Workforce performance management is key to Organizations' success. A well motivated employee performs significantly better than other employees. Employees are the most important asset of an Organization and it is no secret that driving their performance equals to the better EBIT and targets achievement. Performance Management is the fuel to strategy execution.
People management has high impact on the performance. Hence it is important to spend time on individual worker's tasks and how achievements against the targets will be measured.
“Human assets are not just employees as we have been doing until now. Consultants and Freelancers performance measurement is equally important when they are involved in key strategic projects”
Performance can be tracked in different ways for an employee, consultant or freelancers.
For an employees, it is important that quarterly, bi-annually or annual targets are clearly defined and documented. The Manager should track them all the time instead of looking at them couple of times a year. While defining the targets, it is necessary to match them with company's strategy, so that employee understands how targets are feeding to the company's growth and future.
However, it is equally important that employee is acting according to the company values. So some of the targets can also be soft targets which are not measured in numbers but based on feedback and general understanding.
Consultants and Freelancers Performance
This is the area where more and more organizations are lacking as current Human Resources Information System (HRIS) or HR software do not support consultants or freelancers performance as core part of their offering. Also Organizations believe their performance is measured in monthly meetings against KPIs and SLAs.
But employees experience is ruined when consultants or freelancers are not performing as per expectations. Organizations are spending Millions to external human resources but risking the waste while not onboarding them fully.
Is Performance Management Necessary
Absolutely yes, Performance Management in a human friendly and transparent manner can make big difference in the overall annual results of the Organization. This is how strategy is defined into daily tasks for every person who works for the Organization. Hence it is equally important to extend performance management from employees to include consultants and freelancers.
Pemmex Performance Management is very easy and simple but powerful tool to Organizations' success. Our performance management can be integrated to any payroll system. The measurement criteria and targets are set together by Manager and the employee, consultant or a freelancer. The payout percentage against the performance targets are also set at the same time. Pemmex Performance Management gives powerful analytics and follow up capabilities to the Organizations' HR and Business Unit Leaders.