Key Executives Performance Management Services
Managing Performance of key executives is a challenging task for many family businesses and mid-size corporates, as the required knowledge base about the industry, linkage with the external practices, target monitoring, actions and outcomes may not be fully available. Also the performance tracking is a sensitive subject as the concerned key executive may have grown in the system and hence carries a reputation for himself / herself. However, in a dynamic organization set-up, the performance management has to be delinked from personal preferences / longevity in the organization.
So as to bring in the twin objectives of business and market led performance tracking and un-biased objective assessment, Prajwal introduces Key Executive Performance Management Services.
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Key Features
- For identified positions we will set-up KPIs (5 to 6) and identify the sources of information and method of tracking
- The targets for the identified KPIs will be drawn from the budgets prepared for the year
- One review meeting will be held with the concerned executive every month for 30 minutes
- The organization to share the information on KPIs with our team on a monthly basis by 7th of every month
- Consolidated report to be submitted by 12th of every month for management to take-up reviews
- Quarterly reports will be submitted with comparison to the industry performance (based on publicly available information)
- Annual report will be submitted consolidating the overall performance and a performance rating for the organization to take up rewards, recognitions etc.,
- Facilitate Budgeting, if required by the organization (This will be an additional service)
Requirements from the Clients
- The client has to furnish information from authentic sources. If need be the information will be audited
- Fixing up meetings as per the schedule prepared by the consultant’s team
- Office space when the meetings take place
- Transport for visits to offices in Hyderabad
- Expenses towards out-station travel, local transport and hospitality, if in-person meetings are required.
Professional Fee
For Business Unit Heads / Functional Heads – Rs. 60,000/- per anum
For Middle Management – Rs. 48,000/- per anum
For Junior Management – Rs. 30,000/- per anum
Set-up Cost for each position – Rs. 10,000/- (one-time charges)
In addition, GST is payable at actual.
The contract period is one year and billing will be done on monthly basis.
