EMPLOYEES PARTNERSHIP PLAN
(An Alternate to Performance Appraisal)
EXECUTIVE SUMMARY
Performance Appraisal has been a sore point more or less for all the organizations. It has been criticized all around the world due to its negative and de-motivating effects. Due to these factors we as a project team have come up with an idea of “Employees Partnership Plan” and have de-bunked performance appraisal. The concept of partnership in the company would give the employees a sense of belonging in the firm as their performance would lead to the success of the firm and everyone would be beneficiary. Unlike performance appraisal, Employees Partnership Plan will definitely help in boosting the morale of employees.
Employees Partnership Plan evolves around objectives assigned to the employee and his performance in performing those assigned objectives. The objectives assigned are SMART and mutually agreed between manager and subordinate. The employee is automatically evaluated against his performance in performance of his objectives. The achieved objectives of employees are converted into monetary value at the end of each fiscal year and reserved in a trust under the Board of Directors, having members from all tiers. This benefit would be credited on leaving the company or retirement of the employees.
Basic plan is to train, develop and groom the employees so that they can achieve there objectives in an immaculate manner and prepare themselves for more challenging and demanding assignments and tasks. The Employees would be provided performance feedback through 360 degree feedback so that they can overcome their deficiencies and enhance their capabilities to become even better performers. The company will not have any place for bad performers, however, they would be provided ample opportunity to improve upon their performance and would be provided all assistance through guidance, counselling and coaching. The company will work with flat and high involvement organization; emphasising on intrinsic rewards, team work and quality of work life which will help in retention of talented, skilled and motivated workforce.
Group MembersTabassam Nadeem
Tufail Akhtar Arbab
Hisham Aurangzeb
Umer Irfan
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April 11, 2007 at 4:38 pm
Conducting the Performance Appraisal Meeting
Following a few simple guidelines will help facilitate constructive discussions during the actual appraisal meeting.
1. Put the employee at ease. Begin the meeting with positive general friendly conversation. Describe the purpose of the meeting.
2. Focus the meeting and discussions on objective job-related behaviors. Give constructive feedback.
3. Actively listen to the employee’s feelings regarding his/her performance.
4. Do not argue with the employee. Instead, acknowledge what the employee is saying (for example, “I understand how you must feel”).
5. Ask open-ended questions to stimulate discussion.
6. Close the session on a positive note if at all possible.