New to KPIs: Can They Really Help with Promotions and Bonuses? Seeking Advice!

Dear Friends,

I am new to KPI and intend to implement it as a performance management tool for my company. I would like to know if KPI can be used for both increment/promotion exercises and bonuses. If so, do you set different KPIs? It will be great if you could share with me how KPIs would be used as a weightage to assess an employee.

Thanks and best regards,
Babyboomer

I am sorry for my candid but fair comment that tools like KPI, etc., are an eyewash. Increments are given based on the likes and dislikes of the superiors; the KPI and other tools are used to aid these decisions. They do not judge a person's productivity or contribution. The HR department may invest a lot in all such tools, but it is impossible to eliminate subjectivity from such assessments. On the whole, the use of such tools turns out to be a banner-raiser exercise for HR and nothing else.