Tag: Performance Management

Get started with OKRs with ease 

Objective and Key Results
Objectives and Key Results

Objectives and Key Results (OKR):

 This OKR methodology, popularized by John Doerr by his book “Measure What Matters” helps for a cultural shift at your organization to an environment that is a goal-oriented, with your Objectives driving day-to-day work. For this to happen, leadership must be bought-in to the program and drive decisions and execute with goals top of mind. To know more about objectives and key results (OKRs) visit our website.

Find samples: https://okrstars.com/resources-okr-examples

Objectives:

Objectives are memorable qualitative descriptions of what you want to achieve. They should inspire and challenge. For example: “Double the revenue to create a profitable and sustainable organization”.

Key Results:

 The metrics that measure progress towards the objective, and tell us if we’re getting there. For example. “Increase revenue from 10m to 20m USD”.

Refer our other article related to this topic: article

Types:

Type can be organization, team or individual ones. Type indicates the level at which the goal and key results (metrics) are at priority.

Time period:

They are timebound. Time periods help you plan, check-in and review the goals and its metrics at the right cadence. The goals and metrics (KR / KPI) have 4 Quarters time periods in a year and followed with Annual overall employee performance cycle.

Owner:

Owner is the person accountable for the success of the objectives. It is good to have a clear owner even for a team or organization level objective.

Progress:

You can measure progress as a percentage (0 to 100%) or as a KPI. Select KPI, if you are looking to move a metric from a starting to target number. For example, increase revenue from 10m to 20m USD.

Average Score: 

When the the goals are closed at the end of the quarter and the score is generated. Those un-closed Objectives and Key Results can be cloned and cascaded to next quarter based on the decisions.

Alignment: 

OKRs Alignment

Alignment is one of the most powerful features of OKRStars. By aligning your Objectives at an individual, team and organization level, strategically aligned Objectives and Key Results rapidly get everyone on the same page, working towards results that matter.

Goal Transparency: 

An employee can see the goals of anyone in the system, including the CEO, managers, and peers. Transparency promotes openness and eliminates work conflicts and redundancies. Employees can see how their work connects to the organization’s overall strategic goals.

Dashboard:

The summary of the over all goals appear on the OKR tool as shown below. We will write more details in coming blogs about it.

OKRs Dashboard

How can I ensure OKR (Objectives and Key Results) success at MY company?

  • OKR Champions: Quite often, it’s the effort of one key person in an organization (it could be you!) that takes initial ownership of a project and ensures its success. It could be a Chief of Staff, operations lead, or the most organized person in a given department. We love our OKR Champions and strive to give them all the support they need.
  • Leadership Support: While the energy of the OKR Champion is key, we’ve found that most successful rollouts also gain support from upper management / CEO. Thus, it’s critical that senior leaders educate their organization on the value of OKRs, explain why they are being implemented, reflect on their current culture, and identify key stakeholders.
  • Use the right SaaS tools: We believe OKRs are the best way to set goals, and that OKR Stars™ is the best tool to manage your OKRs. Why? Unlike spreadsheets or manual processes that quickly become unwieldy, Ally scales with your business and provides transparency across your organization.

Why have OKRs lead to success at so many companies?

Modern business moves at breakneck speed, and entire industries are being disrupted through new customer behaviors, aggressive competition, and changing market dynamics. 

OKRs provide a framework to allow companies large and small to set goals, stay agile, and make sure employees are on board with the latest strategy through the 5 superpowers mentioned in this video.

  • Focus: Because OKRs focus on just 3-5 goals per quarter, it forces organizations to focus on only the work that matters — and make hard choices to eliminate the tasks that don’t matter.
  • Alignment: Research shows that only 7% of employees understand their company strategy. OKRs help align company goals from top to bottom so that everyone is rowing in the same direction.
  • Tracking: OKRs are driven by data. Gone are the days when a manager and employee would set an annual performance goal. Today, agile companies use data to inform action and guide strategic decisions.
  • Transparency: A core tenant of OKRs is that anyone can view the goals and progress at any level of the company, from CEO to individual contributor, fostering accountability and collaboration.
  • Stretch: When employees are encouraged to set stretch goals to achieve what might not seem possible — and receive support when things fall short — amazing things happen.

Integration steps and summary of OKR framework implementation:

  • O and KRs (OKRs) setting with time periods (example: quarterly plans: Q1, Q2, Q3 & Q4)
  • CFR Automation (integration with      Microsoft Teams,      Slack tools & mobile apps) for instant goal updates visibility on team collaboration channels
  • Manual or Automatic Check-ins through KPI data source software integrations (example:      Jira Software). You can update progress of an O and KRs automatically by Jira as a data source or via rollup from children.
  • Continuous Performance Management options: Private & Public CFR automation, Check-in activity trends (goal status & metric)

Read more: Google Story, Scale Agile, Moonshot OKRs for VCs, CFR (Conversations, Feedback and Recognition).

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Scale Agile. Integrate Jira Software with OKR and CFR tools (with easy 3 steps tools demo video).

Scale Agile. Integrate Jira Software with OKR and CFR tools

Scale agile and Integrate Jira Software with OKR and CFR tools. Why would you want to combine Jira with OKR Software and a Performance Management System (PMS)? Data integration is a method of connecting teams and people all over the world to the company’s top priorities and accelerating growth. Productivity Data can help you manage your own results objectively, accurately, and continuously. Measure what matters in real time to reduce the cost of poor quality, meet SLAs, and increase revenue.

How does it help?

Dynamic Key Results: Track progress in real-time by automatically updating KRs and KPIs from your Jira account(s). Course Correction: Link Jira JQLs to Track & Course correct what matters the most at any layers of OKRs hierarchy or SMART goals. Agile at Scale: Fit your KPI framework using Jira data of Scrum, Kanban, Mixed methodologies to scale software Agile delivery.

How does it work?

Getting Access to Your Critical Data: Our REST API data integration connects directly to your Jira and, using JQLs, gathers key data points relevant to your business requirements. Epic, story, task, and bug are all terms used to describe a piece of writing. Integrate Jira to automatically track progress, the number of tickets opened, the amount of time spent, and the estimated time remaining (both original and remaining). Progress Monitoring: Because the Key Performance Indicators (KPIs) that matter for Key Results are linked, the integration auto-updates in real time the KPIs that require attention.

Jira Dashboard

Zero Installation, No coding, and only Configuration. Login to OKR Stars™ or Skills2Talent™ and add your Jira account(s). Add Jira Cloud Server URL, email ID & API Token of Jira account(s). Link your OKRs / SMART Goals with Epics, Stories, Tasks, and Bugs. Select Jira as a data source per connection. Add JQL queries from Jira account(s) to fetch the filtered data automatically to update OKRs / SMART Goals.

What are the ready-to-use KPIs?

Progress: KPI value (Starting metric vs. Target metric) and the percentage of tickets that have been completed: This is how you measure progress. A KPI value is the number of tickets and the number of tickets that have been completed. % The amount of time spent: As a KPI value, I put in how long it took me to log in (Starting metric vs. Target Issues) and how many tickets I finished: Ticket count as a KPI (Starting vs. Target) and percentage spent: Time is estimated as a KPI value (Starting metric vs. Target metric) and as a percent of that value. As a percentage and as a KPI value, the Remaining Estimate (in hours) shows how long it will take to finish the project.

Why should my company integrate our enterprise Jira tool with your PMS (Performance Management System)?

For CXOs: Enables leaders to monitor progress towards company priorities, accountability, and alignment.

For CIO: Integrate your OKR / Performance Management System (PMS) to maximize Jira’s ROI ($, Knowledge & data).

For CHRO: Digitize KPI tracking, drive people engagement & recognitions and promote continuous performance.

For Agile Team: Fit your KPI framework using Jira data of Scrum, Kanban, Mixed methodologies to scale Agile delivery.

For Engineers: Track progress in real-time by automatically updating KPIs by Jira account(s) and timely course correct.

We hope you found this blog on Scale Agile. Integrate Jira Software with OKR and CFR tools useful

Read more: Get started with OKR, Moonshot OKRs for VCs, Types of PMS

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Top 4 SMART Development Plans Needed For Performance Management System Of Your Workforce

performance management development plans
Employee career development
Top 4 SMART development plans in Performance Management

Need for Individual Development Plan during Performance Appraisals:

SMART development plans help you identify and develop the best talent required to improve your organizational strength and achieve today’s business goals with visibility and succession planning capabilities to support the future growth.

SMART development plan stands for:

S: Significant, Specific, Stretching
M: Measurable, Meaningful, Motivational
A: Achievable, Attainable, Agreed Upon, Action-driven
R: Relevant, Realistic, Results-oriented, Rewarding
T: Time-bound, Timely, Trackable, Tangible
With SMART development plans, you can increase employee engagement, foster professional growth, and development, and maximize career opportunities for top talent.

Different SMART development plans that should be assigned to your employees :

IDP (Individual Development Plan):

  • Reduces organizational risk: Identifies and addresses current and potential talent gaps to reduce the risk of poor business execution.
  • Ensures talent continuity: Develops and maintains a continuous supply of internal talent to fulfill critical job profiles and roles throughout your organization.

CDP (Career Development Plan) :

  • Optimizes career development in your organization: Enhances career development opportunities by mentoring programs linked to business strategies.
  • Increases employee engagement: Empowers employees to reach their full potential, advance their careers, and accelerate their learning with targeted development plans.

PIP (Performance Improvement Plan) :

  • Assigns the performance improvement plans: to improve employees’ contributions and engagement, business commitments, and expected results.

SDP (Succession Development Plan) :

  • Maximizes organic growth: Creates & tracks strategic succession planning processes that reach deep into the organization, align with business needs and drive better business outcomes.
  • Leverages workforce: Analyzes your organizational talent supply and talent demand so that you can make better decisions.

To achieve hike in your business growth with these development plans, reach to the software solution provided by skills2talent.com as a Talent Management Software integrated with open source IT to make it more cost-effective and request for an online demo to know more about Smart development Plans in Performance Management for an Organization.

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Top 5 Benefits Of Mobile App In Performance Management System 2019

Performance Management Softwre

Mobile app for performance management aims at greater employee engagement, higher and focused goal alignment and best organizational outcomes by encouraging in progress activities of your enterprise in the following ways:

  • WhatsApp Communication as a mobile-centric solution: It can engage your employees with an instant response on mobile platform anywhere anytime. Thus, HR team can mobilize HR assets to people with awesome user interface 24/7/365 days.
  • Effective Performance Management: It encourages managers to evaluate an employee’s performance more accurately and minutely across various review cycles during a year.
  • Distance is not a barrier: The employees and managers who are separated by distance can have performance pertaining to discussions easily.
  • Continuous Performance Evaluation: By providing and getting valuable feedbacks more frequently through the mobile app, the workforce can be enabled to align their goals with company’s objectives, in turn enhancing employee engagement.
  • Constantly keep employees and managers to be focused on performance objectives, in order to easily evaluate, track and complete them.

Confused about selecting a mobile app which can help you to meet the objectives of performance management in your organization? Then go to skills2talent.com to learn about their mobile app which is India’s first and only exclusive talent management mobile App on both iOS and Android platform.

 

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6 Benefits of a Chatbot in Talent Management 2019

HR software India

Research has proved that HR and recruiting chatbots are capable of minimizing the business costs heavily. As chatbots are already in use with the corporate, let us find out how chatbots can potentially help with Talent Management in more creative and smart ways.
• Impartial behavior: A bot always starts from a neutral and unbiased point as it doesn’t acquire preconceived opinion, it can be proved very much helpful in performing a cognitive interview for recruiting.
• Agile enough: Chatbots can be employed via SMS, emails, applications used for messaging and through websites also.
• Simultaneous engagement: with any no. of applicants, interviewing them as per the job role/profile requirements and responding to the interviewee questions as well. They can also be used to gain on-demand and real-time feedback for processes such as onboarding, offer management and induction training.
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• Promoting your employer brand: by differentiating themselves and maintaining their repo through advancement, originality, and responsiveness in their talks while interacting with the candidates during the course of recruiting and onboarding. Thus, a chatbot indirectly displays their company’s values and mission to the candidates.
• Help with scheduling: Chatbots can be used as an option to schedule interviews, talks and vacation time for the employees, instead of logging the information into their HR software or sending multiple messages/emails to HR people.
• Performance Management: Chatbots are designed and developed to accurately evaluate the performance of an employee based on employee skills, education, demography, manager ratings, years of experience, years associated with a company, employee engagement details, past performance, continuous performance conversations, 360 degree feedback and matrix reviews etc. along with social & personal profile(dob, gender, hobbies, time management, punctuality, leave records etc), combined with historical trends & deep insights of talent management KRAs. These exact predictions can drive the smart strategies and established a strong connection among recruiting, performance, learning, and engagement on top of core HR layer, which cannot be possible with an excel sheet or simple automation tools.
Confused about selecting a chatbot which can help you to meet the objectives of human resource management of your organization? Then go to skills2talent.com to learn about HIRA-chatbot which is implemented using customized talent management software services, in-application AI data and on-demand and predictive analysis using natural language processing algorithms and deliver the best digital-self-service.

 

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Talent Management Software – Need & Advantages

Talent Management System

Traditional HRMS vs Talent Management Software

HRMS is traditional, more administrative and mainly deals with salary, vacations, time management, incentives and complaints of employees whereas Talent Management is not only a process of attracting  & hiring skillful candidates but it also includes retention and development of its great performers.

Talent Management – Need & Advantages :

Talent Management is a process of transformation of skills to unbeaten talents by recognizing & motivating the skills & potential and therefore we called the whole journey as Skills2Talent (skills2talent.com). Here are 6 benefits of Talent Management Software which are going to revolutionize Talent Management of your organization and reform it into a strategic move.

  • Core Human Resources: You can maintain your organization data by keeping it in the cloud, manage competencies & HR framework, maintain employee central, manage resignations & retention and plan & track SMART plans also.
  • Recruiting & Offer Management: Consists of building talent pipelines, attract skillful candidates, application tracking, quick identification of target profiles, the hiring of top talents and effective onboarding with fitment and offer framework as well.
  • Performance & Succession Management: To manage & evaluate the performance of employees accurately it enables goal planning, assessment tools like 9 box grid & 360-degree feedback and extensive analysis through consolidated & overall performance reports for specific performance review cycle.
  • Compensation Management: In order to align compensation programs with your business you need to allocate budgets to support the strategies through budget planning & appreciate the contributions of employees in terms of monetary incentives.
  • Learning & Development: For motivation & development of best-performing employees, you need to map the roles, skills & proficiency, identify the learning gaps and provide self-learning through e-learning & instructor-led training, online quizzes & certification in the respective domains and follow a culture of knowledge sharing as well.
  • Business IT Application: Through the integration of your business IT on the cloud you can manage assets, documents, communication, content & tracking of utilization of resources, provide internal support to your customers with the help desk. Apart from that, you can also focus on employee engagement and HR & talent analysis.
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Planning for not only recruiting best employees but also wants to retain, maintain and cherish your productive and high performing workforce? Go for the integration of above 6 benefits at one place with the help of open source IT to make it more cost-effective by skills2talent.com and request for an online demo to know more about how these 6 strategies are technologically combined to help you bring best and smart talent into your organization, acknowledge their existing potential and to develop them further to keep hold of engaged and unparalleled employees.

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4 Must Have Features For Effective Performance Management Software

Performance Management Software

Performance Management & Evaluation

Performance Management & Evaluation is not only an indispensable but also an artful exercise which indirectly propels the success and prosperity of an organization. As every business needs to retain its experienced & talented workforce, enhance employee engagement, maintain a friendly corporate culture & last but not the least renovate and improve its employees’ skills, an effective Performance Management Software can be proved as a masterstroke in achieving all these requirements simultaneously in a smart way, if it is assembled with these 4 features:

  • Strategy development tools: can be used to ensure that the tasks assigned to employees are directly/indirectly aligned with goals and objectives of the organization. They enable development & management of goal plans, goal library, performance review cycle, the configuration of section types (like objectives, core values, behavior, job competencies etc), content sections, weights & eligibility group mappings, the configuration of bell curve distribution graphs etc.
  • Monitoring which provides transparency: An effective Performance Management Software must have a feature of getting a transparent look at each employee’s performance with the help of reports about the status of different goals & their weights for a specific performance cycle, core value reports, job competency reports, behavior competency reports for a specific performance cycle, reporting manager wise appraisal and overall performance reports etc.
  • Assessment tools: like 9 box grid provides an insight of multiple dimensions like performance vs. potential, objectives vs. behavior, attrition risk vs. loss of attrition etc to accurately measure the performance of each & every employee. On the other hand designing, distribution, collection, and analysis of 360-degree feedback form not only speed up the process of performance evaluation but also provide you an opportunity to focus on different and multiple perspectives.
  • Thorough analysis: With consolidated performance reports over multiple cycles (quarterly, half-yearly, yearly, multiple years) you can focus over the overall average score for an employee whereas with a feature of deep analysis you can have a view of content sections and their weights for a specific performance review cycle. You will also get recognition of stage-wise pending count for different stages like self-assessment, manager’s assessment, skip level approval, one to one meeting, employee acknowledgment and final stage for a specific performance review cycle.

Confused about selecting and investing in an effective Performance Management Software? Get a solution with Performance and Succession Management software module provided by skills2talent.com  and sign up for the free trial to get a deep understanding about how these four features are incorporated in one software module with the help of open source IT to provide an immense hike in your business growth.

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Top 4 Performance Management Strategies To Boost Up Your Organization Growth

Performance Management

Performance Management Strategies

Performance Evaluation is not a new concept in working world. It has been commonplace over the years. The need of the hour is for effective Performance Management to evaluate it accurately and precisely over the plethora of significant parameters. The performance of an employee in an organization depends upon various factors like accomplishment and implementation of tasks assigned to him/her, his/her potential, objectives, behavior, attrition risk, reduction by attrition etc. Research proved that these factors can be measured minutely and exactly by working with top 4 business strategies:

  • Goal Planning as a crucial phase of performance management: Design and assign SMART action plans to inspire and persuade employees according to specific department and role to achieve their goals that must be in turn aligned with the motive of achieving organizational objectives. SMART plans like Individual development plan (IDP) and Career development plan (CDP) together govern performance management of the employee by increasing employee engagement whereas Performance improvement plan (PIP) and Succession development plan (SDP) reach deep inside the organization, align with business requirements, and drive better business results.
  • 9 Box Grid as a versatile tool for evaluating performance: The 9-box grid is a versatile tool for evaluating an employee’s current benefaction and advance level of benefaction to an organization. As an employee can be judged over various frameworks like performance & potential, objectives & behavior, attrition risk & loss of attrition etc. simultaneously by providing ranks (high, moderate, low). After that the actions must be taken as per these rankings, for instance, an employee with low potential but high performance needs to be motivated in his/her assigned tasks or an individual with high performance and low potential needs more advanced level of training in his/her domain.
  • Consolidated Performance Reports: These report statistics can provide an ability to analyze, compare and keep track of an employee’s performance score across multiple portfolios like objectives, core values, job competencies, behavior and many more when consolidated for an overall average over multiple time spans(quarterly, half yearly, yearly or even a number of years).
  • 360 Degree Feedback as reactions to an employee’s performance: To measure an individual’s performance minutely develop a kickback culture in your organization by designing and distributing a feedback template consisting of few questions pertaining to the performance of the employee among his/her manager, peer group, subordinate, and the employee himself (self appraisal) so that you can have a look at different perspective of wider community to analyze high-quality employee assessments.

Think of best business outcomes? Reach your goals with a solution provided by skills2talent.com and opt for a demo/getting started guide of Performance and Succession Management software module to learn and experience how these four strategies are going to govern your business growth explicitly where they are technologically driven and assembled to form an effective Performance Management Software Application.
Continue reading “Top 4 Performance Management Strategies To Boost Up Your Organization Growth” →

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How Continuous Performance Management Can Inspire For Great Performance With fairness and accuracy

Performance Management

Skills2Talent_28_a

Annual performance reviews and bell curve are not effective in today’s millennials & business context!

How continuous performance management can inspire great performance with fairness and accuracy?

  1. Connect your employees with organization strategy and goals with multi-section performance management (objectives, core values, competencies, and behaviors)
  2. Improve the daily progress & achievements visibility of goals 24×7, 365 days anywhere, any device
  3. Managers can provide directions continually to employees to perform better with coaching, feedback, mentoring, support and reward badges
  4. Cascade goals to every employee using top management’s goal library as per department & role
  5. Provide smaller milestones, sub-goals & initiatives to break-down objectives with continuous updates provision
  6. Increase employee engagement and drive continuous performance management by parallel performance ratings by employee and manager from day one of goals
  7. Align workforce with the company, objectives using SMART goals, Balanced scorecard, KPA/KPI/KRA and MBOs
  8. Enable the informal conversation in review process between employee and manager and capture history of updates and accomplishments
  9. Collect the feedback on performance & behavior from inside and outside the project team (360, linear, matrix reporting, target individuals)
  10. Anniversary, financial and calendar year appraisal cycle models to effectively administer your salary increase budget outflow
  11. Visually access and compare the core values, job-specific and behavioral competencies
  12. Identify top performers and plan for leadership pipeline by 9 box grid comparisons
  13. Analyze the attrition risks Vs loss before promotion and succession decisions
  14. Grow talents using SMART plan libraries for IDPs (Individual Development Plans), Team development, Succession, Career development and Performance improvement plans

Check out how Skills2Talent continuous performance management cloud software can inspire for great performance with fairness and accuracy

If you have any feedback, suggestions, questions please feel free to post here. I am happy to assist/respond to you.

This article was first published in our blog Skills2Talent

Sincerely,

Vaidyanathan Ramalingam |  vaidya@skills2talent.com  |  www.skills2talent.com

 

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