The key barriers to an effective performance appraisal system are lack of skill in setting goals/reviewing performance, lack of skill to have meaningful, ongoing, discussions and ability of managers to distinguish levels of performance and provide appropriate feedback.
We at Circular Angle view performance management process as a holistic and on-going process which provides key indicators for talent development initiatives. Through our structured design and on-going evaluation process we help companies apply a consistent rationale for individual evaluation and appraisals across all functions, identifying competency / skills gaps, identifying high potential employees & consistent performers, creating open and transparent communication and feedback mechanisms, and assisting in rewarding and recognising good performers.
However, to establish a successful performance management process, the focus must be towards crafting performance indicators which are key to the business, having immense and rich knowledge about various industries, we have curated a unique way to establish business KPIs and then drilling them down to the lowest level in the hierarchy which not only cascades strategy but also provides means to identify data points which leads to effective monitoring of performance at all levels.
Our Way Of Working
Stakeholders like Function Head, Sub Function Heads , Leads should be a part of the KPI setting workshop for their department and their team to ensure buy in at a later point.
Senior leaders should be sensitized with performance evaluation and feedback process so that once the process is put in place, it is being applied seamlessly across all functions.
Workshop methodology helps in closing expected outcomes faster and in a structured manner.
To enable the PMS process, it is imperative to have technology solution in place. It will help bring transparency and enable effective monitoring of the process.
The PMS solution facilitates regular reviews, helps track development plans, compare records and provides reporting on key metrics.
Prashant Karmalkar, Managing Director Circular Angle, on Performance Management