Performance Management
Pretium has conducted performance management gap analysis for numerous companies to assess the efficiency and effectiveness of current performance management and performance linkage. This includes:
- Design balanced scorecard which is consistent with business strategy and future direction. KPIs should be set to encourage investment sustainability, return and risk management
- Cascade firm-wide and department KPIs to make sure individual KPIs are consistent with firm-wide ones and individual performance could be transferred into firm-wide performance
- Widen incentive differentiation among employees based on individual performance to improve the return on firm-wide incentive package
- Promote pay for performance culture to strengthen alignment between performance appraisal and employee promotion, separation and incentives; encourage and support long-term development of management team and other employees
- Optimize performance appraisal process and vehicles to ensure the performance management system is well implemented by management teams and other employees. Avoid overrating as well as central tendency and ensure differentiation
