“The days when the performance of the employees was assessed once a quarter, twice a year or once a year by the administrative managers or human resource professionals are over,” S. Vijayalakshmi, Associate Vice President, Payoda Technologies said during the hebdomadal pensive organized recently by the Coimbatore Management Association (CMA).
“Why do you need a performance management in a company”, Vijayalakshmi asked the members of CMA, who were entrepreneurs and HR administrators of companies. In order to reach the desired vision of a company, achieve their individual targets, to know their competency levels, areas of strengths and weaknesses were the obvious answers given by the members. Vijayalakshmi did agree with them and went on to explain the importance of the new trend that has come into vogue in the analyzing methods of the performance these days.
According to Vijayalakshmi, people are the real asset of any company. “A company has to instill into the employees’ mind its vision and mission right away,” she says.
Companies these days disseminate the feedback among the people concerned right away, which provides a clear direction to the employees. Global giants like GE and Infosys give their feedbacks on a daily basis. These assessments will give the companies as well as the employees a good view about their performance level, Vijayalakshmi said.
Earlier, there were annual review meetings for the employees. But now, the trend has changed, since the employee is expected to forge his objectives with key results. “Every individual has to be SMART in a company,” said Vijayalakshmi and continued, “the acronym for SMART refers to work that is specific, measurable, achievable, realistic and time related.”
However, an employee performs well only when his hard work gets the recognition it deserves. “In order to make him perform, an employee has to be given the credit as soon as possible, which is very much possible in the digital era. It could be a promotion, or appraisal which will make him perform even better,” she believes.