New Delhi, March 13: Market regulator SEBI has decided to separate the Digital Management Information System (MIS) from the Key Result Areas (KRA) in its employees’ annual evaluation process.
According to sources, SEBI has issued an internal circular regarding this change. However, the old system will not be completely abolished but will be tested in a new format. The discussions regarding these changes have gained momentum following the appointment of the new SEBI Chairman, Tuhin Kanta Pandey.
For the past 20 years, the KRA system has been in place at SEBI, but over time, the need for change became evident. The regulator is now considering moving away from a target-based evaluation system.
Previously, overall performance assessments influenced individual employee evaluations, sometimes unfairly affecting those who performed well. Earlier, the MIS recorded numerical data such as “goal achievement” and “success rate,” which played a crucial role in employee career growth and annual assessments.
With the increasing push for digitisation, many departments were hesitant to upload data onto the portal, as they felt it did not accurately reflect their actual efficiency. This led to employee opposition last year, as they argued that focusing solely on numerical targets did not properly measure the complexity of their work.
Under the leadership of the new SEBI Chairman, Tuhin Kanta Pandey, greater emphasis is now being placed on qualitative aspects rather than just quantitative parameters in the evaluation process.
Sources indicate that the new chairman is meeting employees across different departments to understand their concerns and work towards solutions. These changes are being considered a significant step toward improving SEBI’s operational efficiency.
