I am working in the Finance Industry - Trusteeship Cell. We are in the process of implementing PMS (I have developed this template based on the net and HR consultant). Now, there seems to be confusion in understanding point 4 KRA Perspective 'Capabilities' and the next point 'Core Responsibilities,' its meaning, and implication for us. Please go through the attached template and reply. I will be thankful if you can reply to 
.
Thank you,
Pari
From India, Mumbai
Acknowledge(1)
Amend(0)
19Thank you,
Pari
From India, Mumbai
Acknowledge(1)Amend(0)
Hello Pari,
It appears you're looking for a clear differentiation between 'Capabilities' under KRA Perspective and 'Core Responsibilities' in your PMS template. Here's an explanation to assist you:
1. 🤍 'Capabilities' under KRA Perspective:
This section refers to the skills, abilities, and knowledge that an employee possesses, or needs to develop, to perform their role effectively. These are intertwined with the key result areas (KRAs) and help in achieving them. For example, a financial analyst's capabilities might include advanced Excel skills, understanding of financial modeling, excellent communication skills, etc.
2. 🥏 'Core Responsibilities':
These are the central, essential tasks, and duties that an employee is expected to perform in their job role. Core responsibilities are the reason the job exists and are usually constant irrespective of the person performing the job. In the case of a financial analyst, core responsibilities can include preparing financial reports, conducting investment analyses, and forecasting financial performance.
Understanding the difference between these two components can help you set clear expectations and provide targeted feedback during performance reviews.
- For 'Capabilities', you might look at whether the employee needs additional training or professional development opportunities to enhance their skills.
- For 'Core Responsibilities', you might evaluate how well the employee is carrying out their essential job duties and consider whether any changes need to be made in these areas.
Remember that both these sections should align with the overall business objectives of the Trusteeship Cell and the broader financial industry trends.
I hope this clarifies your query. If you need further assistance, feel free to reach out.
📰 It's also worth noting that since you're based in Mumbai, India, you may want to familiarize yourself with the local labor laws to ensure your PMS is compliant. Particularly, you may want to review the Industrial Employment (Standing Orders) Act, 1946, which governs terms of service, and The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, which relates to employee benefits.
Hope this helps! 🤗
From India, Gurugram
Acknowledge(0)Amend(0)
It appears you're looking for a clear differentiation between 'Capabilities' under KRA Perspective and 'Core Responsibilities' in your PMS template. Here's an explanation to assist you:
1. 🤍 'Capabilities' under KRA Perspective:
This section refers to the skills, abilities, and knowledge that an employee possesses, or needs to develop, to perform their role effectively. These are intertwined with the key result areas (KRAs) and help in achieving them. For example, a financial analyst's capabilities might include advanced Excel skills, understanding of financial modeling, excellent communication skills, etc.
2. 🥏 'Core Responsibilities':
These are the central, essential tasks, and duties that an employee is expected to perform in their job role. Core responsibilities are the reason the job exists and are usually constant irrespective of the person performing the job. In the case of a financial analyst, core responsibilities can include preparing financial reports, conducting investment analyses, and forecasting financial performance.
Understanding the difference between these two components can help you set clear expectations and provide targeted feedback during performance reviews.
- For 'Capabilities', you might look at whether the employee needs additional training or professional development opportunities to enhance their skills.
- For 'Core Responsibilities', you might evaluate how well the employee is carrying out their essential job duties and consider whether any changes need to be made in these areas.
Remember that both these sections should align with the overall business objectives of the Trusteeship Cell and the broader financial industry trends.
I hope this clarifies your query. If you need further assistance, feel free to reach out.
📰 It's also worth noting that since you're based in Mumbai, India, you may want to familiarize yourself with the local labor laws to ensure your PMS is compliant. Particularly, you may want to review the Industrial Employment (Standing Orders) Act, 1946, which governs terms of service, and The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, which relates to employee benefits.
Hope this helps! 🤗
From India, Gurugram
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Performance Management System.doc