Employee performance management is a crucial aspect for the success of your company in India. Consistent formal performance evaluation is becoming more and more standard in India’s corporate sector and most recruits more than a couple of years out of college will be aware of Key Result Areas, Key Performance Indicators etc.
Using standard systems for performance management in India is really important to build fair and transparent company structures and hold people accountable to results. Managing by setting and measuring objectives important to the company’s growth is therefore a great way to go.
What is different from other countries is that it is better to review performance more than once a year – at least in brief. Regular reviews is important for performance management as this extra attention can really help maintain alignment to targets and highlight performance issues. To make it not too burdensome we would recommend one full annual review and 1-2 mid-year reviews with much shorter formats.
It is useful to do the performance review of the head of the subsidiary first. This then sets the process and the tone for his interactions with other levels of staff.
M+V’s Operations and Consulting Teams work together build your performance management system – culturally appropriate and tailored to get the most out of your team. Our consultants can help you improve efficiency in your HR systems and keep employee motivation and performance in check.