Performance Measurement improves the management and delivery of products and services. Manually managing information can result in outdated information being drawn from multiple systems and reports, often duplicating effort. This can create difficulties in forecasting and creating strategic plans.
Performance management is focused on achieving a balanced framework that addresses poor management, learning and change; long-term goals over short-term goals; and asset creation and growth. The Poirier Group’s strategic planning team utilizes a number of tools to help your organization determine what the business must do as it moves into the future.
The Poirier Group has experience in designing and implementing performance measurement tools in multiple industries. This will better connect the dots between big picture strategy elements, strategic focus areas, and the more operational elements such as objectives, strategic performance measures, targets and initiatives. Analysis is then performed to link performance measures to organization strategy to ensure effectiveness and relevance of performance measurements.
We will work with your team by hosting workshops [link] with key individuals and groups in your company to develop the metrics that best encompass the strategic elements and daily work products. Training your entire organization on these performance management tools will ensure long term success and sustainability of your solutions and a more motivated workforce.
If you are to transform into:
Then you must:
Performance management tools will aid and accelerate this transformation
A Balanced Scorecard is a strategy performance management system that allows managers to keep track of how staff is executing activities and allows an agency to align its strategic activities to the strategic plan. It guides your organization to set, track and achieve your strategic vision by ensuring you are not only doing things right, but are doing the right things right. Readily available information allows decisions to be made strategically and quickly, and align business metrics with their vision and values; customer needs and wants; and employee objectives and performance
Almost always customized, a Balance Scorecard (BSC) should build your objectives to measure yourself against key pillars of your organization (i.e. financial, customers, organizational capacity and internal processes), and track KPIs against your goals.
Major change often takes a long time, especially in big organizations. The Balanced Scorecard is never really complete because your business is never complete. Fortunately, the BSC is a flexible tool that can handle changing conditions as long as it is maintained, nurtured and built upon
Objectives and Key Results (OKR’s) is a collaborative goal-setting protocol for companies, teams and individuals.
Objective: What is to be achieved, which is aspirational, challenging, concrete and action oriented
Key Results: How we get to the objectives, which is Succinct, specific and measurable OKR’s are used for setting and tracking objectives to enable clarity and help ensure that the company focuses efforts on what truly matters. They are ultimately a collaborative approach to goal setting, creating focus, alignment, accountability and acceleration. OKR’s link diverse operations, lending purpose and unity to the entire organization. What makes them truly unique is that they are used by everyone at every level of the organization – from shop floor workers to C-Suite executives and can be either tactical or high-level. OKRs are also more aggressive and ambitious than traditional goal setting methodologies.
4 factors of OKRs:
With our clients, we distribute a weekly report card to facilitate integrity, accountability and transparency.
OKR and KPI work perfectly together. KPIs help monitor performance and identify problems and areas for improvement; OKRs help solve problems, improve processes, and drive innovation. You’ll need both.
Key Performance Indicators, also known as KPIs, are measures used to track the operation of your organization and indicate progress toward a desirable outcome. While you may track many things relating to your business, it is important o identify a subset that are “key” to your overall success. This can be for an individual project or the overall success of your company. A strong KPI contains meaningful information that helps shape the decisions you need to make such as the revenue of a product line or the uptime of a key service. KPIs should be operational, strategic and achievement of them should lead to the success and sustainability of the business in the long term.
A good metric for a KPI meets 3 conditions:
A RACI chart is used to identify who is Responsible, Accountable, Consulted or Informed at each step in a process. Conducting a RACI on the current state process has many benefits including:
Setting you up for success, enforcing ongoing discussions and review of progress. This tool outlines all meetings, high level milestones, Standard Operating Procedures (SOP’s) for those meetings, key attendees across all departments and has a calendar view.
A Master calendar can help to:
Goal setting, alignment and management should be a priority for companies of all sizes and industries in order to prevent employees from getting overextended, keep everyone on a focused path, and to motivate people towards accomplishing a goal together. Goal alignment lets you capitalize on your employees’ performance and progress, which in turn drives profits.
The purpose of goal setting is to help the organization achieve high performance: