Objectives

#1 To provide an overview of the elements of performance

#2 Provide reasons why performance is managed

#3 Demonstrate the positive impact performance management can have

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Workbook with Slides

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Video Transcript

Performance starts when executives get together and set goals for the Organization. These goals are supported by business processes which can be delivered through physical means or through administrative means. Either way, the processes should produce clean and

reliable data which can be used to evaluate performance such as Key Performance Indicators (KPIs). But performance can also be evaluated through another process called projects / tasks that have a start and finish date and produce performance data. Once the performance data is evaluated, it can be translated into rewards as well as into personal and development plans both for the individual and for organizations as well. So performance starts with goals and ends in development and rewards.

At the centre of Performance Management is a document known as a Performance Contract, or Performance Scorecard. This is a document that gives us very important information such as WHAT is being measured. Coming to the right KPIs is critical and also once we are in the process, we need to understand how the performance is going and how it will be evaluated with comments and explanations.

Secondly, we also to understand WHY we are measuring certain KPIs. How this is linked to the business strategy,and the goals of the organization.

Thirdly, we need to understand WHO is being measured.

Fourthly, WHERE in the organization do these people fit. Is it in a department? Is it in a team? is it in a branch etc.

Fifthly, we need to understand WHEN is performance measured. Is it Weekly, Monthly, Quarterly?

And finally, HOW is it measured? What are the targets? What are the standards? What would constitute good performance as well as what action steps need to be put inplace to correct underperforming KPIs.

For the process is to be meaningful, make sure the performance contract or scorecard is done at quality. This means that you should ensure that the KPIs are carefully selected and create the right

focus. Also, make sure that they are aligned to the organization's goals, and that the targets are meaningful and achievable. Can you imagine someone like Elon Musk, not having clearly aligned goals? Not knowing how to measure those goals, and not having reasonable targets that he can strive towards.

Secondly, it's very important to engage around the conversation of performance. Can you imagine if Oprah Winfrey worked in your organization and she never engaged her Boss around what was expected of her? I don't think that would happen.

Finally, KPIs need to be measured and evaluated often. Can you imagine someone like Usain Bolt (who is a performance guru) only measuring performance once or twice a year? That's unlikely to happen. Neither him nor his coach would accept that.

Measuring performance is a great way to create engagement, to great focus, to create change in the organization and for you and your colleagues to be recognized as well as to be rewarded, as

well as to be developed and grown.

Measuring performance will help you be successful and success is both fun and addictive.

Conclusion

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