Pharma Veterans

New Insights on Performance Management – Asrar Qureshi’s Blog Post #996 Dear Colleagues! This is Asrar Qureshi’s Blog Post #996 for Pharma Veterans. Pharma Veterans Blogs are published by Asrar Qureshi on its dedicated site https://pharmaveterans.com. Please email to aq.pharmaveterans@gmail.com for publishing your contributions here. Credit: Ahmed Credit: Alena Shekhovtcova Credit: Alwyn Dias Credit: Khris Kunta kUkU This Blogpost is based on a data published by McKinsey recently. Which came out of survey of 1200 employees at various levels in 11 countries across continents. Link at the end. Performance management stands on four pillars: goal setting, performance review, ongoing feedback, and rewards. Performance management systems are therefore, designed along these lines. Many years ago, the MNC I was working for, started MBO – Management By Objectives. We got training on how to make objectives that would be measurable, and how to give weight to them. As years passed by, many organiz...

AI Driven Performance Management of Future – Asrar Qureshi’s Blog Post 975 Dear Colleagues! This is Asrar Qureshi’s Blog Post 975 for Pharma Veterans. Pharma Veterans Blogs are published by Asrar Qureshi on its dedicated site https://pharmaveterans.com. Please email to aq.pharmaveterans@gmail.com for publishing your contributions here. Credit: Anna Shvets Credit: MART Production Credit: Sora Shimazaki Talent Management has three top metrics: Engagement, Performance, and Retention. Most organizations in Pakistan, however, separate these three and apply different tools and tactics to each of these. Performance management is easier because systems in vogue such as KPIs can be copied and installed. Engagement is more complex as it relates to employees’ emotions. Retention is usually maneuvered through offering extra money, perks, and benefits. Performance management, if done holistically, can tackle all three issues. Our focus in this post is on how new technology of AI will impact the pro...

Approaches to Performance Management – Asrar Qureshi’s Blog Post #974 Dear Colleagues! This is Asrar Qureshi’s Blog Post #974 for Pharma Veterans. Pharma Veterans Blogs are published by Asrar Qureshi on its dedicated site https://pharmaveterans.com. Please email to aq.pharmaveterans@gmail.com for publishing your contributions here. Performance management must be as old as the history of organized work can be traced. Even the individuals working alone would have measured their own performance, and then maybe their family members. The tribal chief would have measured the tribe’s performance collectively besides focusing on certain individuals. As the work became organized, one owner enslaved/ employed several people on farms and in factories. The owner not just kept an eye on his employees, he would hire few supervisors whose job was to ensure no one was sitting idle or shirking work. This later led to layers of management, and it became thicker and more powerful by the day. Management s...

Biases in 360-degree Appraisals and their Mitigation – Asrar Qureshi’s Blog Post #973 Dear Colleagues! This is Asrar Qureshi’s Blog Post #973 for Pharma Veterans. Pharma Veterans Blogs are published by Asrar Qureshi on its dedicated site https://pharmaveterans.com. Please email to aq.pharmaveterans@gmail.com for publishing your contributions here. Credit: fauxels Credit: Jean-Daniel Francoeur Credit: Tima Miroshnichenko 360-degree appraisal is a way to get feedback on performance of an employee from different perspectives. In this system, bosses, co-workers, and subordinates rate the performance of an individual who is usually from mid-level to senior level of management. At these levels, there are enough related employees to provide sufficient data for a detailed assessment. 360-degree feedback may be helpful for creating a long-term roadmap for the employee’s future performance, including training and development. Fewer companies in Pakistan do 360-degree appraisals at certain manage...

Emotional Profiles of Bosses – Sum Up – Asrar Qureshi’s Blog Post #909 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #909 for Pharma Veterans. Pharma Veterans  aims to share knowledge and wisdom from Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Credit: Karolina Grabowski Credit: Maksim Goncharenok Credit: Nicola Barts Credit: Ono Kosuki Dear Readers! Thank you very much for taking keen interest in the ‘Emotional Profiles of Bosses’ series of blogs. It is now time to conclude this discussion. I shall also raise few questions for discussion. Why Did I Call it Emotional Profiles? We, as human beings, learn our behaviors mainly through emotional experiences. Whatever we live through during childhood, adolescence, and adulthood shapes our emotional profile. Generally, we do what we see. Teams working with p...

Analysis of DRAP Performance – Asrar Qureshi’s Blog Post #866 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #866 for Pharma Veterans. Pharma Veterans aims to share knowledge and wisdom from Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Credit: Thirdman Credit: Zakir Rushanly Credit: Zakir Rushanly This blogpost partakes from a June 2022 article by Shahid Mehmood of PIDE, published in Munich Personal RePEc Archive. Link at the end. DRAP – Drug Regulatory Authority Pakistan is the regulatory body for regulating the pharma industry, and it is not always straightforward to analyze the performance of a regulator. Indirectly, the status and performance of pharma industry in any country reflects the performance of its regulator. It is also true that the industry and regulator have a love-hate relationship; they det...

Do All Employees Create Equal Value for the Organization? – Asrar Qureshi’s Blog Post #850 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #850 for Pharma Veterans. Pharma Veterans aims to share knowledge and wisdom from Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Credit: PICHA Stock Credit: Gary Barnes Credit: Thirdman It is not about status, and it is not about the amount of value created; it is about creating value in the assigned domain and in the expected quantity. A September McKinsey article written by Aaron De Smet, Marion Mugayar-Baldochhi, Angelika Reich, and Bill Schaninger (link at the bottom) discusses the issue with reference to the differing levels of engagement of employees.  Employee engagement is a topic close to my heart and in my management practice, I watch it closely and keep manag...

Recent Trends in Annual Appraisal System – Asrar Qureshi’s Blog Post #845 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #845 for Pharma Veterans. Pharma Veterans aims to share knowledge and wisdom from Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: MART Production Photo Credit: Tima Miroshnichenko Major objections on annual or semi-annual appraisal system may be summarized as follows. • Annual Performance Review is a review of the past; distant, or near. Most commonly the more recent examples are taken for discussion. • APR measures performance against a set of indicators which were set a year ago. It does not take into account changes which might have taken place in the corporate landscape over time. • APR does not view the incremental changes in the performance of employees. • APR divi...

Annual Appraisal System is Dead – Asrar Qureshi’s Blog Post #844 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #844 for Pharma Veterans. Pharma Veterans aims to share knowledge and wisdom from Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Alex Green Photo Credit: Mikhail Nilov Photo Credit: Tima Miroshnichenko I recently read an article by Mr. Benham Tabrizi, Stanford University Director of Executive Program/ Teaching Faculty. He is author of 10 books and an advisor to Boards and C-suite. The title of his article is ‘Why the performance review is dying out – including at companies like Apple and Microsoft’. Then I did more reading on the subject and reviewed what has already changed and what is still changing. The topic resonates with me very well. Having worked in the corporate world for a lon...