Introduction - Performance Management

Question 1

What is Performance Management [PM]?

Answer 1

• Performance Management involves the continuous alignment of individual and team goals to those of the Organization.
• It aims to create an environment where employees perform to the best of their abilities, contributing effectively to the organization’s goals and objectives.

Question 2

What is the purpose of Performance Management?

Answer 2

Its purpose is to improve the overall performance of individuals, teams and the Organization as a whole.

Question 3

What method is used in collecting Performance Management data?

Answer 3

Data is collected from past sales/collections reports, branch minutes, game changer awards, client feedback, managerial observation, training records, etc.

Question 4

Who is involved in the Performance Management Process?

Answer 4

You, Your Senior Most Supervisor & members of the HR Department.

Question 5

When and how often are performance management appraisals done?

Answer 5

Performance Appraisals are conducted Bi-annually, in June and December of each year.

Question 6

What are the key focus areas assessed by Performance Management?

Answer 6

Performance Management assesses the following:

(i) the quality & accuracy of work,
(ii) Ability to meet sales/collections targets,
(iii) Communication skills,
(iv) Job Knowledge and efficiency,
(v) Teamwork & Collaboration,
(vi) Initiative, Innovation & problem-solving,
(vii) Customer focus.
(viii) Safety and Compliance.

Question 7

What does one expect after Performance Management?

Answer 7

• Performance feedback discussions,
• Performance Improvement Plans,
• Salary increments,
• Promotions/Demotions,
• Scholarships,
• Goal-resetting/redefinition,
• Recognition.