Tuesday, October 16, 2018
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3EA launches its matrix for effective performance management system, designed for SME's

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Mumbai [India] | October 11, 2018 5:41:38 PM IST
Mumbai [India], Oct 11 (NewsVoir): 3EA is the first and fastest growing Indian public limited management consulting company offering 360-degree functional strategic solutions across industries to the SMEs of India and South East Asia.

They extended the horizon of 'Business Consulting' 3EA is helping entities for various solutions under one roof and believe in solving business problems by innovative ways for SME's, Corporates, NGO's etc. Having a pan India and Singapore presence and network, 3EA works at grass root level to create value in the business of SMEs.

Some months back 3EA did a survey in districts of Central UP with regards to Growing Entrepreneurship Potential for SMEs in UP. A survey conducted in Central U.P., to assess the potential of SMEs in Uttar Pradesh revealed that the younger generation of UP has shifted its focus from full time jobs to become entrepreneurs. They are trying for start-ups related to their domain and are looking forward for incubation and financing support.

Individuals need to move with time and keep abreast of all the latest developments in their respective fields. To make the improvements in performance more quantifiable, experts from 3EA have developed their own Performance Management System (PMS) - Matrix called "3EA Matrix".

3EA identified two critical factors responsible for productivityof an employee; they are Performance against Key Result Areas (KRA's) and Behavior against Policies. In 3EA Matrix, each of the categories is interestingly defined and linked with individual development plan.

"Recognizing the need for individual control and development, we evolved the PMS matrix which will be an effective tool for SME's. A key feature of this matrix is that the performance sheet of all the employees can be seen at the end of each month. The terminology used for each quadrant (image above) is easy to relate and facilitates comprehension of an employee's standing for the month. This innovative 3EA matrix has helped several organizations," said CEO 3EA, Dr. Vibhor Mishra.

The 3EA Matrix is now used by some of the industries such as FMCG, Jewelry, Geotechnical instruments, Education, Entertainment, Home Decor and etc. The main aim of 3EA is to bridge the gap between know how and actual performance. The organizations that have started using the 3EA Matrix have observed significant improvement in their employees' performance with the productivity level of employees rising by up to 38% in some organizations.

The most interesting aspect of the tool is that 3EA Matrix is equally useful for employer and employees. Employer is able to differentiate and categories the employees through nine categories on performance and behavior while an employee can work on his 'IDP' (Individual Development Plan) so that he can move from his present quadrant to the desired one and achieve his target growth.

3EA Matrix with IDP through HRMS has been applied in 18 SMEs and has been recognized as very effective tool to increase the productivity of the organization. (NewsVoir)

 
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