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.
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.
In a previous post on the 3 Myths About Performance Management, we discussed the Symmetry Myth, where performance specialists tend to measure everything equally because they see every single measure to be very important. Therefore, they evaluate all steps with the same effect on the employee’s performance score. In other words, all performance measures are given equal weights.
When creating a business strategy, considering expectations against reality can be challenging. The management team is tasked with integrating all processes of the business, aligning them with the goals of vision of the organization.
Setting up your performance management system is a complex process that requires a huge amount of time and effort, and the involvement of multiple functions to ensure that your system is comprehensive and covers all required aspects of performance, including financial, people and processes.
Throughout our work with several organizations to help automating their strategy execution and performance management processes, we’ve encountered some common obstacles, which stood as rock-hard barriers, delaying, and sometimes preventing the start or progress of the execution process.
Your employees are your most valuable assets. You want to keep them motivated, passionate about their jobs and productive enough to help you achieve your organization’s goals. The direct way to accomplish this is by ensuring an effective performance management process is in place.