Published on March 3, 2014
Best practices in measuring the productivity of PM and rewarding system for PM J. Absolon, ASAP-translation.com, 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 dailymail.co.uk. 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: www.smithsonianmag.com 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
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: http://www.hrajhry.sk Thank you! email@example.com www.asap-translation.com
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