KPI reporting can clearly communicate the progress of a company towards its performance goals. Not only the managers can access key results in an instant and transparent manner, but also make informed strategic decisions.
When speaking of performance management, many think of the annual performance review process. But the annual performance review or appraisal is only a small component of employee performance management.
Whether you are running a big organization with hundreds of employees, or a small company with just tens, employee performance is a critical component for the survival of your business. Although the methodology, approach, and complexity may differ from a company to another based on the internal culture, industry, size or other factors, the core of a successfully implemented performance management remains the same; technology.
Strategy teams and performance specialists are usually responsible for communicating performance measures to employees and making sure they are reporting their actual achievements on time, in order to generate accurate performance reports.