Dear All,
I am working in a broking firm and I am asked to create a master KRA which would include Functional details of all Departments. In order to compile the same, I need to list goal settings of each designation.
Can anybody guide me for the same? What I think I need to list down is: :idea:
Goal settings of marketing personnel
Goal settings of back office and front office personnel
Goal settings of trading personnel (Dealer)
But I am not sure how and what? Could any of you please give me some understanding of the same and guide me further? :?:
Thanks.
From India, Ahmadabad
3I am working in a broking firm and I am asked to create a master KRA which would include Functional details of all Departments. In order to compile the same, I need to list goal settings of each designation.
Can anybody guide me for the same? What I think I need to list down is: :idea:
Goal settings of marketing personnel
Goal settings of back office and front office personnel
Goal settings of trading personnel (Dealer)
But I am not sure how and what? Could any of you please give me some understanding of the same and guide me further? :?:
Thanks.
From India, Ahmadabad
Each position in an organisation, has certain Critical success Factors( CSF) . You could start the process with CSF involved for each job, leading you to arrive at Key Resilt Areas(KRAs) of the Job.This could lead you to Key activities for each and every position. You could do this in excell format which will give you clear picture for each position.
You will have to involve the concerned Job holders and their respective seniors/Dept. Heads. This has to be an organisation wide activity for which the top Management has to be with you.
Praful
You will have to involve the concerned Job holders and their respective seniors/Dept. Heads. This has to be an organisation wide activity for which the top Management has to be with you.
Praful
see...
In KRA there are 4 prospective which genrally can be used in all ept. i.e.
Financial
Customer Orientation
Operational Excellance
Learning & Growth.
these are 4 prctive. you jst creat a format mentioning the above 4 points and circulate it among the your employee. and get it filled by them. i m attaching the format for your reference. pls go through it , it ios easy to help you.
Cheers..!!
Prash..!!
AreasSl NoAction/GoalsTargetMeasurementTimeline% WeightageFinancial1Minimize recruitment cost 1023Sub Weightage (A)10Customer
Orientation1Reduce recuritment cycle - outsorced labors 10Days202Reduce recruitment cycle - Technician 18Days103Reduce recruitment cycle - Supervisor45Days204Reduce recruitment cycle - Management levels 75Days205Meet recruitment target 90%6Sub Weightage (B)70Operational
Excellance1Jod description 100%52recruitment system documentation 100%53Sub Weightage(C )10Learning &
Growth1Key positions in succession planningNA%1023Sub Weightage (D)10Total Weightage & Difficulty = (A)+(B)+(C )+(D)100
In KRA there are 4 prospective which genrally can be used in all ept. i.e.
Financial
Customer Orientation
Operational Excellance
Learning & Growth.
these are 4 prctive. you jst creat a format mentioning the above 4 points and circulate it among the your employee. and get it filled by them. i m attaching the format for your reference. pls go through it , it ios easy to help you.
Cheers..!!
Prash..!!
AreasSl NoAction/GoalsTargetMeasurementTimeline% WeightageFinancial1Minimize recruitment cost 1023Sub Weightage (A)10Customer
Orientation1Reduce recuritment cycle - outsorced labors 10Days202Reduce recruitment cycle - Technician 18Days103Reduce recruitment cycle - Supervisor45Days204Reduce recruitment cycle - Management levels 75Days205Meet recruitment target 90%6Sub Weightage (B)70Operational
Excellance1Jod description 100%52recruitment system documentation 100%53Sub Weightage(C )10Learning &
Growth1Key positions in succession planningNA%1023Sub Weightage (D)10Total Weightage & Difficulty = (A)+(B)+(C )+(D)100
Thanks for your inputs Praful.
I am given the responsibility to gather the necessary information/details and do the assignment. I would not be able to involve Management but yes, I can gather information/job descriptions/tasks from the Executives and Office staff we have here. I was thinking of getting it done for the branch where I work and then probably I could get it circulated or approved for other branches as well.
Do you think this would work?
From India, Ahmadabad
I am given the responsibility to gather the necessary information/details and do the assignment. I would not be able to involve Management but yes, I can gather information/job descriptions/tasks from the Executives and Office staff we have here. I was thinking of getting it done for the branch where I work and then probably I could get it circulated or approved for other branches as well.
Do you think this would work?
From India, Ahmadabad
Gentleman,
You must use SMART tools for preparing KRA's :
S - SPECIFIC
M- MEASURABLE
A- ATTAINABLE
R- REALISTIC
T- TANGIBLE/TIMELY
Hope after applying this tool, you can easily define KRA's.
O.P.SINGH
From India, Mumbai
You must use SMART tools for preparing KRA's :
S - SPECIFIC
M- MEASURABLE
A- ATTAINABLE
R- REALISTIC
T- TANGIBLE/TIMELY
Hope after applying this tool, you can easily define KRA's.
O.P.SINGH
From India, Mumbai
Dear Praptim,
Balanced score card is the right technique for you. But you have put your top team at one place for this. The process can be something like this:
1. Ask the top team to put its mind togeather and prepare the Balance score card for the CEO. It should encompass the Financial, Customer, process and capability perspectives.
2. Each KRA will be linked to a critical / strategic objective, is amenable for measurement and can be broken down into actionable activities.
3. All such KRAs are numbered.
4. Subsequently, in the same meeting, these KRA are distributed among the functional Directors / VPs, in such a way that each would get a mutually exclusive domain for full responsibility. Common responsibilities can appear in more than one VP's score card.
5. Finally NO residual KRAs should remain in CEOs score card, which is not delegated / assigned to other directors.
6. Exceptional items of administrative powers / leadership responsibilities would rest with CEO.
7. Based on the KRAs received from CEO's BSC, each functional director would prepare his own BSC.
Involvement of each functional director in this exercise should be mandatory, as each would agree to his BSC measures after a protracted collective negotiation process. Without this collective negotiation process, no body would own up the KRA. In the end you will not be able to blame anybody.
You can also link compensation packages to achievement of KRA at the end of each monthly / half-year etc.
I am enclosing a model for your information.
From India, Changanacheri
Balanced score card is the right technique for you. But you have put your top team at one place for this. The process can be something like this:
1. Ask the top team to put its mind togeather and prepare the Balance score card for the CEO. It should encompass the Financial, Customer, process and capability perspectives.
2. Each KRA will be linked to a critical / strategic objective, is amenable for measurement and can be broken down into actionable activities.
3. All such KRAs are numbered.
4. Subsequently, in the same meeting, these KRA are distributed among the functional Directors / VPs, in such a way that each would get a mutually exclusive domain for full responsibility. Common responsibilities can appear in more than one VP's score card.
5. Finally NO residual KRAs should remain in CEOs score card, which is not delegated / assigned to other directors.
6. Exceptional items of administrative powers / leadership responsibilities would rest with CEO.
7. Based on the KRAs received from CEO's BSC, each functional director would prepare his own BSC.
Involvement of each functional director in this exercise should be mandatory, as each would agree to his BSC measures after a protracted collective negotiation process. Without this collective negotiation process, no body would own up the KRA. In the end you will not be able to blame anybody.
You can also link compensation packages to achievement of KRA at the end of each monthly / half-year etc.
I am enclosing a model for your information.
From India, Changanacheri
Dear Pratim,
Key Result Area defines the ethos of the firm. Go to the your boss of all bosses and ask what is his/her vision for the firm in the next 1/3/5 years. Now go to the Responsibilities and Charter of Duties (or info on similar heads) of each of the department/section and tailormake the focus for the firm/department/section. I take it that you are representing the entire firm, now you have to guide and encourage the departmental heads and section heads to do the same. Obviously, you are the co-ordinator to ensure that all these section/departmental and finally the entire firm's KRAs converge and make the path for the realisation of the Vision or Dream of the Big Big Boss.
Key Result Area defines the ethos of the firm. Go to the your boss of all bosses and ask what is his/her vision for the firm in the next 1/3/5 years. Now go to the Responsibilities and Charter of Duties (or info on similar heads) of each of the department/section and tailormake the focus for the firm/department/section. I take it that you are representing the entire firm, now you have to guide and encourage the departmental heads and section heads to do the same. Obviously, you are the co-ordinator to ensure that all these section/departmental and finally the entire firm's KRAs converge and make the path for the realisation of the Vision or Dream of the Big Big Boss.
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Goal setting -KRA.ppt
Goal-setting-gu ide_141.pdf
Kra format.doc