Developing Reward system
Leadership Development & Succession Planning
OPM-Managing Organizational Time
Balance Score card
Performance in any organization depends, to a large extent, on the capability of its people. Capability is the right mix of knowledge, attitude and skills needed for a specific job requirement. However it is difficult to judge the capability or the “right” competencies in the employee based on an education and experience (looking at the resume), interview (when hiring) or based on performance appraisal (when training or promoting).
Competency mapping is a systematic process of identifying the specific mix of knowledge, skills and attitude required for high performance for a specific job requirement, and measuring the same in employees to find the right match and to develop the train them in areas where there is a gap between desired level of capability and current employee capability.
- Hire and promote the “right” candidates based on right competencies
- Improve employee performance by training them in “right” areas
- More productivity, engagement and performance
- Highly skilled and motivated workforce
The evaluation of an individual’s potential to perform is a very important activity and often a problem for those responsible for the development of managers.
When done properly, assessment center is a very useful tool in the selection process as it predicts future performance in a short period of time and with better accuracy than any other method available. It is used to find out how a candidate will act in typical management situations through scientifically designed activities and observation and evaluation by skilled professionals. The activities are designed to elicit specific competencies needed to excel in a specific managerial position.
- Helps to assess existing employee performance as well as predict future job performance
- Scientific method for selection, training and promotion of candidates.
- Better insight in to job roles
- Cheap compared to the potential cost of many recruitment and promotion errors
- Employee development and engagement
People are hired for their technical skills and fired for their attitude and behavior. Personality Profiling is a psychometric tool to gain an insight into the “hidden” aspects of personality of an individual. Resume and experience can only help evaluate the technical competencies of the candidate. During an interview, the candidate puts her best foot forward and often it is much later after hiring her, that the company finds out about behaviors that are detrimental to the individual’s and the team’s performance. Personality profiling helps making better and scientific decisions to manage the entire employee lifecycle – hire, retain, develop and manage the employee.
- Personal and team effectiveness
- Better recruitment and promotion decisions
- Effectiveness in management
- Helps to recruit, retain, develop and manage the employee
Developing Reward system
Developing and implementing a proper reward system is essential to keep employees engaged and to retain them, which in turn is essential to the bottom line. Done badly, reward systems will end up making every employee unhappy and disengaged. Done properly, it will help retain and promote the right candidates, purely based on performance, and not just based on experience, age, seniority or chummy relationship with the superiors.
- Keeps employees motivated and engaged
- Increased productivity and lesser conflicts
- Retention of candidates who are contributing to organizational goals
- Sideline or let go of employees who are not performing
Leadership Development & Succession Planning
Leadership is the single biggest contributor and most accurate predictor of sustainable organizational performance. In most companies, people with good technical skills are eventually promoted into leadership positions. However, leadership role involves developing a different set of competencies as compared to technical ability. It is extremely important for any organization to have a systematic and ongoing process of grooming leaders and their successors.
In an era when employee loyalties are fleeting, and job hopping is common, it is critical to have a succession plan, at least for the key positions in the organization. Identifying such positions, and grooming subordinates to take up higher responsibilities and leadership roles, is not only a safeguard but also helps organizational performance
- Strengthen relationships and trust
- Develop high performance teams
- Foster a culture of change, adaptability and innovation
- Discover and effectively communicate vision and values.
- Achieve employee engagement along with organizational performance
Senior executives today face multiple challenges and shifting priorities. The pressure to perform is more intense than ever. If a junior employee has problems and issues he will go to a superior. But where would a senior executive or a CEO go? Who would they use as a sounding board?
As people move up the career ladder, honest and accurate feedback becomes more and more difficult. How will a senior executive is to identify their shortcomings and develop their strengths? Executive coaching provides a solutions to all these concerns, in a safe and confidential environment and significantly improves performance and job satisfaction, while reducing stress.
Even the most successful athletes in the world still have a coach, although they are the best at what they do. Coaching is the only effective way to change behavior and performance of any senior executive. Training doesn’t have desired long term impact – nor do senior executives have time to attend days of training.
There are several benefits of coaching both in personal and professional life. Coaching is a one-on-one relationship that helps improve performance in personal and work life.
- Help you discover clarify & align your goals with company’s mission & vision
- Focus and channelize your energy and attention to achieve those goals
- Improve motivation and accountability
- Increase self-esteem and confidence
- Communicate more effectively both at work and in personal life
- Stay motivated through the ups and downs
- Increase the levels of your health energy and happiness
- Transform individual’s potential into business performance
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” Charles Darwin
This quote by Charles Darwin is meant for the survival of species – but is equally true for survival and growth of business in today’s rapidly changing business landscape. Businesses understand the importance of managing change – however the ability to manage change is altogether a different matter.
About 70 percent of significant changes implemented by firms, such as mergers and quality improvement initiatives, fail. Resistance from employees is one of the major reasons that change initiatives in most businesses fail. Reasons behind this resistance include fears of job lay-offs, increased workload, contentment with the status quo and poor understanding of the need for change. Business owners should effectively manage the change process to counter this resistance.
Making employees understand the importance of change as well as equipping them with the tools to be able to manage change, instead of resisting it, is key to organization’s ability to manage change and not only survive but thrive in today’s business environment
Managers traditionally have had the task of contributing to the effectiveness of their organization while maintaining high morale. Today, these roles often have to be balanced off with the reality of implementing changes imposed by senior management. Managers who have an understanding of the dynamics of change are better equipped to analyze the factors at play in their own particular circumstances, and to adopt practical strategies to deal with resistance.
- Systematic framework for managing change
- Accept that there are no normal or abnormal ways of reacting to change
- See change as an essential element that is positive
- Recognize that adapting to change is all about attitude
- Identify the stages of change we go through as we learn to deal with change
- See change as an opportunity for self-motivation and innovation
- Develop strategies for dealing with and accepting changes in your organization
OPM-Managing Organizational Time
We all have heard the saying – “Time is money”. But individuals and companies hardly ever treat time as they treat their money. All companies have budget for money, very few companies give equal importance to managing organizational time. Establishing right culture and best practices in managing time, emails, meetings, and priorities goes a long way in managing productivity and performance of the individual, teams and the organization.
Regardless of profession – corporate executive, business owner, homemaker or student – most of us have more things to do then we have time to do them. Hence we are always looking to become more productive and to be able to do more work in less time. There are lot of misconceptions and confusion about what productivity is and how to become productive. Contrary to what many people think being productive is not about learning some high tech tools, techniques or gadgets. It is relatively simple and easy to increase personal productivity once you understand the basic tenets of productivity. Learn the best practices for managing time, emails, priorities and meetings that are used worldwide by some of the largest and most successful companies in the world.
- Identify and consistently focus on highest priorities
- Learn simple techniques to manage email and information overload
- Learn to manage your focus and your energy throughout the work day
- Learn to sequence and prioritize your day, based on a weekly plan
- Be in control of your workday and life
Balance Score card
Do you want to broaden your company’s performance measures beyond just financials to include process as well as customer and employee perspectives?
Help your company translate its mission and vision into a detailed strategy map — a conceptual model outlining the factors that drive performance with the help of Balanced Score Card.
A survey by IIM Ahmedabad of 53 leading Indian corporates indicated that 45% have adopted the Balanced Scorecard – including Tata Motors, Infosys, Godrej, Philips and TCS.
Balance Score Card focuses attention on the importance of non-financial measures – and causes companies to take a 360 degree perspective of the business.
It has four balanced perspectives:
- Internal Business Processes
- Learning & Growth
- Improve organizational performance by measuring what matters
- Increase focus on strategy and results
- Align organization strategy with workers on a day-to-day basis
- Focus on the drivers key to future performance
- Improve communication of the organization’s Vision and Strategy
- Prioritize Projects / Initiatives
TQM is based on quality management from the customer’s point of view. Total Quality Management (TQM) is a management approach that originated in the 1950s and has steadily become more popular since the early 1980s. Total quality is a description of the culture, attitude and organization of a company that strives to provide customers with products and services that satisfy their needs. The culture requires quality in all aspects of the company’s operations, with processes being done right the first time and defects and waste eradicated from operations.
Eight key elements for implementing TQM successfully
- Strengthened competitive position
- Adaptability to changing or emerging market conditions and to environmental and other government regulations
- Higher productivity
- Enhanced market image
- Elimination of defects and waste
- Reduced costs and better cost management
- Higher profitability
- Improved customer focus and satisfaction
- Increased customer loyalty and retention
- Improved employee morale
- Enhanced shareholder and stakeholder value
- Improved and innovative processes