Fair Performance Managementadmin
Performance management is one of the most important areas of business because it ultimately determines whether a business creates value for its stakeholders or not. There are various stakeholders who are affected by how performance is managed namely Management, staff, shareholders and customers which makes it important to manage performance correctly.
There are two important questions which need to be answered by organisations to ensure high performance;
- 1. Is the organisation measuring the right things? For example; there is no use focusing on sales performance measures when the strategic challenge is specifically with profit margins.
- 2. Is the way performance is measured perceived to be objective and or fair enough by staff? This is important because the performance appraisal process is supposed to motivate staff instead of demoralizing them.
With iStratgo, performance management is not just a tick box exercise but a strategic activity. In fact with iStratgo your performance management process begins when you set your strategy because every measurable goal is ultimately aligned to strategy. Aligning every measurable goal to strategy helps the organisation ensure that every individual staff member, project or organisational unit focuses on activities that actually create value.
Objectivity and fairness is another key focus of iStratgo. iStratgo sets performance contracts or measures against job roles, projects and organisational units instead of individuals. This means all Software Developers are measured the same across the organisation which can be perceived to be fair.