Performance solutions
Top performing organisations adhere relentlessly to the following practices:
- Define how they create and maintain sustainable value at least once a year, using a feedback loop system
- Set performance targets for achieving this value which are then cascaded throughout all levels of the organisation
- Manage organisational performance to meet these targets through the right combination of financial and operating goals and metrics
- Link employee rewards, incentives, career development and performance evaluations to their success or failure in delivering these targets
Introduction
Budgeting processes not linked to individual performance result in wasted resources and ineffective planning. Successful performance management depends upon measuring effectiveness: (doing the right things) and efficiency (doing things right). It aligns behaviours and dramatically improves the accuracy of your business forecasts.
Strategic performance management is a holistic process. It involves reviewing performance at all levels of an organisation to determine how it can best achieve its goals. It works by giving managers access to relevant and accurate information about the company’s position to enable them to make effective decisions, align behaviours and prioritise operational objectives.
The link between strategy and performance has long been acknowledged. Unless your organisation has company-wide performance information and reporting standards in place, employees will be unclear about where your business is going. This inevitably has a negative impact on profitability and morale.
Geojan’s in-depth experience in strategic performance management can help your business align behaviours and significantly improve the accuracy of your financial forecasts.