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Restructuring appraisals in 2021 – Gratitude, Purpose & Meritocracy

Restructuring appraisals in 2021 – Gratitude, Purpose & Meritocracy

By Sunil Deshmukh
Calendar

May 11 th 2021

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While 2021 ushered in with hopes of a better tomorrow, the ongoing second wave has hit us with greater ferocity. In an environment of challenges and uncertainty, many have lost their jobs, some incurred pay cuts, and businesses have dissolved making it a testing time for India Inc. As we learnt to live in the new normal, people pinned hopes on better financial stability this year as compared to last year. According to Deloitte Touché Tohmatsu India LLP survey, 92% of companies in India will give an increment in 2021 compared to 60% in 2020. While some experts suggest deferring appraisals until the pandemic is over, others strongly recommend giving a raise to their employees.

As we recover from a global health crisis, the appraisal program this year will have to take some salient points into consideration to ensure that it is fair. As leaders are embracing and learning the workings of the new normal, here are important things that the senior management should keep in mind while restructuring their appraisal program.

Revamping the Parameters

What metrics does your organization use to determine employee increments? At this time of crisis, as everyone is trying to wade through troubled waters, a generic performance management system to gauge all employees similarly will be unfair. For example, with work from home becoming the new normal, our schedules have been tweaked to accommodate different needs. Hence, HR managers should look at revamping the existing system to accommodate individual goals with a holistic perspective and then decide on realistic goals for an employee to achieve.

Cutting the bias

 Across the board, women have opted to work from home to support their children, most of whom are also managing virtual schooling and in support of their domestic fronts. While it has not affected their productivity, it may lead one to harbour biases towards employees who are physically present in the office while doing the appraisals. During the pandemic as remote working has been the primary choice, the challenges faced by those who worked from home were cut off. In these changing times, it is imperative that we reward quality work and not let prejudices manage our systems.

Rethinking the process

The process of performance analysis takes various steps into consideration to measure an employee’s productivity. With remote working being the norm, the evaluation process should be cut short to what has been achieved and the goals for future. 

Sewn well with the hybrid workplace

As hybrid workplace culture is rapidly gaining pace, leaders have started to work on company policies to ensure all opportunities and challenges that are part of this change are being addressed. In this scenario, employees may come to the office for a few days and work from home for rest. Policies should be tailor-made to ensure employee productivity while increasing engagement levels. For example, measuring productivity on the basis of work finished at the end of the week versus work completed daily. 

Gratitude, purpose & meritocracy

As organizations balance between productivity and security of employees, the meritocracy of employees should not be compromised. These unprecedented times call for gratitude, gratitude for the path, those leading the path, those walking the path, and for where it is leading us. Alignment towards a purpose and the resolve to work towards a common end- goal is called for.  

A customized performance management not only ensures that appraisals are not inequitable but they also ensure individualized and realistic goal setting as we recover from the pandemic. Compensation should be given keeping in mind the morale of employees while keeping company’s future turnover in mind. As the HR department revisits the approach, it must be innovative and resilient, with a purpose to take everyone forward in the journey. After all, a journey of a thousand miles begins with a single step and the best is yet to come.

The world has quickly taught us how closely (corporate) prosperity is intertwined with (employee) health and safety. 

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Category

  • All
  • Boardrooms
  • BOARDROOMS
  • Independent Directors
  • Role of Board
  • Mindset Shifts of Boards
  • Independent Directors and Promoters
  • Sustainability / ESG
  • business implication
  • employee exits
  • COMMITTEE MEETINGS
  • Union Budget
  • Independent Director
  • Grow with Governance
  • Grow with Governance
  • INDEPENDENT DIRECTOR
  • Entrepreneurial Board
  • ESG & ITS IMPORTANCE
  • leadership coaching
  • Change Management
  • Advisory Boards
  • Boards
  • Boardroom
  • Brand Yourself as a Leader of the Company
  • Kindness
  • Are you hesitant to speak in the Boardroom!
  • Governance & ESG
  • Directors
  • Independent Directors
  • Corporate Governance
  • Leader development
  • Gratitude, Purpose
  • decision making
  • Systematic Investment Plans in Emotional Intelligence
  • Corporate Governance
  • The Board’s Role in ESG!
  • Balance Boards
  • Agility and Compassion
  • Governance and Board
  • Diversity and Inclusion
  • Directors,Promoter Directors
  • Board Members, Directors and Independent Directors
  • Board and Senior Management
  • New Directors
  • Cyber Insurance
  • Salary Increment
  • Economy Growth
  • Human Resources
  • Generating Wealth Beyond Money
  • Agile Mindset for Leadership
  • Aspiring Independent Directors
  • Board Leadership
  • Corporate Governance & Women on Boards
  • BOARD MEMBER
  • SME
  • WOMEN DIRECTOR
  • BOARD MEMBERS

Archive

  • 2021
    • April (3)
      • Will you drive your vehicle without a dashboard?
      • Are you making SIPs to improve your Emotional Intelligence
      • Corporate Governance needs a Moral Compass – Ethics in Indian Boardrooms!
    • August (9)
      • Grow with Governance: ESG is the umbrella for CSR, says Vedanta's Roma Balwani
      • Grow with Governance: PadUp Ventures' Rajat Jain Demystifies Correlation of Governance and Economic Growth
      • Grow with Governance: Family governance impacts the culture of a family-run business, says Equations Advisors' Mita Dixit
      • Entrepreneurial Board
      • NEW REGULATORY PROVISIONS RELATED TO INDEPENDENT DIRECTORS
      • ESG & ITS IMPORTANCE FROM THE POINT OF VIEW OF BOARD MEETING
      • Start early, don't wait till retirement to become an Independent Director, says Increate Value Advisors' Milind Sarwate
      • The winding road of leadership coaching in the post-pandemic era
      • Challenges of Organizational Culture Change
    • February (4)
      • Re-examination of Purpose by the Boards in Post -Pandemic Era
      • What Makes Great Boards Great! Performance Evaluation by Boards and Role of Independent Directors
      • Promoter Director – Time to become Custodian of Governance!
      • Diversity and Inclusion – The Board Perspective!
    • January (2)
      • New Directors - Have you done your due diligence
      • Cyber Security Insurance and Boards
    • July (7)
      • Why Advisory Boards Are Important for Indian Business Corporates?
      • Grow with Governance: ESG essential to repair the damage economic activities caused to the earth, says CA Shailesh Haribhakti
      • Top 10 areas to contribute in Boards as Independent Directors
      • Top 10 Questions to Ask in Boardrooms!
      • Essential HOWs of Boardroom!
      • Kindness is key
      • How to Brand Yourself as a Leader of the Company?
    • June (6)
      • Leading from the Boardroom
      • Are you hesitant to speak in the Boardroom!
      • The Neem Project a Leadership case study
      • Directors Liability in India
      • Why do promoters need Independent Directors?
      • Corporate Governance Deviation – Infosys Case Study
    • March (4)
      • Board Refreshment: Finding the Right Balance for your Board!
      • HR Governance and Board – How Important Is It?
      • Agility and Compassion: Two Pillars for Boards in the Post Pandemic Era!
      • Modernizing Governance: The Board’s Role in ESG!
    • May (3)
      • Restructuring appraisals in 2021 – Gratitude, Purpose & Meritocracy
      • How do you make your personal Brand?
      • Leadership Coaching: How does it help Leaders
    • October (2)
      • Are Independent Director’s required on the Board?
      • 'Ethics & Governance' lesson should start from school, says Federal Bank's Independent Director, Sankarshan Basu
    • September (3)
      • Grow with Governance: As an Independent Director ensure your voice is heard, says Apurva Purohit
      • Grow with Governance: Push for ESG agenda; pool CSR funds to maximise impact, says Ranganath NK, former MD of Grundfos Pumps
      • Grow with Governance: Boards should prepare companies for different risks, says National Insurance Academy's G Srinivasan
  • 2020
    • August (4)
      • WOMEN DIRECTOR-An Emerge
      • ARE YOUR BOARD MEMBERS SAVVY WITH FINANCIAL TERMS AND EXCEL IN FINANCIAL LITERACY QUOTIENT AS PER COMPANIES ACT 2013 MANDATES.
      • BOARD MEMBER SELECTION- A TASK OF PERFECTION
      • SME IPO – AN OPPORTUNITY TO CAPITALIZE YOUR BUSINESS
    • December (3)
      • Good or bad, Salary Increments always cause a heartburn among employees
      • Is Economic Progress Enough?
      • Emotional Intelligence
    • November (3)
      • Generating Wealth Beyond Money
      • "Agile Mindset for Leadership"
      • Tips for Aspiring Independent Directors
    • September (3)
      • Independent Director
      • Lean Thinking Boards
      • Corporate Governance & Women on Boards
  • 2022
    • August (1)
      • Liability of Independent Directors – An Important Aspect of Corporate Governance
    • February (4)
      • A Hero's Farewell: How to handle employee exits with dignity
      • Green Bonds: An Instrument for Financing a Sustainable Future
      • Tool for effectiveness of Board Committees - Ask Right Questions
      • Russia-Ukraine war and India’s Business Implication
    • July (2)
      • Stagnation or Evolution – Mindset Shifts of Boards when Company sees Stagnated Growth
      • Risk Assessment and Minimization Procedures – Role of Board
    • March (2)
      • A study on Sustainability Report of Container Shipping Companies.
      • India and The ESG impact of Crypto Currencies
    • May (1)
      • Independent Directors liability under GST
    • November (1)
      • Workplace Sexual Harassment and the Role of Board
    • October (2)
      • How many Boards are too many?
      • Women in Indian Boardrooms Vs Diversity = Inversely Proportionate
    • September (2)
      • Organizing for the Future – Important keys to becoming future ready
      • Are you ready to serve on the Board?