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Outsourcing the human resource (HR) processes is the latest practice being followed by middle and large sized organisations. It is being witnessed across all the industries. In India, the HR processes are being outsourced from nearly a decade now. Outsourcing industry is growing at a higher rate. Outsourcing organizations strive for providing cost saving benefits to their clients.
The functions that are typically outsourced are the functions that need expertise, relevant experience, knowledge and best methods and practices. This has given rise to outsourcing the various HR functions of an organisation. Career Ladder HR Solutions provide such services through expert professional consultants.
Performance management outsourcing involves all the performance monitoring, measurement, management being outsourced from a third party or an external organisation.
Performance management outsourcing includes the following components:
- Performance appraisal system
- Goal setting and the action plans to be followed
- Developing forms, policies and principles, and procedures
- Standards or tools to measure performance
- Defining key performance indicators
- Training and development of managers/ appraisers
- Employee performance Monitoring and feedback management
- Incentive and benefits planning and administration
- Feedback integration (Training and Operational Interventions)
- Severance, Attrition and exit administration
- Implementing the complete system in the organisation
- Talent management and succession planning