Performance Management in Pepsico

New Performance management practices for Dell Technologies

Weakness/ Errors in the present performance management system:

• The system is weak because it essentially focuses on employee evaluation. Therefore, all important dimensions must be exhaustive. You must evaluate the job responsibilities of employees and managers. The evaluation should also include performance, not work sessions throughout the review period. For a more complete periodic feedback, the annual review should be broken down quarterly.

• More practicality is needed for a company's performance management system. At present, the system cannot be applied uniformly to all departments of the organization. For example, performance evaluation focuses more on the manufacturing sector. Investing in better management software will give you a more practical system.

• Companies need to implement a more standardized system. This allows you to always evaluate constant performance in different departments and in all departments. The company was good at implementing continuous training programs. However, evaluation and training of key management is also required.

• More breadth and openness are needed to make a more viable system. Improving the system to continually include contributions from multiple sources encourages the participation of employees and managers. The opening allows transparent communication, ensuring that all information exchanged is open, honest and true.

New model for performance management:

First, let’s have to analyse the performance management life cycle which includes: the designing, implementation and review stages, it is necessary to select and develop the key elements of the system. This includes processes such as the definition of measures, the creation of a map of success, the establishment of objectives, the identification of actions that need improvement and the formulation of key objectives. In the implementation phase, organizations must introduce goals, objectives, initiatives, measures and maps of success. In the post-implementation phase, staff, teams and target managers undergo an evaluation process using the organization's system. The final stage is the review phase, where the system is evaluated to determine its relevance to achieve the objectives of the organization. Recommendations for improvement or complete redesign are considered during the review phase.

Another alternative is to implement balance scorecard. A balance scorecard shows both financial and operational performance measures, which makes it one of the best management systems in performance management. This tool allows companies to define their performance based on four key perspectives: finance, customers, learning and growth, and internal business processes.

The main financial objective is to effectively cover exposure to exchange rate fluctuations, increase tax revenues and generate significant non-US tax revenues.

The client's key objectives include better service achievement and better access needs.

The basic learning and growth objectives should be able to launch a program that attracts, motivates and retains key people and guarantees continuous learning among employees. Key learning and growth plans include: Increased use of the Internet provides employee feedback, employee incentives, reward program design, SAP implementation and global extranet systems.

Key initiatives for internal business processes include: Price innovation, product pre-configuration and design market requirements.

This way, you can eliminate current PMS errors and improve the performance of Dell Electronics Ltd.