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Transcript of KRA Process Note - aptalk.inaptalk.in/phocadownload/KRA Process note.pdf · KRA Process Note. KRA...
KRA Process Note
KRA Setting Guidelines
• Before setting KRA ; focus on why the job exist and not on what the employee does.
• KRA decided should align with Organization's Vision , Mission and Business Goal.
• KRA to be set after mutual discussion between the Appraiser and Appraisee.
• KRAs are to be reviewed bi-annually.
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What will happen if financial objectives are met, BUT
• Customers are not satisfied / delighted
• Processes are not streamlined
• Organization is not building its capability
It is of utmost importance to focus on non financial objectives (Customer, InternalProcesses & Learning), along with Financial objectives. As…
Now Let’s create our KRAs on these Perspectives.
Learning & Growth
Better Processes
Increased Customer value
Improved Financial
Performance
Defining KRAs
KRA Framework(Perspectives & their descriptions)
• Shareholder view of performance.
• Effective Cost Management. Financial
• Customer Service
• What does the organization need to do to remain a customer's valued supplier?
• New Markets
• New Products
Customer
How do customers see the organization. Particular area of
focus will include :
• Critical internal processes in which organization must improve for satisfying customers & shareholders.
Processes
• How can we continue to improve & create value forcustomers & stakeholders?
• Self DevelopmentLearning & Growth
• How can we build high performance teams?Team
Sample Goals in each Perspective
Financial
•SAMPLE GOALS:
•Sales Revenue
•Profitability
•Operating Cost management
•Growth
•Return on investment
Customer
•SAMPLE GOALS:
•Customer Satisfaction
•New Customer acquisition
•Customer Profitability
•Responsiveness
•Customer Retention
•Average time to process orders
Processes
•SAMPLE GOALS:
•Quality performance
• Inventory Management
•Streamline Processes
• Improvement in technology
•Efficiency improvement
•Productivity / capacity improvement
Learning & Growth
•SAMPLE GOALS:
•Product diversification
•Competitor's tracking
• Improvement in strategic / operational skills
•Self Development
Team
•SAMPLE GOALS:
•Team Capability development
•Developing Successor
•Team Recognition & Retention
S.M.A.R.T. is an acronymfor the 5 steps of Specific,Measurable, Achievable,Relevant, and Time-basedgoals.
Specific
Measurable
Attainable
Relevant
Time Based
Key attributes of KRA's
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Specific
Measurable
Attainable
Relevant
Time Based
The statement describing the desired result
has to be clear and concise.
Objective should clearly specify who will
achieve what, when and under what
circumstances.
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Specific
Measurable
Attainable
Relevant
Time Based
Goals need to be such that the desired result can
be clearly measured or observed.
Statement of objective should state how success
will be measured, which may involve cost or time
constraints.
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Specific
Measurable
Attainable
Relevant
Time Based
Desired results must be realistic.
The objective should include some element of
challenge and it should not be so overwhelming
that the achievement seems hopeless.
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Specific
Measurable
Attainable
Relevant
Time Based
Achievable business goals are based on the
current conditions and realities of the business
climate.
Objective should have direct relevance to the
individual.
Statement of objective should have an impact
on work performance now or in the future, or
that they will have some influence on the
trainee’s personal development.
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Specific
Measurable
Attainable
Relevant
Time Based
Objectives need to have a time frame in which
the desired result is expected to be achieved.
Business goals and objectives just don’t get done
when there's no time frame tied to the goal-
setting process. Whether your business goal is to
increase revenue by 20% or find 5 new clients,
choose a time-frame to accomplish your goal.
For any Questions / Support
Please contact your HR BP
THANKYOU
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