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[Pages:6]Know about

KRA

(Key Result Areas) Series....

Know About KRA

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WHAT IS KRA?

KRAs or Key Result Areas are the mail objectives for which you perform your task or role in the organization. It is generally the purpose of your role and not a list of your daily activities on the job and has a border perspective of performance with standards of achievements.

KRAs capture about 80% to 90% of a work role. The remainder of the role is usually devoted to areas of shared activities. (E.g. helping team members, participating in the activities for the good of the organization)

Once KRA has been decided and agreed upon with your supervisor it gives you the following advantages:

Clarity on expectation from the job. To improve focus and hence Performance. Helps develop Skills, Ability and Knowledge. Provide a sense of achievement Helps manage time effectively and balance your life. Helps in performance appraisal discussion and career progression In communicating their roles and purposes to others

HOW TO WRITE A KRA?

The first thing to note is that KRAs are not identical or same as your job description or activity. The table below will help you understand the subtle difference between the two.

KRA

Job Description

1. KRAs are present goals which are for a short 1. It will give the broad description of any job.

period of time.

2. KRA's are activities which are measurable and linked with Performance Appraisals 3. KRAs are changeable after reviews

4. KRAs are written depending on individual ability. For example: KRA will be different for each Sales Executive

2. JD can be used to define the duties and responsibilities of that particular job. 3. JDs are not changeable, until new responsibilities are added 4. JDs are similar for a particular role.

For example: JD of all Sales Executives is same

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The other sealant features of KRAs are : They are goals which should pass the test of being Specific, measurable, achievable, Relevant and time bound (SMART)

One should have about 5 KRAs In a more senior role, KRAs can be in multiple objectives like Financial, Customer, Process, People,

Organization Development, Quantity of Work and Quality of Work and such holistic KRAs are usually called a balanced KRAs, most commonly known as Balanced Score Card.

Hence in Karvy for S10 and above, KRAs is categorized into following 4 sections:

FINANCIAL CUSTOMER

Examines if the company's implementation and execution of its strategy are contributing to the bottom-line improvement of the company

It defines the value proposition that the organization will apply to satisfy customers and thus generate more volumes

PROCESS

It is concerned with the processes that create and deliver the customer value proposition

PEOPLE & ORG It is concerned with learning and development of human capital, information capital, and DEVELOPMENT climate of the enterprise

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 For individual performers KRAs are simpler and categorized into two sections.

1. QUANTITY OF WORK

It defines the volume and the quantum of work e.g. Targets, Volumes, Timelines, Revenues, Sales, Productivity, etc. that were set for him or her at the beginning of the assessment period

2. QUALITY OF WORK

It defines the qualitative part of the function and value that the person brings to the business and organization with respect to costumers, operations process, errors, rejections, complaints, ability to work in teams, Escalations etc.

Some illustrations of KRAs:-

1. Job Title: Sales Executive

Performance Area

Quantity of Work

KRA

Generate revenue through clients Client acquisition Win back or activate old/ inactive clients

Quality of Work

Service the clients who have traded Ensuring zero bad debts/timely cleaning of ledger debits Increase in cash and DP asset collection

Having face to face interactions with clients

Weightage(%)

25% 15% 10%

10% 15% 15%

10%

Expected Result

Main salary productivity of ______ Acquire clients number of clients should start working with Karvy again Resolve client issues within 1 working day Bad debts/ ledger debits should decrease %age of cash collection should increase month on month Number of face to face interactions should go upto ______

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2. Job Title: Sales Manager

Performance Area

KRA Maintain Revenue Profitability

Financial

Ensuring Cluster wise productivity targets in terms of

i) No. clients serviced ii) New Accounts opened iii) Asset Collection iv) Win back of old clients Making corporate deals

Process

Ensuring zero bad debts/timely cleaning of ledger debits

Laisoning for infrastructure

Customer

People and Org. Development

Having face to face interactions with clients Monitoring underproductive staff

Recruitment of Relationship Managers and other staff in each cluster

Weightage(%)

Expected Result

Meet revenue and P &L

15%

Targets upto __ cost

20%

Meeting targets set for each parameters

Making corporate Deals &

10%

pitches and openings doors to

get ___ clients

Reduction in bad debts or

10%

decrease in top 20% of clients

by value in financial losses by

_____%

Ensuring that basic

10%

Infrastructure/USP/recorded

lines etc are working properly

15%

Meeting upto 80% of clients

10%

Identification of

underproductive staff and

taking appropriate corrective

actions.

10%

Maintaining desired employee

strength

3. Job Title: Data Entry Operator

Performance

KRA

Area

Quantity of Work

Quality of Work

Complete the work in a given time

Give daily status of work to the superior

Maintain full documentation of work

Reduce errors

Weightage(%)

30% 20% 20% 30%

Expected Result

Complete ____ forms in a day Furnish end of the day status update Maintain MIS as per desired format Reduce data entry errors to ____ per application

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4. HR recruiter

Performance Area

KRA

Weight age %

Expected Result

Improve Cost per Hire

15%

Increase hiring through portal to 55%

Overall hiring through portal & supervisor should increase 15% to 85%

Quantity of Improve TAT for on

Work

Boarding

15%

Decrease average TAT to release offers to 40 days from current 47 days

Improve hiring Support in

15%

Ensure that atleast 15 closures per month are done through their own sources like portal

Branches

10%

Improve all India closure rate per month from 31% (per month) to 40%

Reduce rejections in CV sourced

10% Improve selection rate in CVs sent to line to 20%

Quality of Work

Develop Alternate Hiring Avenues

Improve Technical & Fundamental Knowledge

10% Increase hiring through social networking to 5%

10%

Increased business understanding by undergoing Dealers training

How to upload your KRA on PMS

login to hr. and go to

PMS End of series

Upload KRA

Submit

Watch our this space of more learning's on KARVy's PMS ( Performance Management System) philosophy and process

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