Dear All, I need to understand the KRA/KPI for EPC sector in India and how the weightage is given, it would be of great help if anyone can share the business KRA/KPI and how weightage is given in accordance. I would also like to study as how is the pay mix happening in EPC sector and the variable payout bases the KRA/KPI. Any information related to EPC/Infra companies would be of great help.
Thanking all HR in advance.
25th January 2019 From India, Mumbai
Dear Prateek,
Though you have raised a small query on designing KPIs and KRAs, however, it is a subject matter of consulting. Please note the following:
a) Principles of Performance Management System are common for all the industries and these are not specific to the industries. Yes, KPIs are specific to the industry.
b) You need to hire an external consultant who is an expert in designing measures of performance. Please note that seasoned HR professionals also cannot design the KPIs for all the departments. Neither "well-experienced" professionals from the other department can do that. Designing KPIs is unique expertise and everybody cannot have it.
c) As far as allotment of weights (not weightage, please note) is concerned, it is the job of HODs. Weights are assigned to KRAs depending on the degree of the importance. This importance is best understood by the business heads and department heads.
d) You have asked KPIs specific to the EPC or the infra companies. However, please note that PMS is far more than "copy and paste" work. To design KPIs and KRAs, one has to study the systems and processes of each department. Based on this study, one has to identify the costs and ratios associated with the department. Later these need to be assigned to the respective HODs.
e) The exercise of allotment of KPIs and KRAs cannot be limited just to the individuals. In many companies, the PMS is limited to the salary increase. However, this is a wrong notion. You need to give primacy to the measurement of the organisational performance. Please note that organisational concerns must override individual requirements.
For further queries, if any, feel free to contact me.
Dinesh Divekar
25th January 2019 From India, Bangalore
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