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Five ways to work out a new set of KRAs.
Just when many have let out a collective sigh of relief at appraisals being over, a new set of key result areas (KRAs) needs to be cleared.
Firms have made their variable component higher and the criteria more rigorous, so nothing short of achieving them completely would ensure a good take home at the end of the stipulated period.
However, there are ways to make the goals look simpler and attainable for a smoother year ahead.
Do a fish bone analysis:
Once targets have been given, an executive should develop the flowchart of programmers to develop, training to receive or give, and parameters that will help him or her reach the desired goal.
Called the fish bone analysis, the employee will then have to talk to different departments which will support him. "Business metrics have to be defined and converted into quantifiable metrics and linked to the final goal.
It should be in cause-and-effect terms," says
Draw up an action plan:
The boss should be consulted on stages that need to be reached to achieve the KRAs. "Chalk out a detailed performance action sheet," says SM Gupta, HR head of Bangalore-based ITeS firm Aegis.
With each KRA there should be a 'smart principle' where goals are broken down. The manager must ensure the status is checked regularly, while the executive has to list daily, monthly, quarterly, half-yearly tasks.
Prioritize targets:
A list will help the executive chart out areas that require immediate attention, training, or assistance from other teams. There will also be the long-stretched goals, which the employee should deal with separately.
Start with clear goals:
To make goals more achievable, the supervisor has to give a set of tangible goals.
So if he wants sales to increase, then he has to hire employees, add distribution centres etc, and not follow a feel-good syndrome during performance review, says K A Sudarshan, co-founder of EMA Partners in India.
Bring HR to the table:
KRAs can be made more tangible if there is a discussion between the HR and business heads on the goals of the financial year and how they are important in improving organizational performance, says Srinivas Nanduri, partner board & leadership hiring, Maxima Global Executive Search.
Once these goals are clear, the individual can make KRAs fit into the overall milestones.
Article Courtesy - Economic Times
Five ways to conduct informal employee checks
Background and reference checks have become the golden rule of hiring in large companies due to instances of fraud or inflated cvs, but come with heavy costs. ET shares how one can save through informal background checks.
Scan social networks:
Social networking sites like Facebook, LinkedIn, Twitter or Orkut can be a happy hunting ground to find out about a candidate's details. "Facebook and LinkedIn are two forums which give real feedback about a candidate, since the references they give will always hold them in good stead," says HR firm Aspire Human Capital CEO Amit Bhatia.
Use your connections:
Try and leverage your own business network and contacts to find out more about a candidate. "The network will always give rational feedback on a candidate. One can also tap business contacts in the same company where the prospective candidate is currently employed to get as much details," says Ma Foi Randstad MD & CEO E Balaji.
Just run a search:
Sometimes, an internet search about a candidate can throw up information that can help you form an opinion about a candidate. This is more so for middle and senior managers.
Check with affiliates:
These days, several professionals are affiliated with professional organizations. "A call, email or visit to such affiliate organisations will provide details and help to verify qualifications and work experience," says Reshmi Ghosh, an HR consultant.
Devote time:
HR experts suggest spending as much time on undertaking a background check as on interviewing a candidate. Balaji suggests that for senior management hiring, it is always better to undertake a thorough check through a professional agency. "Otherwise, the risks are greater," he says.
Article courtesy of Economic Times