KRA And Weight On Each Task - Specific To Finance Function - CiteHR
Aguinn
Management Consultant/business Advisor
Ppatodi
Service

Prime Sponsor - FactoHR.com - Payroll Software with GPS Enabled Attendance, Travel, Performance Management, HRMS. Explore Features
HI,

can Any one help in making me understand the KRA and the weights to be given for Finance people.

The key points is that the jobs in finance are taken as routine jobs, and therefore at times not counted as Key Areas. also the weights given to various jobs are many times how the superiors see them and not with the involvement level of the delivery manager.

Also when the delivery are done as per the agreed norms the rating found is 3 in the range of 0-5, where 0 is low 3 is acceptable and 5 is exceptional.

Does delivering all the goals without fail and with no compliance issue, brings the delivery into 5 rating criteria?

One specific point is handling salary management for 550 employees, without no support at junior level, only data entry processing is outsourced and the company who are not on integrated database and having 10 offices to gather information. The manager is expected to ensure 100% compliance in terms of timely payment and taxation of various reimbursements, which are not routed thru the payroll and done at respective locations and reported at various intervel on demand.

I am looking to your sussgestion as to How much weight should be given to this task for a manager on the total weight of 100.

I would be looking for your kind suggestion and advice.

Thanks

Pankaj
Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Pankaj:

In developing Key Result Areas with clients in various industries, I've discovered over the years that there are some significant issues with recognition factors specifically inherent to finance and inherent to marketing.

You've obviously recognized this, and that's what led to the posting.

Let me just say, first, that your single manager you've identified is expected to carry out all the various functions across several venues; does the company expect that he will complete all these functions without any issue, little help, and with no errors or omissions?

If so, that expectation level should--in my estimation--equal a 2.5 out of 5...and in no case more than a 3.

A 5 out of 5 in evalutative circles would mean that the employee extends his sphere of influence and decision making, as well as actions, significantly beyond expectations.

Rarely should a level of 5 out of 5 be expected.

Now to the key point at hand. You've asked a much more significant question in your posting. What value of 100 should significant responsibility carry? In this case, it should most likely represent 80% of the 100% total of the KRA.

It all goes back to the Analysis completed of the roles, however. What value does management attach to Finance? What percentage of rating is finance offered as one of the Key Result Areas of the business?

Depending on the business, it may be significant or it may be lesser.

As I mentioned, marketing is the same issue. Marketing, like finance, may or may not offer immediately measurable and attainable results.

Where performance perceptions interfere with KRA execution, the process must be kept pure for evaluative purposes. To not do so brings the process under scrutiny by those being evaluated.

Let me know if I can help further.

Alan
Dear Alan,
Thanks for your valuable input. In the current situation the level of delivery for this position is 3 for no supervised job, 4 with little supervision and 5 with no supervision. The position is at level of Manager.
one more point which needs more focus may be that the database is not integrated and all inputs for payroll needs to be taken from all locations and in various input formats, like prints, excel files, emails or over the phone.
Thanks again
Pankaj
Prime Sponsor - Talentedge.com "Interactive Anywhere Learning". Executive courses from top reputed institutes like IIM, XLRI, MICA. View Courses
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™