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Performance Management

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 Manually managing information can result in outdated information being drawn from multiple systems and reports, often duplicating effort.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.

Why Measure Performance?
  • Improve the bottom line by reducing the process cost and improve productivity and mission effectiveness.
  • Align your strategic activities to the strategic plan.
  • Provides a rational basis for selecting what business process improvements to make first.
  • The visibility provided by a measurement system supports better and faster budget decisions and control of processes in the organization. This means it can reduce risk.
  • Visibility provides accountability and incentives based on real data.
  • It permits benchmarking of performance against outside organizations.
  • Estimate costs more effectively by collecting information on process costs.
Our Approach

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:

  • A performance-driven culture focused on continuous improvement that leverages technology and employees’ skills;
  • A highly efficient business infrastructure;
  • A company who is focused on your customers and extends to our employees, vendors and communities;
  • An organization that continues to involve, develop and recognize our employees who contribute to your success;

Then you must:

  • Continuously improve
  • Leverage technology
  • Understand the metrics to drive the business
  • Discuss the metrics
  • Make decisions based on the metrics

Performance management tools will aid and accelerate this transformation

Benefits of managing performance effectively
  • Connects people, process, technology, data and culture
  • Promotes alignment and accountability throughout the organization
  • Delivers the right information at the appropriate level of granularity to management for decision making
  • Provides useful and relevant information
  • Supplies error free, verifiable, high quality data
  • Built on connected business cycle components including budgeting, planning & forecasting, financial consolidation, reporting & analysis, business intelligence, modeling and master data management
  • Eliminates risk of manual information management
  • Sets clear expectations on roles and responsibilities and define consistent performance standards
  • Ability to celebrate successes and performance above and beyond the set standards

Performance Management Tools

Balanced Scorecard

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 

Purpose:

  • Easily and comprehensively track and communicate the performance of The company
  • Inform the direction and efforts of the organization;
  • Understand the status of the organization and its component parts;
  • Focus discussion and planning during meetings.

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

OKRs

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:

  • Focus and commit to priorities
  • Align and connect for teamwork
  • Track for accountability
  • Stretch for amazing

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.

KPIs

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: 

  1. It’s directly connected to the financials. Improve the key number, and you get better financial results.
  2. It’s not imposed from executives. Open-book companies consult with managers, employee teams, and other stakeholders to develop their key numbers. They ask: What are the biggest challenges we’re facing this year? The biggest opportunities? How can your unit best measure its contribution?
  3. It’s for now—not forever. Companies’ situations change. Sometimes revenue growth is the top priority, other times profitability or cash flow. When a company makes progress on one objective, it may want to set its sights on another the following year.

Responsibilities Matrix (RACI)

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:

  • Eliminating role confusion
  • Preventing over/under allocation of resources
  • Clearly defining roles and delivering a clear understanding of expectation and reducing the need for conflict resolution later)
  • Ensuring no task is overlooked when resources are allocated.
  • Providing a fast and efficient way to re-allocate resources if there is turnover. New hires can quickly identify their roles in a project and the roles of those with whom they must interact
  • Identifies areas where there is a duplication of effort
  • Reduces misunderstanding
  • Determines ownership
  • Reduces bad decisions by ensuring that the correct people are involved
  • Clarifies handoffs and boundaries

Master Calendar

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:

  • Continue the frequent meetings to keep the team aligned on the right direction and keep key personnel informed.
  • Create cross-functional synergies
  • Remove redundancies in meetings and create efficiency in meeting management

Goal Setting

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:

  • Strategic goals are broad statements about where the organization wants to be in the future. They pertain to the organization as a whole rather than to specific divisions or departments.
  • Tactical goals define the outcomes that major divisions and departments must achieve in order for the organization to reach its over-all goals.
  • Operational goals are specific, measurable results that are expected of departments, groups and individuals within the organization.