Dear All, I need help from experts regarding KPI, KRA, and weightage to map the performances of each department in a manufacturing company. I am working with one of the MSME companies where Finance, Service, Sales, Applications, Quality, Stores & Logistics, and Operations departments are involved. I need to have weightage criteria for each department that covers each employee.
Finance Department's Weightage Criteria:
1. Operational Efficiency
2. Legal/Compliance payments - PF, TDS, TCS, GST, PT, ESIC, etc.
3. Cost reduction
4. Timely Working - Annual Returns, calculation, Queries - Audit
5. Data creation & Management
6. Non-operational Income
7. Payment Collection
8. Payment to Vendor
Please assist me with the same.
Archana
From India, Pune
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Finance Department's Weightage Criteria:
1. Operational Efficiency
2. Legal/Compliance payments - PF, TDS, TCS, GST, PT, ESIC, etc.
3. Cost reduction
4. Timely Working - Annual Returns, calculation, Queries - Audit
5. Data creation & Management
6. Non-operational Income
7. Payment Collection
8. Payment to Vendor
Please assist me with the same.
Archana
From India, Pune
Acknowledge(0)Amend(0)
Dear Archana Bapat,
Instituting a Performance Management System (PMS)
Instituting a Performance Management System (PMS) is a comprehensive subject. It requires a deep study of each department, understanding the costs and ratios associated with them, and then assigning them to the Heads of Departments (HODs).
While you may get help from a general forum like CiteHR, the suggestions made by other members may cause a mismatch between the proposed measures and the actual requirements. There is a risk of failure in designing the KPIs and KRAs due to this mismatch.
I have been providing replies on this subject for more than a decade. To refer to my past replies, you may click the following links:
https://www.citehr.com/577456-formul...ml#post2228293
Though the heading is for IT companies, the reply applies to all types of industries. In the above link, you will find several other links. Go through all the links patiently. It will improve your awareness of the subject.
Consulting Experience in Pune
Last week, I was in Pune to provide consulting services to establish a comprehensive PMS for the famous Pune FMCG company, Chital Bandhu Mithaiwale (CBM). Before the consulting services, their managers did not know the broad scope of the PMS. But when the consulting services started, they were surprised by it.
If you want an MNC-like PMS system, you may talk to the authorities concerned and organize my telephone call with them.
Thanks,
Dinesh Divekar
From India, Bangalore
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8066Instituting a Performance Management System (PMS)
Instituting a Performance Management System (PMS) is a comprehensive subject. It requires a deep study of each department, understanding the costs and ratios associated with them, and then assigning them to the Heads of Departments (HODs).
While you may get help from a general forum like CiteHR, the suggestions made by other members may cause a mismatch between the proposed measures and the actual requirements. There is a risk of failure in designing the KPIs and KRAs due to this mismatch.
I have been providing replies on this subject for more than a decade. To refer to my past replies, you may click the following links:
https://www.citehr.com/577456-formul...ml#post2228293
Though the heading is for IT companies, the reply applies to all types of industries. In the above link, you will find several other links. Go through all the links patiently. It will improve your awareness of the subject.
Consulting Experience in Pune
Last week, I was in Pune to provide consulting services to establish a comprehensive PMS for the famous Pune FMCG company, Chital Bandhu Mithaiwale (CBM). Before the consulting services, their managers did not know the broad scope of the PMS. But when the consulting services started, they were surprised by it.
If you want an MNC-like PMS system, you may talk to the authorities concerned and organize my telephone call with them.
Thanks,
Dinesh Divekar
From India, Bangalore
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Performance Management System.doc