100 0.00
- 19. Appraisal Procedure • EmployeeDetails • Self Appraisal by the Employee • Appraisal by the Immediate Reporting Manager • Moderation by the Reviewer i.e. Profit Center Head • Data collection and analysis by HR • Decisions taken • New KRAs set based on the data
- 20. Bonus Policy • • • • • • Scope: Coversall the confirmed employees Applicable for the F.Y. 1st April to 31st March Purpose: To reward employees for their contribution Eligibility: Junior consultant and above Bonus amount will correspond to performance rating Rating components: Employee weightage, Team weightage and company weightage • Bonus earned: Revenue generating departments (i.e Operations, Sales, MICE, CPP, GRE) can earn maximum 3 months bonus of gross salary 1
- 21. Bonus Policy (contd…) •Bonus Earned: Support departments (i.e Accounts, HR, Administration and IT can earn maximum of 2 months gross salary) • Eligibilty criteria : Confirmed employee as on March 31 • Scored a KRA rating of 3 and above • Scored performance rating of 3 and above. • Process • Bonus slab • Payout: Along with the salary of June
- 22. Coming Soon Reward andrecognition policy
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Editor's Notes
- #2 {"4":"20 20 match example- more out of less, focus, strategy, speed and excitement\n"}