The goal is to identify and retain top performers while at the same time streamlining the entire performance-appraisal process so that it is more automated and integrated with other talent functions. Despite these challenges, HR executives already have amassed a number of best practices relating to the execution of effective performance management solutions within their companies.
Turn your organization into rich talent pool , Make corporate culture from a best effort to a results-driven culture that is constructive, Goal focused , helpful, and collaborative rather than judgmental, punitive, and destructive. This will help you turn into organization into world class leadership practice rather just a normal review practice i.e., help you use performance management to make a real difference in enhancing performance, building talent, and driving the business forward.
Alchemus Performance management is a comprehensive solution that caters to the entire employee Performance Management lifecycle in a seamless process. It sets the platform for rewarding excellence by aligning individual employee accomplishments with the organization’s mission and objectives and making the employee and the organization understand the importance of a specific job in realizing outcomes.
Rejuvenate Your Performance Review Feedback Process to Boost Employee Engagement
Alchemus Core Features Include
- Performance Planning – provides information on establishing performance expectations and goals for employees to channel their efforts towards achieving organizational goals and objectives.
- Monitoring Employee Performance – provides information on the requirements to conduct at least one formal written progress review for all employees.
- Evaluating Employee Performance – provides information on evaluating employee performance against the elements and standards in an employee’s performance plan and assigning a summary rating of record.
- Employee Development – provides information on the importance of evaluating and addressing employee development to increase the effectiveness of an organization.
- Recognition – provides information on a large variety of informal and formal recognition programs, which can be used to recognize and reward employee excellence.
Alchemus modular approach helps company to scale and maintain rich talent pool and change organization culture to results-driven which is constructive, goal focused, helpful, and collaborative.Our aim is to help you turn your normal performance review practice into a world class leadership practice
Flexible Organization Structure
Alchemus Performance Management can help you build project based organization using. Our solution seamless integration to various Human Resource and Project Management software’s help you import project data effortlessly. Using our solution, you can define matrix reporting relationship, which are common in today’s competitive world.
Our solution offers you flexible option to define project based appraisal process, thereby providing year round appraisal and feedback mechanism that is not time based. Alchemus PCMS solution helps you define organizational hierarchy so that you can get group company analysis for meaningful data comparison.
Our solution helps you to define Competency and Role templates for the organization or a part of organization. This helps in uniform application of role based goal templates.
The project based infrastructure helps you to generate project based statistics which gives valuable insight for employee growth and development.
Uniform Goal Management
Goal Setting and Objective Alignment helps your organization achieve its strategic plan. You can use single or multi dimensional scorecards (including the Balanced Scorecard)depending on the sophistication of your managers and employees. Staff goal setting can be established by using a scorecard framework.. Our solution allows you to define Role based templates for goals and competencies for the organization as a whole or parts of organization such as department or a business unit. The process is flexible to create industry based templates.
Alchemus allows you to conduct cascaded Goal Setting for KPI’s or Objectives. This enables your managers to Align employees to the goals, objectives orKPI’s your organisation needs to achieve. Managers have instant reporting and clear Line of Site of their entire teams Objectives.
Employees generally require more feedback and more frequently than can be provided in an annual appraisal. Our mid-term review process provides the flexibility to have mid-term review during the entire appraisal year thereby providing valuable feedback to the employees.
Employees should participate with their supervisors in the creation of their own performance goals and . A plan wherein the employee feels some degree of ownership is more likely to be accepted than one that is imposed. Our solution is flexible to allow employees to create their goals with their supervisor’s accepting the goals. For organizations used to supervisors setting the goals for their subordinates, the software has an option to configure it to suit this requirement.
Achieving results is the focus of all organizations. Finding the right person at the right time is the key for achieving results. Knowing the employee competency and mapping them to various levels and roles in an organization is just the beginning of the process. The real challenge is in evolving the map with changing needs of the organization and learning the patterns of the employees.
Would it not be great to know:
- Who are your best performers?
- Who has the greatest potential?
- Who are the employees who have both these attributes?
- Who are the successors in case you have both these attributes?
Alchemus performance management solution helps you map the organization and identify the winners. This solution helps you to determine the competency gap, which you can use to define development and learning Plans.
Alchemus Competency Management is ideally suited to organizations that are required to determine levels of technical or behavioural competencies. Competency focused performance management systems can serve as a useful tool for helping the employees in understanding the performance expectations and improving the competencies. Competency based management are strategic in nature and influences almost every area of human capital management which starts with the hiring of an employee and ends with the retirement. It aims at standardizing and integrating all HR activities by relying upon competencies which support fulfillment of organizational goals via gap via Learning & Development activities (classroom and online) or re-certification as required.
For organization who use performance scorecard methodology and want to align Balanced Scorecard objectives with every single employee. Alchemus Performance enables organizations to clearly link strategic and operational goals with individual employee KPI’s. Performance Management principles can then be applied to any combination of Balanced Scorecard perspectives including financial, employee, process or customer objectives.
The problem with most strategic scorecard initiatives is that they break one to two levels below the business leader through a lack of management execution or employee engagement. Alchemus Performance Management improves communication and goal setting by providing non standard perspectives as well.
Incentive & Rewards
Research has shown that employees seem to have greater acceptance of the appraisal process when the process is directly related to incentives. However, there are those for instance who do not support any attempt to link the process to incentive programs and outcomes.
Our solution has a module which helps you create various scenarios for wage increase depending on salary bands and performance ratings. You can use the solution to generate various what-if analysis charts for decision making. Our solution enables you to automate time intensive tasks and gain improved visibility of the remuneration process. Manage base salary increments, bonuses, short term incentives and more; place emphasis on pay for performance, drive business outcomes and eliminate spreadsheets with a fully automated, system Our PCMS solution has also inbuilt rules to define special rewards and schemes for specific individuals or group of individuals.
Our Incentive module is a add on module which can be configured as per the organization incentive programs prevailing in certain verticals.
Integrated Succession Planning
Organizations today realize the importance of identifying and developing their future leaders. This practice, which should be done on an on-going basis and at all levels of the organization, provides the foundation for effective succession planning. Our solution helps you identify potential succession gaps and assists in planning future staffing needs within your organization.
Alchemus succession planning tool helps provides insight into your leaders’ natural behaviors and styles; how they build relationships, make decisions, appraise risk and view change. This information provides a road map to their leadership development plan, specifically tailored to the individual, and enables them to make a more successful transition to the next level.
Business Analytical Reports
The Alchemus Performance Reporting Suite includes different reports that help you set data-driven goals and track the right metrics. It allows you to assess performance at multiple levels – the projects, specific groups, business units and individual and so on.
Every section provides a high level summary and allows you to drill down into specific time periods, data points and comparisons, so you have the information you need to make critical business decision.
Benefits of Alchemus PCMS
Multi-rater Feedback helps to improve the consistency of ratings and Employee Quality Feedback’s.
Helps to make performance decisions based upon real-time data.
Helps to optimize the productivity, efficiency and quality of your people.
Allows you to identify and address critical skill gaps and talent requirements at an organizational level to develop learning and development plans.
Helps to Improve collaboration , communication and transparency.
Improves employee job morale and employee retention.
Helps to analyze using key indicators to Increase Productivity and Profitability.