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Casual Articles - Should you Measure Individual People's Performance?
Starting a new business is one thing, actually getting paying clients is another. Clients won't know you're starting a new business unless you tell them. So you have to start telling people right away.Here are some tips for getting the word out:You should have at least 50 people on your contact list. These are the people you are going to let know that you are starting a new business.Start with family members outside of your immediate family - brothers, sisters, cousins, aunts, uncles, parents, grandparents, nephews, in-laws, cousin in-laws, sister-in-laws.The next set of people who should know you are starting a new business are your immediate circle of friends - friends, neighbors, the parents of your kids’ friends, your parent’s friends.Now think about where you spend your money. The people you do business with should know you are starting a new business - hopefully they will return the favor. Take out your credit card statements and bank statements. Look at all the people you send money to on a personal basis every month. Accountants Attorneys Cleaning services Babysitters Contractors Doctors Dentists Stock brokers Hairdressers Repair persons Insurance agents Tutors and instructors VeterinariansYour list will be more extensive, but this is a start to the number of people you need to tell you are starting a new business.When you do business with companies where you have direct contact with an owner, manager or decisi
Business processes are similar to a river flowing in a natural direction and carrying information from point A to point B. Value Stream Mapping (VSM) is one of the techniques used in Lean Six Sigma for identifying areas of waste that need to be avoided in both manufacturing as well as office business processes. Aside from identifying areas of waste, VSM also helps in streamlining business processes for achieving higher productivity. VSM is based on scientifically proven methods, making it necessary for organization to employ profession Six Sigma consultants (VSM specialists) during the implementation stage.The Initial ProcessImplementing VSM is a long drawn process where the first step involves mapping the current flow of materials or information in key business processes of an organization. The mapping is done with the help of flowcharts that depict the flow of goods or information from one end to another. The flowchart also contains information about the average time taken for the completion of various sub processes. For generating a comprehensive flowchart, consultants often gather inputs from business heads, floor managers or factory workers. While creating the flowchart, key sub-processes are highlighted using specific icons. This helps in pinpointing areas where waste and inconsistencies are happening. The flowchart also helps in understanding the complexity of a business process, which needs to be simplified for increasing efficiency.Future State Of Value Stream MappingIn the next step, VSM consultants disc
INTRODUCTION
Performance Appraisal, Individual Performance Review, Personal Performance Development Plan. There are numerous names for this artifact of the post-1990's organisation, but they are names for basically the same concept: the measurement, review, evaluation and management of the performance of an employee. And it is one of the most contentious management processes of them all!
WHY ORGANISATIONS DO IT
There are many reasons why managers continue to use individual performance appraisals, despite their love-hate relationship with them:
- to motivate staff to perform better, to contribute more to the organisation's results
- to reward and recognise great performers
- to validate decisions to get rid of (or manage) poor performers
- to give staff the opportunity to continually learn and develop
- to make the organisation and its processes perform better
- to inform succession planning and promotion decisions
The intentions behind almost every employee performance management system are good and just. It's about making things better. But are they really making things better, the way most organisations currently design and implement them?
WHY PEOPLE ARE ASKING FOR HELP
It seems that the majority of organisations will claim they have some kind of individual performance evaluation process, but that it doesn't work the way they want it to. There are some very common criticisms about it. For one, when they come to doing the evaluation or appraisal, managers don't have much objective evidence about how the person performed, what they really produced or the size of their contribution to team or organisational outcomes. In such cases, the appraisal process leans to shaky subjective impressions of the boss, or a tick-and-flick review of the actions that the person was supposed to take. Objectively isolating the value the person contributed to the organisation is impossible.
Another common criticism is that the appraisal process drives the wrong behaviours. People know they can only be judged on how much they do or contribute, so they try to do a lot, or try to do things alone in order to isolate their contribution from the contributions of others. Outcomes and team work are not the focus, and the organisation actually suffers as a result. Resources are wasted on activities that don't improve business growth or customer service. Conflict and competition arises between employees that should other
and fruitful beginnings…In life, a process that begins properly will increase the chance of accuracy all the way through and a successful conclusion. The world of commercial finance can be complicated as every project is unique. There are many programs and products available but every application is as different as the applicant. The part of this process that is universal is the preparation. Some may tell you that luck is the residue of preparation but in reality, preparation is the prerequisite for sustained success. Whether you are starting a business or seeking to expand one, the fundamentals of preparation cannot be forsaken and discipline must be applied. This article intends to address the commercial loan process and how one begins a business and sustains growth and prosperity.Starting a business for the first time can seem like one of the most difficult things you do but if you view it as a process and not a destination, the journey will be far more pleasurable and the rewards, more sweet. Some people like to dive right in and start plotting and planning how much money they’ll make and how they’re going to make all this money. Such a dive may often be a flop, as it lacks meaning. Aristotle once said: Life without purpose has no meaning. The purpose of diving right in appears correct, as one eagerly rushes to make money but what’s the meaning of starting your own business and have you defined the parameters? So to begin, let’s explore some procedures of the process.1. Define who you are? – Yes, that means
There are many reasons why managers continue to use individual performance appraisals, despite their love-hate relationship with them:
- to motivate staff to perform better, to contribute more to the organisation's results
- to reward and recognise great performers
- to validate decisions to get rid of (or manage) poor performers
- to give staff the opportunity to continually learn and develop
- to make the organisation and its processes perform better
- to inform succession planning and promotion decisions
The intentions behind almost every employee performance management system are good and just. It's about making things better. But are they really making things better, the way most organisations currently design and implement them?
WHY PEOPLE ARE ASKING FOR HELP
It seems that the majority of organisations will claim they have some kind of individual performance evaluation process, but that it doesn't work the way they want it to. There are some very common criticisms about it. For one, when they come to doing the evaluation or appraisal, managers don't have much objective evidence about how the person performed, what they really produced or the size of their contribution to team or organisational outcomes. In such cases, the appraisal process leans to shaky subjective impressions of the boss, or a tick-and-flick review of the actions that the person was supposed to take. Objectively isolating the value the person contributed to the organisation is impossible.
Another common criticism is that the appraisal process drives the wrong behaviours. People know they can only be judged on how much they do or contribute, so they try to do a lot, or try to do things alone in order to isolate their contribution from the contributions of others. Outcomes and team work are not the focus, and the organisation actually suffers as a result. Resources are wasted on activities that don't improve business growth or customer service. Conflict and competition arises between employees that should othe
Capital is normally required for three possible applications, namely:1. Fixed Capital:Fixed capital refers to your business needs to buy fixed assets. This means that you need the capital to buy things like buildings, machines, computers, vehicles and furniture. These items are normally purchased for use in the business and not for resale. The purpose is to generate sales. They do not have a resale value and can be liquidated again, but in most instances lose value over time. This is called depreciation. Depreciation is seen as an expense and is recorded in the income statement. Land is the only item that does not depreciate. Fixed assets on the other hand are recorded in the balance sheet. When planning your business you must determine how much you will need for fixed assets. This capital will then be fixed and will not be available to for something else. Note that there is generally a cost linked in obtaining such capital. This will limit the amount that you can justify. careful planning of your fixed asset requirements is therefore necessary.2. Working Capital:Apart from buying assets for your business, you will need cash to run your business. Capital that will work for you and generate a profit. Working capital is used to buy items like raw materials, paying wages and electricity. Since you wont have have an unlimited amount of money available and sales income is not always sufficient, planning your money supply is very important. To know how much money you are going to need an
The intentions behind almost every employee performance management system are good and just. It's about making things better. But are they really making things better, the way most organisations currently design and implement them?
WHY PEOPLE ARE ASKING FOR HELP
It seems that the majority of organisations will claim they have some kind of individual performance evaluation process, but that it doesn't work the way they want it to. There are some very common criticisms about it. For one, when they come to doing the evaluation or appraisal, managers don't have much objective evidence about how the person performed, what they really produced or the size of their contribution to team or organisational outcomes. In such cases, the appraisal process leans to shaky subjective impressions of the boss, or a tick-and-flick review of the actions that the person was supposed to take. Objectively isolating the value the person contributed to the organisation is impossible.
Another common criticism is that the appraisal process drives the wrong behaviours. People know they can only be judged on how much they do or contribute, so they try to do a lot, or try to do things alone in order to isolate their contribution from the contributions of others. Outcomes and team work are not the focus, and the organisation actually suffers as a result. Resources are wasted on activities that don't improve business growth or customer service. Conflict and competition arises between employees that should othe
Every human being wants and needs to feel important, so it is inevitable that when people work long hours in close environments something will happen that may spark a power struggle. Simple matters can appear to take on a life of their own because of the different personalities involved.Whether you're fighting with a colleague who took credit for your work or you were excluded from a meeting that was important, be strategic in your approach to resolving the issue.Assess the situation. Before you engage in any power plays, evaluate the different ways to resolve the issue and choose the best one. Consider each plan of action and know what you want the outcome to be, and then act.Seek advice. Get counsel from an experienced, well-respected business mentor. Listen attentively and try to see all sides of the issue.Don't take it personally. Business is a game and everyone wants to win. Unfortunately, some people want to win even if it means cheating, backbiting, and engaging in unethical behavior.Be professional and stay calm. Power struggles are a test of your problem-solving and leadership skills. If you lose your composure you've already lost the game.Familiarize yourself with personality types. Study your personality type and those of your colleagues so you can understand yourself better, build alliances, and influence people.Ramp up your self-confidence. Power struggles can pull at the fabric of your character if you all
Another common criticism is that the appraisal process drives the wrong behaviours. People know they can only be judged on how much they do or contribute, so they try to do a lot, or try to do things alone in order to isolate their contribution from the contributions of others. Outcomes and team work are not the focus, and the organisation actually suffers as a result. Resources are wasted on activities that don't improve business growth or customer service. Conflict and competition arises between employees that should othe
There is a great deal of information available from professionals about the importance of taking the steps necessary to accomplish a focused plan for the future of your career. Elements suggested include establishing a good network of personal contacts, developing a winning resume and cover letter, connecting with appropriate recruiter resources, and more. With all the information that a truly effective career search requires, two things become very apparent:1. Your system of planning should be able to allow you a way to focus the resources and information you will be using to accomplish your success.2. Your working system for centralizing all this important information should remain intact, easily accessible, and viable for the next time you will need it.Appropriate organization of the information you collect is vital to managing the information in ways that make sense to you. If you are using a computer for launching a job search as if it were a full time task, you are not performing efficiently if you are leaving information all over the place, or even losing its focus between periods of looking for work. Career management should incorporate the flexibility and features of a calendar based personal planning tool to gather, focus and retain all the job search related information needed. This focused approach also helps to inspire the detailed recording of essential intelligence gathered during the interviewing and selecting process, which offers a great refresher resource when used again.After experimenting
Then there can be the problem where people can't agree on what the performance standards are or should be. They have different ideas about what is possible, about what is achievable, and therefore what can be judged in the performance appraisal process. People don't want to be held accountable for the results they contribute to, because they are not in complete control of those results. And in many instances, the performance appraisal reduces to a check of whether or not activities were completed, as opposed to the size of the impact those activities had on organisational performance.
And, in general, we just don't like criticizing each other, or taking anything away from others. Especially when performance reviews are tied to remuneration, managers can find themselves in an ethical quandary when the numbers say that someone doesn't get their bonus, but their gut feel is that the numbers are missing something more important. People who stick to their performance plans are rewarded, and those that stray from the plan and produce innovative solutions to organisational problems are not able to be rewarded. People who follow the safe road of predictable results are rewarded, and those that make mistakes that contribute to organisational knowledge and learning are "performance managed". People whose performance measures achieve targets despite their inaction are rewarded, and those that have diligently monitored, analysed and managed root causes to turn around a bad trend (but which hasn't yet achieved its target) are not rewarded.
Managers conducting performance appraisals are not finding it to be a meaningful process-they are just jumping through the hoops (especially if their organisation has a KPI like % of
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