Effective Use of KPIs in Awards Scorecard

Finalizing KPIs for 'Awards Scorecard' involves designing performance measure to assess performance'. The objective is to ensure that only the right candidate gets awarded and that the legacy of excellent performance is carried on, year by year.

KPIs provide an appropriate framework to judge the performance of employees on different tasks and responsibilities handled by them. KPIs in Award Scorecard can be formally placed under 4 major perspectives- performance based, quality and attitude based, loyalty based and responsibility based. Performance based perspective incorporates KPIs such as % increase in individual output, adherence to schedule, etc. Quality and attitude based perspective on the other hand incorporates KPIs on the basis of quality aspect of operations. It includes KPIs such as number of quality complaints, complaints reported by the colleagues, etc. Loyalty based perspectives consists of KPIs in the form of time of service, number of referrals provided, and other such KPIs. Lastly Responsibility based perspective takes into KPIs like team conflict management initiatives, number of failure analysis activities handled, etc.

It goes without saying that hurdles are sure to crop up in this area. Lack of understanding, either of the operations specific to the organization or the mundane industrial workings can lead to setting of fake standards. This diverts the whole path. So, superficial study of the aspects related to processing should be avoided and a good grasp has to be kept on the methods and procedures involved. At times, the departments in the organization may also be the cause for being in the wrong direction. The people may misrepresent issues to have more resources allotted to them, both monetary and non-monetary. This calls for analysis of the situations on own and relying less on the employees, in this sense.

The place held by a good rewarding process can neither be neglected nor dwarfed. This is because when it is about knowing 'who contributed' and 'who did not' to the organizational progress, the issue concerns not only the current rewarding system, but also works in setting role models for future reference. People tend to follow the ones who have been praised in prior times; and with setting wrong examples, the organization is definitely going to pay heavily in the long run. KPIs come into picture at this instance. This is to say that not only the price being borne in the present scenario is at stake but also the future treading is at risk. By structuring appropriate indicators to gauge the movements in the light of benefits and costs, an exact reflection of which step proved beneficial and which caused the team to bear costs can be obtained.

KPIs can actually save one from getting muddled up with the measures, when it comes to spotting the parameters on which to appraise and present laurels to employees. With a tailored scorecard in hand, the managers can be assured of their efforts being put in the whole exercise not going futile. When this act is done with transparency, it lays the foundation of hard-working and rewarding culture. This in turn, leads to immediate marching forward of the managerial team and sets the stage for organization to move by leaps and bounds.