| |
 |
Performance Management |
|
| |
Today, most senior management teams craft vision statements and supporting strategic plans. However, the real challenge that management teams face is to ensure that their visions and strategies are realized.
Measurement of individual performance is increasingly being recognized as a key lever to assist organizations keep up with the accelerating pace of change. It is only by building a robust performance management system that organizations will be able to reinforce behaviours that lead to the achievement of its business goals. |
|
|
| |
We, at Reach Potential, believe that the essence of a good performance management system is its simplicity. There needs to be a clear logical linkage of the different components of the performance management system, which will need to be closely monitored to ensure effective implementation. As a precursor to designing the actual system, we advise our clients to consider the following: |
|
| |
 |
‘WHY’ should the organization have a performance management system? What |
| |
are the objectives of the system? |
|
|
WHAT’ does the system attempt to measure? How does it define performance? |
|
|
‘HOW’ does the system measure performance? What are the design elements |
| |
and the process steps? |
|
|
|
| |
Reach Potential will collaborate to transform client organizations into high-performing organizations, through:- |
|
| |
|
Designing strategic performance management systems, helping in alignment of |
| |
individual and organizational goals, and also objective measurement of performance |
|
|
Developing performance parameters that are not only aligned with the needs of |
| |
business but are also capable of being used to measure actual contribution at both organizational and individual levels |
|
|
Coaching and mentoring the client counterpart team to own the new system: |
| |
Skills building for the appraisal process will be imparted in a phased manner, nearer to the actual event to enable maximum transfer of learning to the job. |
|
|
Providing implementation support and facilitating a better understanding of the |
| |
system among the employee population
|
|
|
| |
We also possess the expertise to design more complex matrix measures such as the Balanced Scorecard. We realize that a growing number of businesses have begun to explore and introduce this new framework for the management of performance. A 'balanced scorecard’ is a new way of measuring performance against wider corporate objectives, primarily by taking the emphasis away from purely financial measures. Most significantly, the scorecard approach complements traditional financial indicators with measures of performance from a variety of other, broader corporate perspectives, like customers, business operations, growth of skills within the business and the capacity to adapt to change.
Reach Potential will provide clients with the assistance required to set up a performance scorecard for their organizations. This includes: |
|
| |
|
Setting up the scorecard hierarchy – Overall organization, Strategic Business |
| |
Units (Functional areas, divisions, geographic) |
|
|
Establishing objectives and measures to be incorporated into the scorecard |
|
|
Developing the Strategy Map and linking objectives and measures in a cause and |
| |
effect relationship |
|
|
Establishing performance ranges and weighting measures/objectives/ |
| |
scorecards |
|
|
Setting up initiatives and action plans based on objectives |
|
|
Designing an on-going management process of the scorecard |
|
|
|
|
|
|
