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PERFORMANCE MANAGEMENT
Performance Management provides both a strategy and a process for leveraging human capability. It stimulates productivity, quality assurance and world-class service with the ultimate goal being competitive advantage. Performance Management is implemented through the following three steps:
Performance Management provides both a strategy and a process for leveraging human capability. It stimulates productivity, quality assurance and world-class service with the ultimate goal being competitive advantage. Performance Management is implemented through the following three steps:
Set corporate goals focused on the company’s vision, mission and core values. The vision sets the ideal for the company’s future and it usually articulates that future in terms of growth, service and brand image. The vision sends a consistent message to all employees and customers.
Keeping the vision and core values in mind, cascade the goals into operating objectives and individual performance targets that include key performance metrics. Each corporate goal is directly connected to clearly stated objectives and targets in every business unit. Every objective and target must serve one of the corporate goals.
Monitor and measure manager and employee performance through qualitative and quantitative metrics. These metrics are then linked to the company’s financial goals and incentive compensation. When these “pay for performance” links are clear to managers and employees, the process leverages workforce capability for producing outstanding return on investment (ROI) in human capital.
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Many companies have difficulty setting up “pay for performance” systems due to disconnects between corporate goals, business unit objectives and individual performance targets and metrics. Performance Management provides a unique solution by automating the setting, monitoring and completion of goals within each manager’s business unit. In addition, it develops a composite picture of the entire organization for the Chief Executive Officer. The CEO can see what is going on across the company “at a glance” from anywhere.
Performance Management drives the essential communications, teamwork and accountability necessary for managers and employees to get on the same page in order to achieve corporate goals. Corporate results are achieved through goal alignment and accountability. In other words, you have to inspect the performance you expect!
Performance Management is more than evaluating employees!
Today, only half of employees understand how their actions relate to company goals. Over 40% feel their compensation is not adequately tied to job performance, and over 75% say their company does not reward them or motivate them to achieve goals. Most employees do not even have a clear understanding of what’s expected of them or how the company is evaluating them. Performance Management requires a monitoring system that integrates an organization’s vision and values with the daily activities of its people. Performance Management is part process, part software, and part roadmap. It motivates organizations, teams and individuals to work together to reach goals and to head off problems before they become big. By implementing Performance Management in your organization, you will gain the ability to:
Execute your vision
Motivate employees to perform to standards and goals
Monitor progress towards goals company-wide
Foster regular communication and teamwork
Quickly identify problem areas in the organization
Performance Management drives the essential communications, teamwork and accountability necessary for managers and employees to get on the same page in order to achieve corporate goals. Corporate results are achieved through goal alignment and accountability. In other words, you have to inspect the performance you expect!
Performance Management is more than evaluating employees!
Today, only half of employees understand how their actions relate to company goals. Over 40% feel their compensation is not adequately tied to job performance, and over 75% say their company does not reward them or motivate them to achieve goals. Most employees do not even have a clear understanding of what’s expected of them or how the company is evaluating them. Performance Management requires a monitoring system that integrates an organization’s vision and values with the daily activities of its people. Performance Management is part process, part software, and part roadmap. It motivates organizations, teams and individuals to work together to reach goals and to head off problems before they become big. By implementing Performance Management in your organization, you will gain the ability to:
Execute your vision
Motivate employees to perform to standards and goals
Monitor progress towards goals company-wide
Foster regular communication and teamwork
Quickly identify problem areas in the organization
