Performance management aims to ensure that objectives are consistently met effectively and efficiently. Performance management can focus on the performance of individuals, groups, processes, and organizations. Its main objective is to deliver results and optimize the performance of human and capital assets.
Although the term ‘performance management’ is a relatively new idea in the field of management, managers and supervisors have been conducting performance reviews with their staff and departments for years. Employees have been trained for centuries and people have worked long, hard hours for many years. Processes such as planning, budgeting, sales and billing have also been carried out for many years in organizations. But too often, these activities are done for the sake of doing them, not to directly contribute to the organization’s desired results.
Being busy is not the same as producing results and adding value to the business. Participating in training or exhibiting a strong commitment and working long hours does not necessarily lead to results. Performance management focuses on achieving results and adding value; for example, achieving a profit target, securing new deals, offering new products and services to customers, or retaining customers. Performance management channels human capital toward effectiveness.
In recent years, companies have faced significant challenges, including increased competition from companies around the world, talent shortages, and environmental challenges. These challenges have meant that companies must be much more careful about the choice of strategies they take to remain competitive. Each and every resource within the organization must be aligned with business goals.
This places more emphasis on ensuring that the systems and processes in an organization are applied correctly to achieve the desired results in the most effective way. Management must ensure that all results throughout the organization continue to align with the overall goals of the organization. This allows for long-term survival and sustained profitability.
Performance in organizations is not limited to the effectiveness of employees; performance management can also be applied to departments, processes, programs, products or services, and teams or groups. It is correct to assume that managing the performance of all aspects of the business is highly dependent on the human capital responsible for them.
For optimal performance management, managers and employees must be mindful of bottom-line results, and bottom-line results must be fully aligned with business objectives. This is easier said than done, due to the absence of practical and effective tools.
A goal-oriented daily tool that provides employees and management with a platform to communicate company strategies and goals on a daily basis would be very welcome in the business community, where employees and managers set their goals for the year and Break it down into monthly goals. Users can then set daily and weekly incremental actions that are required to get results.
Such a tool makes it easy to focus on the bottom line and execute actions that add value to the intended goals, while ruling out non-relevant activities that waste time. This tool also allows the user to reflect on their performance on a daily basis and track what is working and what is not. By adopting such a tool, employees will be able to overcome procrastination and develop new habits of progress and achievement, which have been proven to be the best motivator for employees.
Such a goal achievement tool allows management to track the performance of their employees, helps them appreciate the challenges employees face, and identify the necessary support they need to achieve their intended goals. The diary itself serves as a record book for employee performance and can be instrumental in performance review evaluations.
Performance management is a critical component of business management, and for optimal performance, the focus should be on the utilization of the human and capital assets deployed by a business, with a focus on bottom line results. Therefore, the need for a practical tool to enable compliance cannot be overstated. A daily success organizer or planner can be a practical tool that enables communication of company goals and strategies, alignment of employee actions with business priorities, and elimination of waste.
