How Can I Effectively Use Performance Management Results in Marketing?

Good Afternoon, All Readers,

I am new to the HR field and am in the process of implementing a Performance Management system. I have almost completed the process, but I am still deciding on how and where to utilize the results or outputs of this system.

The main area of focus is the Marketing section, and I am unsure of how to link these results and in what ways to utilize them effectively. I would greatly appreciate any suggestions or insights you could provide so that I can begin planning accordingly.

Thank you for your time and consideration.

Thank you for sharing it, Knowledgeable Presentation.

I am not getting a clear idea of how to use the results of PMS. For example, if performance is excellent, what can we offer besides a salary hike? I am planning how to link the results of PMS.

Incorporating Rewards and Sanctions in Performance Management Systems

For any Performance Management System (PMS) to be complete, it must incorporate the concept of rewards and sanctions into the system. Hence, in my PMS, the fifth concept is focused on Rewards and Sanctions. Without a link to reward or sanction, any type of performance management will be useless or irrelevant.

Rewarding performance must be clearly spelled out to avoid incorrect and arbitrary actions by superiors. These actions can lead to various consequences such as demoralization or burden to the company, especially when the cost implication of the reward is not properly planned in relation to its affordability and sustainability. A policy should be able to define the parameters of the entitlement that each performance level can have within budget. This way, employees will be motivated to further improve their performance year on year.

The link to sanctions for poor performance is equally important, especially if we want to ensure that everyone in the company is doing their jobs properly. Employees who are underperforming must be informed that their actions will not be tolerated by the company.

Best regards.

Developing Customer Bases and Assigning Key Result Areas (KRAs)

Marketing professionals are expected to develop at least three more customer bases for the sale of a certain volume within the budget. These bases could be domestic, Asian, and/or global. You need to assign Key Result Areas (KRAs) to identify potential savings in logistics within a specified time frame. For instance, road transport may incur higher costs, so assign KRAs to dispatch through rail rakes to achieve cost benefits for both customers and the company.

Customer Satisfaction Index (CSI)

Another key area could be the Customer Satisfaction Index (CSI). Use a 1-10 scale to measure customer satisfaction levels and initiate corrective actions accordingly. These are general guidelines that can be further tailored to align with your business and marketing strategies.

Regards,

RDS Yadav