Axtria Insights

Axtria Insights

CASE STUDY
Performance Management – Identify, Reward and Grow Talent

Situation

The client, a large retailer, is grappling with high employee turnover and very low motivation. It needs a solution for effective performance management to keep employee churn low and motivation high.



Challenges

Key challenges included:

  • How do I ensure the integrity of performance management system?
  • How do I identify individuals for job rotation/leadership programs?
  • How do I enable rewards that are motivating?


Approach

Our overall approach included the following steps:

  • The first step was to scour through the available data to assess the situation.
    • Employee demographics
    • Assessment data
    • Promotion information
    • Transfer information
    • Tenure data
    • Salary and benefits information
    • Incentive Compensation
  • Identify evaluation pattern
  • Identify and profile “Fast track” candidates
  • Diversity at each level
  • Equity and fairness  of the Incentive Compensation (IC) program

A Balanced Scorecard Design Process was implemented with the following Business Objectives to realize the Goal –

  • Define Metric and Measurement Rigor
  • Establish clear Tolerance Zone
  • Allocate appropriate weightage

 

Result

Below are the improvements achieved through the Solution Approach -

  • Increased talent retention
  • Increased appropriate employee turnover
  • Improved employee morale
  • Quantifiable link between employee performance and benefits