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PERFORMANCE MONITORING & MANAGEMENT SYSTEMS
Integrated Performance Management (IPM) is an innovative system that 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. IPM is implemented through the following three steps:
Workforce Planning Systems
The primary reason for doing workforce planning is economics. If done well, workforce planning will increase productivity, cut labor costs, and dramatically cut time-to-market because you’ll have the right number of people, with the right skills, in the right places, at the right time. A comprehensive Workforce Plan will address the following business needs:
Forecasting and assessment: Estimates of the internal & external supply and demand; labor costs; company growth rates; and company revenue.
Succession planning: Designating the progression plan for key positions.
Leadership development: Designating high-potential employees; coaching; mentoring; rotating people into different projects.
Recruiting: Estimating needs for head count, positions, location, timing, and more.
Retention: Forecasting turnover rates; identifying who is at risk and how to keep them.
Redeployment: Deciding who is eligible for redeployment, and from where to where.
Contingent workforce: Designating the percentage of employees who will be contingent, and in what positions.
Potential retirements: Figuring out who's eligible, when eligible, replacement, alternative work arrangements available that could prevent a retirement problem.
Performance management: Instituting "forced ranking" or identifying who should be "managed out."
Career path: Career counseling for employees to help them move up.
Backfills: Designating key-position backups.
Internal placement: Developing job-posting systems for internal employees to get a leg up on new openings.
Environmental forecast: Forecasts of industry and environmental trends, as well as a competitor assessment.
Identifying job competencies: Doing a skills and competencies inventory.
Metrics: Identifying metrics to determine the effectiveness of workforce planning.
Integrated Performance Management (IPM) is an innovative system that 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. IPM is implemented through the following three steps:
Workforce Planning Systems
The primary reason for doing workforce planning is economics. If done well, workforce planning will increase productivity, cut labor costs, and dramatically cut time-to-market because you’ll have the right number of people, with the right skills, in the right places, at the right time. A comprehensive Workforce Plan will address the following business needs:
Forecasting and assessment: Estimates of the internal & external supply and demand; labor costs; company growth rates; and company revenue.
Succession planning: Designating the progression plan for key positions.
Leadership development: Designating high-potential employees; coaching; mentoring; rotating people into different projects.
Recruiting: Estimating needs for head count, positions, location, timing, and more.
Retention: Forecasting turnover rates; identifying who is at risk and how to keep them.
Redeployment: Deciding who is eligible for redeployment, and from where to where.
Contingent workforce: Designating the percentage of employees who will be contingent, and in what positions.
Potential retirements: Figuring out who's eligible, when eligible, replacement, alternative work arrangements available that could prevent a retirement problem.
Performance management: Instituting "forced ranking" or identifying who should be "managed out."
Career path: Career counseling for employees to help them move up.
Backfills: Designating key-position backups.
Internal placement: Developing job-posting systems for internal employees to get a leg up on new openings.
Environmental forecast: Forecasts of industry and environmental trends, as well as a competitor assessment.
Identifying job competencies: Doing a skills and competencies inventory.
Metrics: Identifying metrics to determine the effectiveness of workforce planning.
| • | Set corporate goals focused on the company’s vision, mission and core values. |
| • | Keeping the vision and core values in mind, cascade the goals into operating objectives and individual performance targets that include key performance metrics. |
| • | Monitor and measure manager and employee performance through qualitative and quantitative metrics. |
Human Capital Reporting Systems
Many companies now develop annual Human Capital Reports. The report formats vary greatly but usually there are sections focused on employee engagement, retirement trends, attrition trends, growth trends, skill gaps, risk factors, employee costs, business changes, key performance indicators, human capital goals, and profit per employee.
Many companies now develop annual Human Capital Reports. The report formats vary greatly but usually there are sections focused on employee engagement, retirement trends, attrition trends, growth trends, skill gaps, risk factors, employee costs, business changes, key performance indicators, human capital goals, and profit per employee.
