3EA Launches its Matrix for Effective Performance Management System, Designed for SME's

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. The company is a group of professionals having robust experience in the area of Management Consulting, Human Resource, HR Restructuring, Brand, Marketing, Communication, Finance, Risk and Advisory, Information Technology, Media, Education and so on. 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.

For a small business, nothing is more important than its employees. If they are happy, the productivity will increase and the business grows. Self-improvement is a process where an individual continuously tries to upgrade his/her knowledge and hone their existing skills not only to survive the fierce competition but also grow both professionally as well as personally. 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”.

The matrix is understood to increase the productivity level of employees across all divisions. The basic idea, which was fuel for this thought, was to differentiate performers from non-performers. 3EA identified two critical factors responsible for productivity of 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. Usually there is a high degree of heterogeneity amongst employees of SMEs with respect to their capability and performance, hence by categorizing employees according to the matrix different talent management, retention, training & development strategies can be developed. This does not only increase the productivity of an individual but also results in better performance of the organization. Through the 3EA Matrix, the employees can track their performance on a monthly basis thereby resulting in higher productivity and controlled disciplined behavior.

3EA Matrix

Dr. Vibhor Mishra, CEO, 3EA

Dr. Vibhor Mishra, CEO, 3EA said, "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."

 

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 & 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.

 

About 3EA

3EA is a global strategic management consulting group that serves leading businesses, multi-national companies, small and medium enterprises, NGO's and start-ups. We help our clients by result-oriented cutting edge solutions. 3EA with its unique business model serves the clients by catering to cross-functional consulting requirements. Our mission is to help our clients make distinctive, lasting and substantial improvements in their performance. We have handled 354+ projects as of now at India and Singapore. If you are an SME business set up, looking for crossing hurdles on your way, contact us as soon as possible.