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Assessing leadership effectiveness: the key to driving organizational excellence
KMP are individuals who play a significant role in the conduct of the company's affairs, and their performance is essential to the company's success. Assessing the performance of key managerial personnel involves analysing their achievements, contributions, and adherence to performance targets and key performance indicators (KPIs). This evaluation can be done through a combination of self-assessment, peer feedback, and feedback from subordinates and stakeholders.
KMP performance evaluation is a comprehensive process that aims to assess the effectiveness, achievements, and overall contribution of key managerial personnel within an organization. It involves evaluating their performance against predetermined goals, key performance indicators (KPIs), and leadership competencies.
A third-party-enabled 360-degree feedback of the KMPs aims to enable development and a marked improvement in their performance, to help the organisation they serve to augment their performances, contributing to overall organisational growth and succession planning.
The 4-tier approach for 360-degree KMP assessment involves:
(1) Quantitative Questionnaire (for concerned KMP and the whole
board)
(2) Interview Based Feedback (with all identified touch-points)
(3) Values in Action Test
(4) Rational Emotional Behaviour Test
Maintaining the utmost confidentiality, IOD ensures trust and privacy for all stakeholders involved. By partnering with IOD for KMP Evaluation Services, organisations gain access to unbiased insights, strategic recommendations, and a commitment to fostering strong and accountable boards. With IOD's expertise and guidance, boards can make informed decisions, strengthen their governance practices, and drive sustainable success.
• Improved performance:
KMP evaluation
services can help to identify areas where the KMP can improve
their performance, and to develop development plans to help them
reach their full potential.
• Increased accountability:
KMP evaluation
services can help to increase the accountability of KMP, and to
ensure that they are meeting the expectations of the company.
• Better decision-making:
KMP evaluation
services can help to improve the decision-making of KMP, by
providing them with feedback on their strengths and weaknesses.
• Increased engagement:
KMP evaluation
services can help to increase the engagement of KMP, by giving
them a voice in the evaluation process and by providing them with
feedback on their performance.
