Productivity of PM in translation company

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Information about Productivity of PM in translation company
Business & Mgmt

Published on March 3, 2014

Author: jakub66



To measure the productivity of project managers is vital for language service providers of all sizes. Nobody will oppose the importance of measuring of project managers in terms of the revenues of the projects that they have managed in the given timeframe. Question is what to measure, how to measure and how this should be reflected into their rewards to motivate them. A simple performance rating formula can significantly improve your company's performance and also helps you to control staffing. From the PMs perspective the motivating bonus system will bring employee satisfaction together with sustainable productivity in the long term period. You will be shown our performance management process which we hope creates a work environment helping company to succeed in competitive environment.

Best practices in measuring the productivity of PM and rewarding system for PM J. Absolon,, Slovakia

Why this topic? 1. Theory 2. Comparison of general models 3. Case study from a small TSP

Stereoscopic view Common Goal Pay for Performance

How can graphite and diamond be so different if they are both composed of pure carbon Diamonds were nothing more than carbon, but diamonds are made under pressure.

Who is PM? Model of typical PM Sex: female Age: 26 - 35 Previous job: translator Education: Translation Company size: 10+ Created by M. Reynaud, photos by M. Jang, source CAT Proficiency: SDL advanced 5 projects per day

The most important responsibilities: • Communication with customers • Communication with translators • Selection of suitable translator, reviser, reviewer, proof-reader • Project administration • Delivering the final translation to a customer

The same staff work differently in different environments

Ideal environment • motivating for employees to work hard (Motivation) • fair and reflect their actual performance in the company (Fairness) • transparent and clear to understand (Transparency) • cover all important parts of PMs duties (Comprehensiveness) • in compliance with the company budget (Budget) • connected to the company results, fostering team spirit (Loyalty)

Job analysis • • • • • duties, responsibilities, necessary skills, outcomes, and work environment of a particular job • • • • activity, frequency, volume, impact,

Collection of the information • reviewing the job responsibilities of current employees, • Internet research and viewing a sample job description, • sharing with other companies that have similar jobs

Techniques • Questionnaire • Interview • Final approval

Job description Job Title Job Function Qualifications Required Experience, Skills, Knowledge Training Anticipated Results

"If one does not know to which port one is sailing, no wind is favorable." Lucius Annaeus Seneca

„If you can’t measure it, you can neither manage it nor improve it.“ Quantity   No of projects Volume (words, hours,...) Quality   Complaints Compliance with deadlines Profitability  Gross profit margin

Salary components Company profit share Gross profit margins (%) Bonus on number of projects Translations (revisions) Other (success fee) Basic salary

Fixed + occassional bonus Fixed + projects profit share Fixed + No. of projects Fixed + No. + P. Margin

Fixed + occassional bonus Motivation: ☻ Fairness:☻ Transparency: ☻☻ Comprehensiveness:☻ Budget:☻☻☻☻☻ Loyalty: ☻☻☻

Fixed + projects profit share Motivation: ☻☻ Fairness:☻☻☻ Transparency: ☻☻☻ Comprehensiveness:☻☻ Budget:☻☻ Loyalty: ☻☻

Fixed + No. of projects Motivation: ☻☻☻ Fairness:☻☻ Transparency: ☻☻☻☻ Comprehensiveness:☻☻ Budget:☻☻ Loyalty: ☻☻

Fixed + Profit margin + No. projects Motivation: ☻☻☻☻☻ Fairness:☻☻☻☻ Transparency: ☻☻☻☻☻ Comprehens.:☻☻☻☻☻ Budget:☻☻☻☻☻ Loyalty: ☻☻☻☻☻

Straight scheme vs. fixed bonus scheme Example of fixed bonus scheme: If our goal is to approximate 45% for project profitability • Maximum profit bonus is set to EUR 450, • Minimum acceptable profit, 25%, As soon as a predefined level of performance is achieved, the employee is paid a lump-sum bonus. 25% = €50 30% = €100 35% = €200 40% = €350 45% and more = €450 Gross Profit Margin sample

Company’s main characteristics • • • • • • 10 years of operation 352 clients in 2012 5,339 projects in 2012 From 21 languages to 21 languages 87 language pairs 4 PMs 5 in-house translators, 461 translators in 2012 (about 50 per month) • 10 CAT tools

PM work load Max. 150 projects per month 111 is an average = 5.5 projects per day More than 1,000 received emails per month More than 1,000 sent emails per month 500 – 1,500 files per months 1 entry in TMS has got 28 items

Evolution of pay structures Fixed + No. of projects Fixed + Occassional bonus work load independence Variation of structure and nature lacked fairness transparency source: Fixed + Proj. profit share Fixed + No. projects + Profit share ?

PM activities Basic QA (consistency, gaps, tags) Linguistic review Revision Keeping the deadline TM management Calculation of job Calculation of project Project analysis Communicating queries Writing email Entering the project into TMS Sending the translation to a client Text editing Writing email Assessment of test translation Making a quote Sending a quote by email Solving billing discrepancies with translators Downloading files Dealing with complaints Evaluation of CV

Prioritising, filtering

Job description

Developing of evaluation system Salary components Gross Profit margins (%) Bonus on the volume of projects Bonus on number of projects Translations (revisions) Salary components Gross Profit margins (%) Bonus on the volume of projects Translations (revisions)

Simulation-based optimization (based on records from previous years)

7 steps to tailored model 1. 2. 3. 4. 5. 6. 7. Job analysis Salary benchmark Salary range setup Alignment with the company’s strategy Determination of measurable criteria Simulation based on old data Implementation – measurement – adjustment

What we have achieved • • • • • • • Job description Recruitment Goals awareness Motivation Employee retention Profit Company success Source: Thank you!

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