Performance Appraisal

At a time when the trend towards globalization is flourishing, recruiting and training new employees become tedious process. This it is essential to inspire the staff members through the right blend of strategic planning, direction, resources and incentives so that they’re keen to drudge together.
Farsight’s Tool is a powerful means to recognize key employees and empower the employers to check automatically generated records and praise employees for good performance as decisive and make them shine bright within the organization.
Every gesture of employer determines the employee’s willingness and desire to work. A day of appreciation, a small gesture of thanks giving, or a smile for work well done can enthuse the employee to a great extent. Farsight’s performance evaluation and appraisal module helps in identifying key employees with the help of bell charts analytics. This promotes healthy competition within the team to thrive to work better and grab the opportunity for appraisal.

Establish Performance Standards

The process of performance appraisal begins with establishing well determined standard outputs for the employees that prove beneficial for the Company. These standards should have evolved out of job analysis of assigned task and relative job profiles.
Farsight’s Performance Appraisal module sets clear and objective for the employees that scale measurable results. The module set the job priority, estimated time to accomplish the job and evaluation chart to rate the employee’s output.
The parameters set by Farsight’s tool are realistic and self-motivating to ensure optimal employee engagement. It automatically generates comprehensive reports that offer complete reference for the executives to study company’s progress and measure the rate of output per work head.

Communicate Standard Performance Expectation to Employee

Once the performance expectation standards are set, it needs to be effectively communicated to the employees to make them understand their roles and responsibilities.
The foremost objective of the leaders should be efficiently share the performance expectations with each of their team members and ensure that they understand the benchmarks set before them. With Farsight’s HCM engine, the tedious task of commuting documents can be eased.
The HCM Engine automatically sends E-Mail notifications to the employees at the time of on-boarding that has a detailed summary of the workplace, work culture, disciplinary standards and the work expected out of them
The tool also fetches regular feedbacks from the employees to check whether the employee is comfortably working in the environment is facing any issues regarding the workload or standards set before them.
Farsight’s tool proves to be extremely helpful in generating reports that help to view the progress, pit falls and feedback together. This helps the managers to analyze the week areas that need to be worked on.

Measure Actual Performance

Employee’s actual performance is measured during and after accomplishment of assigned task. The manager gathers information by monitoring the progress through various sources such as personal observation, statistical reports, oral reports, and written reports.
With Farsight’s module the HR Team can adopt various methodologies for different departments in order to measurable results of each department. It requires a watchful selection of methods to monitor employee’s activities without hampering the employees’ output.
The HR managers with the HOD critically evaluate the process and contribution of each employee. The reports generated by the module showcase easy to understand performance outcome of different departments.

Compare Actual Performance with Standards

When the HODs and HR Team has monitored and documented employee’s performance, then the actual performance is compared with the predetermined standards by the company. This analysis gives a clear picture of deviation of standard expectations and actual output of employees.
If the deviation is negative, i.e. the employee falls short to fulfill company’s requirements; they are advised to opt for corrective measure like a training sessions, counseling or motivation by the Team leaders.
If the evaluation and analysis provides positive deviation from the standards on regular basis, then the employee is bound to appraisal and recognition.

Discuss the Appraisal with the Employee

Once the HR Team recognizes the key employees who have proved to showcase exception output, an automatic E-Mail notification is sent to them that call for discussion of appraisal with due consent of HR managers and executives.
Farsight’s module ensures that discussion on appraisal enables employees to know their strengths and weaknesses which in turn help them evaluate themselves and work to concentrate on week areas as well.
The meeting is carried out in a manner that infuses a sense of belongingness for the company and motivates them to work even harder to achieve the goals.
Once the employee and HR Team agree on the appraisal of designation and salary, the tool automatically updates the records in the database of the company.

Initiate Corrective Actions

Once the designation of the employee is upgraded, the responsibilities also increase. Thus training, coaching, counseling etc. are the corrective actions that managers initiate to improve the employee performance after analytics.
Farsight’s Module processes the performance appraisal under the following steps:

  • Appraisal Cycle Setup
    • Master KRA, KPI Definition
    • KRA, KPI Template Definition & Mapping
    • Review Hierarchy Setup
  • Goal Setting
    • Self-Goal/ KRA Setting by Employees using self-service portal
    • KRA Approval by Approver
    • KRA Approval by HRBP
  • Appraisal
    • Self-Appraisal by Employees using self-service portal
    • Appraisal by Manager
    • Appraisal by HRBP

Advantages of Opting for Farsight’s Evaluation and Awarding Module:

  • Derive satisfactory business outcomes: Motivating and awarding employees tend to increased business outcomes and satisfactory performance as a team.
  • Inbuilt a Sense of Responsibility: Use employee recognition to makes employees answerable for their day to day deeds.
  • Inspire to Aspire: the employees must be trained and inspired to aspire for the betterment and development of the organization.
  • Retaining key employees: Retention of key employees is crucial in any organization. This can be done rewarding those employees, taking into consideration their appraisal reports, working strategies etc.

Thus opting for Farsight’s Evaluation and Awarding Module helps you to integrate employee’s contribution with company’s goals and recognize the assets of the organization.

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