PowerPoint Presentation

Welcome to performance management

Welcome to performance management,

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The machine that will make us number one.Performance Management-a process by which managers and employees work together to plan, monitor and review work objectives and overall contributions to the organization.

Performance Management-a process by which managers and employees work together to plan, monitor and review work objectives and overall contributions to the organization.

It is performance management that will give us the means to fulfill our business goals and objectives.2

To start our machineWe must first understand it

Management - a discipline that assists in the establishment, monitoring and achieving of individual and organizational goals. Performance- the accomplishment of a given task measured against preset known standards of accuracy, completeness, cost, and speed

Management - a discipline that assists in the establishment, monitoring, and achieving of individual and organizational goals.

Performance- the accomplishment of a given task measured against preset known standards of accuracy, completeness, cost, and speed.

In Performance Management we also have Performance Measurement. These two processes cannot be separated. Performance management both proceeds and follows performance measurement. Management by preceding and following measurement allows for a continuous circle of refinement.

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Align those gears and they will perform correctly

Alignment requires a shared understanding of organizational goals and objectives at various levels and within various units of the organization. A firm's ability to seek and maintain a competitive advantage rests on its ability to acquire and deploy resources that are coherent with their competitive needs. Without alignment, the best strategic plan will never be fully achieved.

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The machine must be maintained. In this case, rewarded and recognized.

It is a proven fact that employees who are recognized for their efforts are easier to retain and are higher in their productivity. Read through the six points presented in this slide. These points are just the tip of a successful recognition program. A good employee recognition and reward system provides employees with three things:1 A fair return for their efforts2 Motivation to maintain and improve their performance3 A clarification of what behaviors and outcomes the organization valuesIt is critical for employees to know that rewards and recognition programs exist. While this would seem self-evident, organizations that do not make ongoing efforts to inform employees often find that their employees either do not know that the programs exist or do not understand how or what the programs reward.

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Using the machine will help us take a risk

Formulating risk based strategy is, Risk management. The strategy of risk management is to assess the key value drivers of the market and its environment. Including identifying the key risk indicators in order to understand the causes of the risk. Strategy and value management is the formulation of the organizations vision, mission, and strategy map. Investment evaluation is the strategic execution aspect, the how much to spend step. Finally, Performance Optimizations is where all of the execution components of the portfolio of methodologies start up. This process is a continuous dynamic cycle.

Organizations must match their risk exposure to their risk appetite and wager its worth. 6

The right people to run the machine

For our purposes culture can be defined as an evolving set of collective beliefs, values and attitudes. Culture is a key component in business and has an impact on the strategic direction of business. Culture influences all things.

Every company has a set of values that govern how it conducts itself. Every company and company path is different but there are still a few principles that will apply in most cases: 1. Change has to start at the top. 2. Think about the culture when hiring. 3. Two-way communication is critical. 7

A machine requires tools. Our tools are dashboards and balanced scoreboards.

A business dashboard is an information management tool that is used to track KPIs, metrics, and other key data points relevant to a business, department, or specific process. Dashboards simplify complex data sets to provide users with at a glance awareness of current performance.

The Balanced Scorecard (BSC) is a strategy performance management tool - a semi-standard structured report, supported by design methods and automation tools, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.

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Have a great day

Through continued innovation, education, and progressive thinking we will be number one in our industry. Our customers will know they are getting the best because they are dealing with the best. Thank you for your time.9

References4 Steps to Successful Execution of a Strategy,By Jesse Torres, Thought Leader and ContributorOverview of Performance Management , University of FloridaRediscovering performance management: systems, learning and integration, Brudan, AurelHealth Resources and Services Administrationhttp://www.hrsa.gov/quality/toolbox/methodology/performancemanagement/index.html

ReferencesEffectively recognizing and rewarding employees: Lessons from Malcolm Baldridge National Quality Award winners, Wilson, Stephanie Y. ACA Journal4.2Why employee recognition is so important, By Kim Harrison, Consultant, Author and Principal of www.cuttingedgepr.comReferences-Balanced Scorecard Institutehttp://balancedscorecard.org/Resources/About-the-Balanced-ScorecardPerformance Management: Integrating Strategy Execution, Methodologies, Risk, and Analytics, by Cokins, Gary