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KRA’s (GOAL SETTING)

Goal Setting -KRA

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Page 1: Goal Setting -KRA

KRA’s (GOAL SETTING)

Page 2: Goal Setting -KRA

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Setting ofKRAs

Mid TermPerformance Review

Compensation & Rewards, Training &Development, Career & Succession Planning

Appraisal & Feedback

Business Goals

PMS MODELPMS MODEL

Page 3: Goal Setting -KRA

HOW TO DERIVE KRA’s

Page 4: Goal Setting -KRA

BUSINESS GOALS

STRATEGY, VISION, MISSION & BUDGET

ORGANIZATION’S OBJECTIVES

DEPARTMENTAL / FUNCTIONAL OBJECTIVES

ROLE / INDIVIDUAL OBJECTIVES

KEY RESULT AREA (KRAs)

Page 5: Goal Setting -KRA

WHY SET KRA’s?

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KRA’s need to be aligned to the Business goals and need to communicate a common purpose

Alignment

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WHAT GETS MEASURED,

GETS DONE…!

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PURPOSE

To Aid each Manager in promoting the most effective use of Human Resource such that each member makes an Optimum contribution to the Company’s Performance

Page 9: Goal Setting -KRA

OBJECTIVES OF GOAL SETTING

• To provide as objective as possible an analysis of how well an individual is performing in his current responsibilities based on goals set, results achieved, & satisfying the customer, both internal & external.

• To promote a shared understanding of the task & relationship among the supervisor, sub-ordinate, internal customer / external customer.

• To aid in determining performance rewards that are commensurate with results achieved.

• To prepare a development plan required to improve the individual’s performance / capabilities / develop his/her for future responsibilities.

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R1 + R2 = R3

Resources Relationship Results+ =

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DEFINITIONS

Goals : A goal is a significant shorter term measurable target , which will contribute to a result in a period of time (usually a year)

Result : A result is a fulfillment of a Goal which can be measured. (Output)

Activity : Activity can be anything an Individual does

Page 12: Goal Setting -KRA

COMMITMENT

TIME MONEYSOCIAL

SUPPORT

Commitment : There must be a commitment by both Boss & Sub-ordinate(s) to achieve a goal.

WHAT IS COMMITMENT ?

Page 13: Goal Setting -KRA

GOALS ARE MEANT TO STIMULATE PEOPLE, NOT TO HANG THEM

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MOTIVATION FACTORS :

• Achievement

• Responsibility

• Recognition

• Creative & Challenging Work

• Possibility of Growth on the Job

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A GOAL HAS 3 PARTS: -

• What accomplishment is wanted ?

• How much accomplishment is wanted

• Date Goal has to be achieved ?

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POINTERS IN GOAL SETTING

• Set Attainable Stretch Goals

• One is more stimulated if he/she feels Goals are Fair !

• Set Weights on each Goal - weight represent the value of the Goal , not the time that is going to be spent on each Goal.

• Ask “ In Order To ? ”

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GOAL CLARITY

• One must know on the 1st of April what he / she has to accomplish to get a 4, 3, 2, or 1.

• Spend 60% of Time in Setting & Clarifying Goals & 20% of Time on Year End Appraisal.

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Plant ManagerKey Result Areas

• Operational Costs

• Product Quality

• Production Targets

• Product Development

• Technological Change

• Return on new investment

• Fixed asset utilization

• Management - union relations

• Local Government Relations

• Safety

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Plant Manager

My Own Areas• Operational Costs

• Return on new investment

• Fixed asset utilization

• Management - union relations

• Local government relations

My Subordinates’ Areas

• Product quality

• Production targets

• Product development

• Technological change

• Safety

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Activity Goal

Conduct monthlymanagement developmentsessions for superintendentsin techniques of standardcost programme.

Have 50% superintendentsusing standard costprogramming techniques onat least two projects w.e.f.October 2005

Prepare quality controlmanual for supervisors

Eighty five percent of first-line supervisors to know eightof the ten key points incompany quality contralpractice by April 2005

Page 21: Goal Setting -KRA

KRAs (Goals) SET FOR ________________________________________________

Employee Name:

Department :

Sr. No. Personal Targets / Main KRAs Quantification of target /Measure

(Expected Outcome)

Weightage tobe assignedout of 100 %

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