Internal Reconstruction Corporate accounting by bhumika Garg
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Interview in Performance Management Report
1.
2. RELATED PUBLICATIONS FROM THE KPI INSTITUTE
The KPI Dictionary - 4,800+ KPI Definitions Vol. 2: Industries
Select the right KPIs for your business by understanding their definition and calculation formula!
KPI Dictionary Vol. II focuses on presenting key performance indicators structured on 25 Industries:
⢠Agriculture
⢠Arts and Culture
⢠Construction % Capital Works
⢠Customs
⢠Education & Training
⢠Financial Institutions
⢠Government â Local
⢠Government â State / Federal
⢠Healthcare
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⢠Manufacturing
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Access The KPI Dictionary - 4,800+ KPI Definitions Vol. 2: Industries at:
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The KPI Dictionary - 3,200+ KPI Definitions Vol. 1: Functional Areas
Stay ahead of your competition by measuring the right KPIs!
KPI Dictionary Vol. 1 focuses on presenting performance indicators grouped into 16 functional areas of
a business, each having several subcategories. The book covers KPIs from the following areas:
⢠Accounting
⢠Corporate Services
⢠Corporate Social Responsibility
⢠Finance
⢠Governance, Compliance and Risk
⢠Health, Safety, Security and Environment
⢠Human Resources
⢠Information Technology
The KPI Dictionary Vol. 1 can be used in the early stages of implementing a performance
management framework, in the process of selecting and documenting KPIs, but also to improve
an existing performance measurement system. Start selecting the most suitable KPIs for your
business!
Access the The KPI Dictionary - 3,200+ KPI Definitions Vol. 1: Functional Areas at:
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The KPI Compendium
Explore the most comprehensive catalogue of documented KPIs examples!
The KPI Compendium is a concise, but comprehensive work that presents over 20,000 Key
Performance Indicators that have been identified as being used in practice. It provides practitioners
with a powerful tool to weigh together or to compare practical examples of KPIs coming from
hundreds of business areas.
The main three categories under which KPIs are listed are:
Global â containing sub-categories such as Administration, Quality of Life, Environment and
Pollution and many others;
Organizational â further clustered into sub-categories based on industries and functional areas;
Personal â addressing personal productivity and well-being, divided into sub-categories such as
Home Economics, Personal Development, Fitness and Work-life balance.
The Compendium was designed to facilitate the identification and usage of KPIs in practice. The
importance of these indicators in the decision making process turns this Compendium into an
indispensable tool for both individuals and organizations.
Explore the greatest guide to identifying the best KPI selection for your organization!
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⢠Non-profit / Non-governmental
⢠Postal and Courier Services
⢠Professional Services
⢠Publishing
⢠Real Estate / Property
⢠Resources
⢠Retail
⢠Sport Management
⢠Sports
⢠Telecommunications / Call Center
⢠Transportation
⢠Utilities
⢠Knowledge and Innovation
⢠Management
⢠Marketing & Communications
⢠Online Presence â eCommerce
⢠Portfolio & Project Management
⢠Production & Quality Management
⢠Sales and Customer Service
⢠Supply Chain, Procurement, Distribution
TheKPIDictionary
The KPI Dictionary
TheKPIDictionary
esearch and education, providing through
KPIs. It runs five main research programs,
nisational strategy. The main program,
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oduction. Global Perspectives. Practitionersâ. Perspectives. Academicsâ
napshot. Country Profiles. Country Legislations. Trends in Search. 2013
ams. Main Events in the field. Job Trends. Salaries. Bestselling Books.
s. Communities. Corporate Performance Management Software. Business
Management Software. | Interviews. Argentina. Australia. Brazil. Bulgaria.
. Netherlands. Nigeria. Philippines. Qatar. Saudi Arabia. Thailand. Uganda.
d Scorecard. Business Intelligence. Business. Performance Management.
d.Employee Performance.Employee Performance Management.Enterprise
nce Plan.Individual Performance Management.KeyPerformance Indicators.
ment.Performance Appraisal.Performance Criteria.Performance Evaluation.
Management. Performance Management Plan. Performance Measures.
e Review. Scorecard. Strategy Execution. Strategy Implementation Strategy
ment. | Educational Degree Institutions. Aston University. University of
University College Dublin. Erasmus University Rotterdam. ESCP Europe.
eriot-Watt University Edinburgh Business School. University of Leicester.
ce.MIP Politecnico di Milano.Monash University.NewYork University Stern
University of Liege HEC Management School. University of Pennsylvania
o. University of Sydney. European University Cyprus. Maastricht School of
alermo.Universityof Bradford-Bradford UniversitySchool of Management.
iversity of Oxford. University of Ottawa - Telfer School of Management.
roll School of Management. Davenport University. Georgetown University.
ne. The Chinese University of Hong Kong. The Hong Kong University of
hool. National University of Singapore. University of Cape Town Graduate
. | Performance Management Events. 2013. Vancouver, British Columbia,
Al Bustan Rotana - Dubai, United Arab Emirates. Sao Paulo, Brazil. San-
Kenya. Istanbul, Turkey. New Delhi, India. Barcelona, Spain. Lucca, Italy.
eorgia. Loch Lomond, Scotland, UK. London, UK. Rydges Lakeland Resort,
h, Saudi Arabia. San Francisco, California. Brussels, Belgium. | Job trends
ager. Performance Management. | Industry salaries analyzed. Automobile
rvices Charitable Organizations. Chemicals. Computer Services. Computer
nsumer Services. Education. Food. Manufacturers. Electronics. Energy &
ent. Health Care. Leisure. Media. | Book Categories. Business Performance
ement. Employee Performance Management. Enterprise Performance
ment. Operational Performance Management. Performance Management.
er Reviewed Journals. Top 15. | Portals. Top 10 Most Visited. | Communities
lligence. Corporate Performance Management. Employee Performance
ftware. Corporate Performance Management. Overall Satisfaction versus
omparisons. Business Intelligence Software. Magic Quadrant for BI 2013.
adrant for Talent Management Suites. | 203 countries reviewed. 66 with
Afghanistan.Albania.Algeria.American Samoa.Angola.Anguilla.Antarctica.
a. Australia. Austria. Azerbaijan. Bahamas. Bahrain. Bangladesh. Barbados.
n. Bolivia. Bosnia and Herzegovina. Botswana. Brazil. British Virgin Islands.
Cambodia. Cameroon. Canada. Cape Verde. Cayman Islands. Central African
olombia. Comoros. Congo. Cook Islands. Democratic Republic of the. Costa
mark. Djibouti. Dominica. Dominican Republic. Ecuador. Egypt. El Salvador.
Islands (Islas Malvinas). Fiji. Finland. France. Gabon. Gambia. Georgia.
sey. Guyana. Honduras. Hong Kong. Hungary. Iceland. India. Indonesia. Iran.
pan. Jersey. Jordan. Kazakhstan. Kenya. Kiribati. Korea, North. Korea, South.
n.Lesotho.Liberia.Libya.Lithuania.Macau.Macedonia.Madagascar.Malawi.
.Mauritania.Mauritius.Mexico.Micronesia,Federated States of Micronesia.
Morocco. Mozambique. Mozambique. Namibia. Nauru. Nepal. Netherlands.
orfolk Island. Norway. Oman. Pakistan. Palau. Panama. Papua New Guinea.
land. Portugal. Qatar. Romania. Russia. Rwanda. Saint Helena. Saint Kitts
Grenadines. Samoa. Sao Tome and Principe.
. Seychelles. Sierra Leone. Singapore. Saint
South Africa. South Africa. Spain. Sri Lanka.
d. Taiwan. Tanzania. Thailand. Timor-Leste.
nisia. Turkey. Turkmenistan. Tuvalu. Uganda.
ed Arab Emirates. United Kingdom. United
Virgin Islands.West Bank.Zambia.Zimbabwe.
PERFORMANCEMANAGEMENTIN2013
E
T
2ne
Organizations use principles, tools
and techniques of Performance
Management to ensure that the
purpose of their existence is fulfilled.
RESOURCES
Best selling books . Latest published books
and articles . Portals . Communities
SOFTWARE
Corporate Performance Management
. Business Intelligence . Employee
Performance Management
9 781478 181019
Interviews
4,800+
Key
Performance
Indicator
definitions
3. 1
INTRODUCTION
PERFORMANCE MANAGEMENT IN 2014: GCC SPECIAL EDITION
Š 2014 The KPI Institute Ltd.
All Rights Reserved.
ID Number: TKI0141001
ISBN: 978-1512222524
An appropriate citation for
this report is:
The KPI Institute, 2014, Performance
Management in 2014: GCC Special
Edition, Melbourne, Australia
Indemnity statement
The KPI Institute has taken due care
in preparing the analysis contained
in this publication. However, noting
that some of the data used for the
analysis has been provided by third
parties, The KPI Institute gives no
warranty to the accuracy, reliability,
fitness for purpose, or otherwise of the
information. The KPI Institute shall
have no liability for errors, omissions
or inadequacies in the information
contained herein or for interpretations
thereof. The opinions expressed herein
are subject to change without notice.
Published by:
The KPI Institute
Editorial coordination
Aurel Brudan
Editorial team
Diana Zarnescu
Adelina Chelniciuc
Denisa Calin
Marcela Presecan
Design
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Executive summary
Performance Management in 2014: GCC Special Edition
was a relentless year in terms of Performance Management advancements,
and it has brought forth what we now consider to be the next age in this
domain: an age of maturity, of thoughtful decisions, of respect gained and earned, of hard
work and commitment.
This new age in Performance Management is what we celebrate through Performance
Management in 2014: GCC Special Edition. This year, the success of the previous reports
developed by The KPI Institute has highlighted the need for a more introspective look
into this specific field, on certain areas across the globe. Thus, the two special editions of
Performance Management in 2014, namely the GCC and the ASEAN ones accompany the
Global edition.
The time has come for us to migrate, from viewing the whole picture of this discipline, to
studying details found in different regions of the same picture. This special edition of the
Performance Management report series is the material representation of the discipline
across one region, comprised of six countries: United Arab Emirates, Saudi Arabia, Qatar,
Oman, Bahrain and Kuwait.
What draws interest in performance management within the Gulf Cooperation Council
region is the successful incorporation of elements specific to the area. The region is a
leader in terms of innovative business solutions, transplanting and executing plans from
paper to reality with high levels of efficiency and effectiveness. A preview of performance
management in the GCC is represented by the Adaa 2.0, which prevails as the updated
version of the first Arabian performance management software. The UAE continues
to transpose its National Vision into reality, by relentlessly improving itself based on
performance monitoring systems and Kuwait rose its petroleum industry to new peaks
grace to better business management.
PerformanceManagementin2014:GCCSpecialEditionispartoftheannualserieswiththe
same name, developed by The KPI Institute with the purpose of revealing the methodical,
non-pertaining and truthful state of performance management, as it is implemented today
by organizations, governments and nations across the globe.
The content which ensues aims to bring forth the specificity of Performance Management
within the GCC, among others. The two paths followed are defined by what sets GCC
practices apart, but also what aligns them with the rest of the world.
Extensive and exhaustive analysis has stood at the base of each section of the report,
from insights into each of the six countryâs specific Performance Management system, to
the interviews given by experts in this discipline, to the complete range to educational
programs which incorporate Performance related courses within their curriculum.
Work has begun on launching additional publications as part of this series. Feedback
regarding this edition and inputs for future editions are highly appreciated by our team
and should be directed at editor@kpiinstitute.org.
Editorial coordination:
Aurel Brudan
2014
4. Introduction
Around the GCC
Trends
Perspectives
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Executive Summary
Visual Summary
About the Report
Map Overview
Country Profiles
Country Legislation
GCC Insights
Trends in Search
Media Exposure
2014 Statistics
Map Overview
Introduction
GCC Perspectives
Practitionersâ Perspectives
Academicsâ Perspectives
Consultantsâ Perspectives
Interviews
Perspectives Around the GCC
6 30
About the Report
Trends
5
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6. 15
PERSPECTIVES
PERFORMANCE MANAGEMENT IN 2014: GCC SPECIAL EDITION
1. What does the term Performance
Management mean to you?
To me, Performance management is an
ongoingprocessbywhichanorganizationcan
identify, measure, and develop the efficiency
and effectiveness of its employees, teams and
various other work structures, in alignment
with the strategic goals of the organization.
2. What drives interest in Performance
Management?
Similar to a coin which has two sides, interest
in Performance Management also has two
aspects which are closely integrated.
The first aspect is the organizational
perspective on value creation. Organizations
believe that, in order to ensure long
term sustainability and competitiveness,
it is imperative to have an established
performance management. It has received
even more attention in the recent times
of globalization, high competition and
economic turmoil across the globe, due to
which organizations are becoming more and
more vigilant about the effective resource
utilization and retaining high performing
employees for greater revenue generation. All
Practitioners
Interviewee name: Neeti Adish Chauhan
Title: Compensation, Benefits and HRIS
Organization: New York University Abu Dhabi
Country: United Arab Emirates
of this drives the interest of organizations in
Performance Management.
The other aspect is focused around
employeesâ perspective. In line with Dan
Pinkâs study, employees need purpose in their
jobs. Through performance management
systems, employees are able to see their
contribution in the organization, which
makes them realize how they fit into the
bigger organization picture.
Thus, keeping a systemic approach,
the interest in Performance Management
is driven by the fulfillment of the above
two factors, both leading to enhanced
organizational performance and its longer
term sustainability. The organizations have
begun to understand that having an effective,
strategically aligned, and well executed
Performance Management system is an
inimitable competitive advantage.
3. What are your thoughts on the
relationship between Performance
Management at organizational,
departmental and individual level?
Performance Management acts like a
binding glue which brings alignment,
coherency, and synergy across levels in
an organization, both horizontally and
vertically. It ensures that every employee
contributes towards organizational success
and provides visibility to their contribution.
Cascading organizational strategy down to
departmental and individual level through
specific objectives, and KPIs, ensures all
organizational entities work in tandem
towards organizational success. Itâs like
different parts and components start working
together, while reinforcing and supporting
each other, to make this large machine called
organization function successfully for the
achievement of its purpose and goals.
4. What are the 2014 key trends in
Performance Management from your
point of view?
I think one of the most significant trends
is that organizations are beginning to
realize the significance of Performance
Management. Now, they see it as an essential
element for ensuring employee motivation
and organizational success. Although some
are still contemplating implementation of
performance management system, others
have already gone ahead with doing it.
However,Ifeelthatthereisstillalongwaytogo
as, in most of the performance management
systems,organizationsarestillstrugglingwith
achieving internal and external alignment.
Additionally, predominantly it is still seen as a
measurement mechanism, rather than a tool
for continuous monitoring and enhancement
of performance. This paradigm shift, along
with ongoing engagement of leaders and
employeecommunity,isstillworkinprogress,
7. 16
PERSPECTIVES
which would require an extensive amount of
effort and communication.
5. What aspects of Performance
Management should be explored more
through research?
I have witnessed that one of the greatest
challenges in any Performance Management
System is setting the right objectives
and KPIs. There is often a debate around
subjective versus objective KPIs. I believe
this field requires some more work
through research and industry practices.
Additionally, performance management
is still seen as being relevant for profit-
making organizations only. More research
and case studies demonstrating the ROI of
performance management for non-profit
organizations is required. This will facilitate
seeking buy-in, and being more confident
about putting organizational efforts and
resources in this direction.
Finally, the linkage between performance
and rewards should also be explored further
through research in order to develop best
practices around it, as currently some
studies confirm it is essential to have tangible
rewards, but others suggest intangible
rewards are more effective.
6. Which companies would you
recommend to be looked at, due to their
particular approach to Performance
Management and subsequent results?
I would be highly keen to look at the
performance management process for several
fastgrowing,highlyreputed,andtopemployer
ratedorganizationsacrosssectorslikeGoogle,
Apple, Microsoft, FedEx, Harvard University,
UAE Government, etc. I would be curious to
see the common themes in these different
organizations, industries and sectors. For me,
these themes would be the best practices for
the body of performance management. In
addition to this, I would also be keen to know
the âworst practicesâ as a way to learn from the
mistakes of others and to be a step ahead by
knowing where NOT to put efforts.
Finally, I am highly interested in knowing
how The KPIs Institute, an authority in
the field of performance management,
manages this process internally, within the
organization. That would be a great learning
opportunity for performance management
practices.
7. Which are the main challenges in
todayâs Performance Management
practice?
As I mentioned before, the most
fundamental challenge in todayâs
performance management practice is to see
it as an essential organizational practice.
Most of the organizations do not see it as
crucial as it is in reality. They focus more
on routine operations which, to them, are
bread and butter for the organization. So, the
first obstacle to cross is to achieve focus and
commitment (of time, resources, people, etc.)
for Performance Management systems. Once
this is achieved, half the battle is won.
Other challenges include setting effective
objectives and KPIs, lack of sufficient best
practices and knowledge sharing across
organizations and sectors, and keeping the
rigor and engagement as a continuous and
never-ending process.
8. What do you think should be improved
in the use of Performance Management
tools and processes?
I think the first thing that needs to be
improved in the use of Performance
Management tools and processes is the
paradigm shift in organizational culture.
Thisrequiresenhancedfocusonperformance
management in every single pocket of the
organization through extensive leadership
support and a seasoned change leader.
Further still, the system will produce
results only if the objective and KPIs are
cascaded down from organizational strategy
and are mutually reinforcing, not conflicting.
Also, the KPIs must be well-communicated to
employees so they understand and embrace
themwell.Thiswillrequireenormousamount
of efforts around communication, not just to
the leaders and managers, but also down to
the front-line employees.
In a nutshell, after designing effective
tools and processes, the key prerequisite,
which needs to be improved for the success
of a performance management system,
is - Communication, Communication and
Communication!!! - which is open, free and
multi-directional.
9.Whatwouldyouconsiderbestpractices
in Performance Management?
As I mentioned before, I feel there is still
great amount of work needed to develop
best practices in Performance Management.
However, based on my learning and
experience, I would consider the following
as some of the existing best practices which
can be adopted universally:
Internal Alignment: Vertical alignment
with organizational strategy and
horizontal alignment with other processes,
departments, units and peers.
External Alignment: Alignment with the
changeshappeninginexternalenvironments
e.g. changes in customer preferences, labor
market, economic conditions etc.
Effective Communication: Well
communicated processes ensure
understanding and buy-in. There must
be sufficient caution applied to ensure
that the communication is transparent,
free, open and multi-directional so all
employees can freely share their thoughts,
doubts and feedback.
Dynamic Process with On-going Focus:
Once designed, the process should not be
considered as carved in stone. There must
be on-going follow-up, monitoring, feedback
seeking and flexibility to modify the KPIs and
process based on any of these valid reasons.
Thisensurestheorganizationisalwaysinsync
with its internal and external environment, as
loosing this alignment would be detrimental
for its growth and sustainability.
10. Which aspects of Performance
Management should be emphasized
during educational programs?
I think one of the key components that must
be emphasized during educational programs
is its significance for organizational success,
and alignment with other components of
the organization. Performance management
does play a pivotal role in providing inputs to
other areas like learning and development,
promotions, career development,
recruitment, rewards management etc.
It is essential for young professionals to
understand this linkage and leverage on
it. Also, I have noticed that most of the
educational programs focus on designing an
effective performance management system.
I believe this is just half the story. In order
to be successful, performance management
professionals must know the other half as
well, i.e. system mechanics comprising of
the real challenge of execution, which needs
extensive change management efforts. A
recent literature study by Payyazhi Jayashree
and Syed Jamal Hussain (2011) suggested
that 70% of Change management efforts
fail. Hence, it is essential for professionals
to understand the practical aspects of
challenges encountered, and commitment
needed to execute successful performance
management.
11. Which are the limits in order to
achieve higher levels of proficiency
in Performance Management among
practitioners?
There are several factors that act as
[âŚ]the key prerequisite,
which needs to be improved
for the success of a
performance management
system is: Communication,
Communication and
Communication!
â
â
8. 17
PERSPECTIVES
PERFORMANCE MANAGEMENT IN 2014: GCC SPECIAL EDITION
limitations to achieve higher levels of
proficiency in Performance Management
among practitioners.
Practitioners are provided a mandate
by the senior management to implement,
or manage a performance management
system. However, the required top-down
support is often missing. Due to their busy
schedule, leaders fail to commit sufficient
ongoing time and focus required to
achieve higher proficiency in performance
management. Unless there is perceived
leadership support through regular
communication, rewarding desired results
and behaviors etc., desired outcomes are
not achieved.
Another factor which does contribute
to insufficient success of performance
management is an out-of-sync system
whereby the KPIs and objectives are not
linked with the organizationâs strategic goals
andarenotbalancedfromvariousqualitative
and quantitative perspectives. This becomes
even more challenging in current times of
instability and constant flux which requires
constant changes in the strategic direction.
Sometimes, obsolete objectives and KPIs
may also start acting counter-productively
to organizational success. Performance
management professionals should choose
to partner with employee community to
establish more relevant and realistic KPIs.
Another key challenge is the lack
of employee engagement in driving
performance management. However, this
can be achieved by fulfilling the above
mentioned factors.
12. If you are to name, in a few words,
the main aspects governing Performance
Management today, what would they be?
The main aspects governing Performance
Management these days are Strategic
Alignment and Balanced Performance.
Organizations are looking for a system
which generates positive results. When we
saypositiveresults,wemeanvaluegeneration
which is in line with the strategic and
operational goals of the organization. Thus,
havingasystemwhichdrivestheachievement
of organizational goals is the key governing
principle of Performance Management.
Secondly, in todayâs highly competitive
environment, achieving only the bottom-
line results is not sufficient. Organizations
are compelled to adopt a more balanced
approach towards organizational growth.
Balanced Scorecard is a perfect example for
this, whereby organizations explore several
dimensions like revenue generation,
customer service, people development
and process improvement, for evaluating
overall success.
In a nutshell, contemporary practices
around performance management are
focused on value creation and contribution,
rather than just a measurement tool.
13. What is your opinion on the emerging
trend of measuring performance outside
working hours?
Again, as I mentioned before, to be able
to achieve maximum benefit from any
performance management system, it must
be seen from a balanced perspective.
In terms of best practice i.e. Balanced
scorecard, various factors are considered,
like setting objectives and KPIs e.g.
Customers, Revenue, People Development
and Internal Process improvement. If
we, and we should, extend the definition
of balanced performance, we do realize
that the employeeâs life beyond working
hours, including physical and mental
well-being, family life, social life and
community work, does contribute to his/
her productivity and, ultimately, affects
the overall organizational performance.
This aspect of an employeeâs performance
has been ignored so far. However, with the
diminishing boundaries between personal
and professional life, and the need for
retaining and developing employees with
the right attitudes and personal attributes,
this aspect does require more focus and
must be kept in consideration while
evaluating oneâs performance.
Having said this, we are yet to understand
the practical implications of this. It would
require great amount of judgment and
caution to determine where to draw the
boundaries. It should be enough just to help
employees in keeping their personal goals.
Thedownsideisthatitcouldgettooinvading,
and impact their privacy. It might appear as a
burdentothem,anditmightalsobackfireand
start acting counter-productive to employeesâ
well-being and overall performance. Still, a
long way to go in this area!
14. Are you using any kind of personal
performance measurement tools? If yes,
please describe how this has influenced
your life.
I think I have been doing this since my
childhood. I have always had a set of
personal goals for myself, earlier as a
student, daughter and sister; and now also
as a working professional, mother and wife.
I understand that each of these areas has
been equally important to me, and I never
had any option to put one over the other.
Thus, personally, keeping a set of goals for
each area helps me set the right priority
and be successful in every area of my life.
Keepingvariousgoalsonmyradarfacilitates
regular monitoring and modification in my
approach, or action plan, if needed.
In addition to meeting my goals, it has
also helped in maintaining my mental
and physical health by reducing stress,
enhancing personal fulfillment, enriching
social life, enhancing self-esteem and
personal development. Overall, a more
accomplished and happier me!
15. Do you have any tips for successfully
managing oneâs work-life balance? What
are your thoughts?
From my personal experience, the key
to manage work-life balance is, firstly, to
see them both as holding equal priority in
your life. It is extremely essential to draw
boundaries and not allow them to get
intermingled, unless sometimes, when it
becomes critical to do so. I believe mixing
them both results in not being able to focus
and commit fully to any of these.
My recommendation is to dedicate
yourself fully to every significant part of
your life. For example, when you are at
work, commit 100% to it and when you
are with your family and friends, give them
your 100% time and attention â they have
the right to get that. I believe that if you
manage your time and set priorities well,
you are able to achieve this. Someone once
said to me, âyou have time for everything
which is of priority to you.â It has stayed
with me since then. Set your priorities right
and you would focus better, commit better
and contribute more.
16. Which are the recent achievements in
generatingvalueasresultofPerformance
Management put in practice in your
organization?
Performance Management has been
instrumentalinbringingclarityanddirection
to employees, through effective objective
setting, measurement, and feedback. We
haverevieweditseffectivenessinmoredetail,
and a great amount of work is being done to
strengthen the link between organizational
strategy and employee contribution.
The aim is to achieve greater harmony,
coherency, and synergy across various
organizational components. The intention is
to adopt performance management system
as a management tool which would feed into
Talent Management, Resource Allocation
and Management, Budget and Finance
management, Employee Engagement etc.,
all of which would contribute towards
long term success and sustainability of the
organization.