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Human being has always been aimed at measuring and improving their performance, in breaking records and in targeting ever higher. For business, this is reflected in performance management. Performance management (PM) includes activities which ensure that targets are being consistently being met in an effective and efficient manner. Performance management can focus on the performance of an entity, a department, employee, or even the processes to build a product of service, as well as many other areas.
Performance management includes more than simply giving an annual review for each employee. It is about working together with that employee to identify strengths and weaknesses in their performance and how to help them be a more productive and effective worker. Step in the process are below.
1. Evaluate your present performance appraisal process. Look at what type of appraisal you are giving to your employees. Determine if there is anything you need to change or add to the evaluation itself. You may decide to build on what you already have or to build a new system altogether.
2. Identify organizational targets. Performance management systems help staff members within the Entity because they help their staff by resolving their problems and align their goal with the entity’s goal so that they get emotionally attached with the entity’s goal and achieved it easily. Take the time to clarify what your targets are for the next year as a company.
3. Set performance expectations. As you sit down with each employee, clearly lay out your expectations for them.
4. Monitor and develop their performance throughout the year. As employees starts to work on their performance, keep surveillance on their work. If they faced any problem for meeting your expectation then resolved it forthwith.
5. Evaluate their performance. At each performance review, let the employee know how they are doing. It is often helpful to assign a numeric value on a scale, rating the employee from "not meeting expectations" to "meets expectations" to "exceed expectations."
6. Set new performance expectations for the next year. Some items may be the same. However, since these are also based on entities targets, you will need to re-examine your targets for the upcoming year.
Rajput Jain & Associates provides help in formulating an effective performance system in the entity, assistance in setting targets for future after taking strength and weakness of the entity in consideration and use activity analysis and performance measurement, together with proven skills in change management, to ensure successful implementation, monitoring the performance of the entity and then finding the areas of weakness.
Rajput Jain and associates is the largest online service platform in India which provides easy solutions in starting their new business at affordable cost. We aim at helping the entrepreneurs at every legal and regulatory step. We stay as your partner during entire business cycle and ensure that the business keeps prospering and remains complaint.
Rajput Jain and associates is a network of experienced chartered accountants, lawyers, company secretaries, cost accountants, financial experts, expert bankers all over India to provide the needed services for small and medium size enterprises.
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Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.
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Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.
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We use Rajput Jain & Associates for all our accounting, Corporation tax, VAT and other compliance needs. The service is professional, courteous and prompt. I would recommend Rajput Jain & Associates to any company requiring a comprehensive accounting and tax service.
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