Performance Management System to grow Sales & reduce Cost simultaneously
Performance Management System helps in managing employee or system performance and aligning their objectives, facilitating the effective delivery of strategic and operational goals.
Organizational culture has a high impact on manager’s and leadership team effectiveness at and commitment towards performance management. As a result, it is important for an organization to encourage a high performance culture by ensuring that managers and employees understand business strategy and goals. And they are focused on the right priorities with a clear focus on delivering better quality results. Good performance management programs are inbuilt in the culture and occur throughout the year instead of just during the annual review cycle.
For employee performance management, using integrated software, rather than a spreadsheet based recording system, may deliver a significant return on investment through a range of direct and indirect sales benefits, operational efficiency benefits and by unlocking the latent potential in every employees work day.
With a good performance management program in place, managers indicated that employees hit 21.5 percent more of their goal targets. Similarly, employees estimated that with an effective performance management system, they achieve 8.3 percent more of their goals.
An ideal Performance Management & Development process brings positive impact through several avenues.
• Improves employee engagement because everyone understands how they are directly contributing to the organizations high level goals
• Professional development programs are better aligned directly to achieving business level goals
• Create transparency in achievement of goals
• Integrates individual Performance Development with incentives/bonus, learning impact and greater goals of the organisation.
• Helps audit / comply with legislative requirement
• Improved management control.
The Advance Academy is built on a Performance Management technology platform that delivers multi-dimensional skills and knowledge training for businesses. Our business-focused approach to learning determines training needs based on job role. Job profiles define the skills required at different levels of competence, and a management led process allows managers to continually review their people’s training needs and progress. Advance’s Performance Development and Management process is renowned and tested by organisations like Accenture, Vodafone, Xerox, Lufthansa, IBM.
The platform integrates with existing ERP or CRM and provides benefits like:
• The staff member reviews personal performance, documents self-assessment comments and gathers needed documentation, including 360 degree feedback results, when available.
• The supervisor prepares for the PDP meeting by collecting data including work records, reports, and input from others familiar with the staff person’s work.
• Both examine how the employee is performing against all criteria, and think about areas for potential development.
• Develop a plan for the PDP meeting which includes answers to all questions on the performance development tool with examples, documentation and so on.
What can you expect from Advance’s Performance Development & Management Process?
• Grow sales
• Reduce costs in the organization
• Stop project overruns
• Align the organization with organisation’s vision and mission statement.
• Decreases the time it takes to create strategic or operational changes by communicating the changes through a new set of goals. 14th February 2014 From India, Mumbai