Various Popular PMS Approaches to Choose

When getting started with PMS (Performance Management System), the most frequently asked questions are how to choose, implement and adopt a suitable PMS. To help our customers we are glad to share various PMS approaches with examples, so that you can get started easily and implement a suitable PMS. Don't worry our Full PMS Services such as Workshops, Coaching, Training and Consulting retainership provide all these artifacts custom developed to help your organization. Moreover, we have made examples for these re-usable PMS artifacts library available inside our software application as well, to make it more convenient to adopt.
For CFRs (Conversations, Feedback and Recognition) we provide guidelines, templates and best practices including inside our Skills2Talent™ Software/Add-on modules, which will make easy to orient, train and institutionalize PMS & CFR. Most popular PMS approaches that are adopted widely across organizations are listed below;

• OKR based PMS: "OKR" (Objectives & Key Results). Objective: Where do we want to go?, Key Result: How do we know if we are getting there? --> Checkout our OKR Stars™ Full OKR Services - OKR Examples page to know further.

• SMART Goal based (MBO-PMS): Goals should be straightforward and state what you want to happen. MBO stands for Management by Objectives. The goal has to be specific and define clearly what you are going to do. Use action words in goal such as direct, coordinate, achieve, complete, deliver, organize, lead, develop, plan, accomplish etc.

     OKR and MBO-PMS Differences →

• Company Core Values Alignment Based: Core values often reflect your organization's ethical standards, culture, or mission statements. Evaluating on core values reinforces the organization beliefs and ensures every employee demonstrates the same standards during the employment.

• Job Specific & Behavioral Competency Based: Competencies in the context of Performance Management System is they are qualities that employees get rated on. Competencies can be mapped to R&R (Roles & Responsibilities) / JD (Job Description) and used as part of their development path (SMART Individual Development Plans).

• Multiple Content Sections Based (with Weightage): Although performance reviews can be planned to include sections specific to organization's needs, the best practice performance review includes four main content sections (A, B, C and D). These contents cover objectives (SMART goal plans), core values (aligning to organization’s vision, mission, and value system), job specific competencies and behavioral competencies (approach/ indicators/ attributes/ components). The organization need to use at least one section or many/all. If any content section has "zero" weightage will be hidden from the performance management form (template) in Skills2Talent™ PMS. Each content section is given a weightage of the overall performance score with a total of 100. These content sections can be different for different group of employees as per the business need (i.e. The percentage can be different based on work groups' business requirements)..

• Exclusively Competency Based (Mapping & Assessment): Competency Mapping is a process of identifying key competencies for an organization and/or a job and incorporating those competencies throughout the various processes (i.e. job evaluation, training, recruitment) of the organization. The mapping process includes defining Role specific Meta (Core) Competencies, Subset competencies (per Meta Competency) and mapping them along with proficiency levels (rating scale). The assessment framework can be designed as per the organization requirement such as employee and manager based competency assessments (Target Vs Actual) and thus identifying skill matrix and gaps. The assessment input can also be collected from peer members, program office and from subject matter experts (in addition to employee & manager's ratings). The Meta competencies can be given Weightages as well to differentiate must to have/optional/common competencies along with provision of evidence/references (soft copy attachments). A focussed competency based assessment helps matured organizations to address the major pain points systematically (Ref: People CMM Ver 2.0) that impact the PMS (Performance Management System) through data intelligence for decision makers and link with Learning & Development initiatives.

• Questionnaire Based: Similar to performance conversation-based assessments, the questionnaire based assessment helps to approach differently but in a meaningful and structured manner. The questionnaire can be planned to have a comprehensive scope/purpose such as, about job, work output, role, stretch goals, agility, culture fit, feedback based, employee satisfaction, aspiration, soft skills, leadership capabilities and personality etc. To have 360° views for unbiased information, the same questionnaire can be re-framed to collect feedback from the selective target people such as matrix managers, program office, peers, cross functional team, or internal/external customers. For prioritized questionnaire, the weightage can be associated category wise and to make balanced assessment along with provision of evidence/references (soft copy attachments).