KRA Full Form
What is the full form of KRA?
The full form of KRA is Key Result Area or Key Responsibility Area. KRA is a management concept that defines an employee's position and duties and refers to the various work areas for which he or she may be responsible. KRA focuses on the JD (Job Description) of employees, which is mostly due to the specific KRAs assigned to each.
KRAs are developed by the company or organization to evaluate employee performance in an organized manner and can also be used as an evaluation tool as these measure focus on overall employee performance.
KRA Writing Methodology
Since these are job descriptions, be sure to thoroughly review the employee's JD. Talk to both the supervisor and the employee as needed.
Find out exactly what the person would do and how they would contribute to the betterment of the company.
Remember all observable essential tasks to be performed on the job. This includes things expressed in percentages, numbers, etc.
Set goals that align with these expectations and write explanations of each task that are self-explanatory.
When describing such goals, be sure to set observable and reasonable objectives and time frames.
Here are a Few KRAs
Human Resource Management and Development
Financial Management
Research and Development Department
Manufacturing
Administration Cell
Information and Communication technology
Marketing and Promotion
Difference Between KRA and KPI
While the terms KRA (Key Responsibility Areas), KPI (Key Performance Indicators) and Goals are often used interchangeably and inaccurately, sometimes there are misunderstandings between them.
Each employee has certain responsibilities depending on their role. These commitments are called KRAs and are detailed in the employee's job description. KPIs, on the other hand, are measurable indicators used to determine the performance of a business unit or organisation.
KRA in Company Job
Numerous benefits can be achieved from a well-defined set of KRAs for each job role, including
Allows each job role to be linked to corporate strategy.
Organisational alignment from top to bottom.
Setting clear goals for employees.
Coaching and counselling based on need.
Regular measurement of results.
Fair performance appraisal.
Hiring employees based on the needs of the business.
Other Related Full Form:-
Frequently Asked Questions (FAQs)
These are the exact aspects of a job profile that an employee must work on. It is a predetermined framework for each employment role that serves as the employee's scope of work. It is a description of the job profile that the company has created.
KRA and KPI are two metrics that are critical to determine whether a company's strategies are on track. Key Result Areas are commonly known as KRAs, while Key Performance Indicators are commonly known as KPIs.
KPIs are important because they give you a value that you can compare to your current performance. KPIs clearly show whether you are meeting your goals or not. Implementing KPIs in your organisation means that you can set goals, develop a strategy to achieve your goals, and evaluate your performance along the way.
Your leadership role and the essential value you bring to the company are defined by your Key Result Areas. A leader's KRAs are the key drivers of a company's success.
Key Performance Areas (KPAs) describe broad areas for which a department or organization - or an individual employee - may be responsible. Unlike KRAs, they are not necessarily tracked with results or outcome-based metrics. But they do describe broad areas of responsibility.