We all know that performance management is one area that is continuously evolving. The tough question is how agile one can get, and how much agility is not fragility. In the real world, not all performance management information fits neatly into structured hierarchies. Exceptions are the rule, there are always exceptions and deviations to how information is handled and aggregated.
Here are the top 5 performance management drivers:
Transparency and flexibility: Today’s approach towards performance management calls for transparency, negating all the subjectivities. Since exceptions are the rule, there are always exceptions and hence the approach needs to be highly flexible, in a way that scopes for these exceptions.
Agility – Agility is the key as the goals need to be adjusted during the year in response to changing priorities and market conditions.
Impact and Influence: Performance Managers have also started looking into how certain individuals and tasks impact and influence work internally and develop ways to encourage and assess it.
Holistic: All aspects of performance management, such as quality, processes, projects, governance, risks, compliance management, planning, and budgetingderive from strategy. Your performance management solution should offer a comprehensive overview of your performance that reaches into all functional areas and all organizational levels.
Collaboration: The new processes are moving towards a highly collaborative environment and every business activity and objective are connected to each other. Thus, it has moved away from just measuring and monitoring performance to motivating decision makers to make the best decisions and to quickly respond to changing business conditions.
Lastly, it is very important to keep track of the organization strategy and ensure that it is executed by translating and visualizing it operationally and tactically and by communicating it cross various levels of your organization.
By Yaagneshwaran Ganesh