Wednesday, May 10, 2017

The Monthly “Dot Connections” to Improve Performance Management

Performances are not just numbers with metrics, they are numbers in context, and tell a data-supported business story.

The effects of an increasingly digitalized world are now reaching into every corner of businesses and every aspect of organizations. Digital is the age of creativity and innovation, creativity is the most wanted trait for digital leaders and professionals today, and innovation is the light every organization is pursuing. Creativity is all about connecting the dots. Which dots shall you connect for improving business performance effectiveness and accelerating digital transformation?

Performance Management vs. Digital Organizational Design: Performances are not just numbers with metrics, they are numbers in context, results related to your business goals both at strategic and operational level. Measuring and managing performance means setting performance metrics, making objective assessments, understanding results, adjusting plans & structures, and making decisions to ensure the great business results. The reality in most organizations though is the performance which is forcibly jammed within an existing organizational structure with silo functions and overly rigid hierarchy, and very few companies are truly leveraging organizational development (OD) resources wisely. But due to the digital nature of hyper-connectivity and interdependence, more often, the successful performance improvement initiatives should have representation and input from organizational structure management. Organizational Design vs. Performance Management: How to take an integrated approach, fine tune OD and improve performance management effectiveness and maturity?
High-Performance vs. High-Potential vs. Mediocrity Modern talent management is both art and science. However, most of the HR organizations still use static mechanisms to measure talent performance, mainly based on quantitative delivery, with ignorance of qualitative perspective, talent potential assessment, intangible culture effect, and lack of tailored solutions to reach the next level of talent management maturity. For example, as a talent manager, how do you differentiate High-Performance vs. High-Potential vs. Mediocrity, and how shall you treat them same by treating them differently?
Strategic KPIs vs. Operational KPIs?  KPIs are indicators to identify if the adopted strategy, operation, and process, etc., is working toward the objective. As such, you don't "adopt" a KPI to "achieve an outcome," you adopt a strategy or operational workflow to achieve the outcome, and you define KPIs to monitor the progress and performance. That’s the name KPI –Key Performance Indicators stand for. The provocative question is: is it possible to link operational KPIs to strategic ones to reflect and track the overall progress in achieving the strategic goals?
Scoreboard vs. Dashboard? The balanced scorecard (BSC) is a strategy performance management tool - a semi-standard structured report, supported by design methods and automation tools, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions. In management information systems, a dashboard is "an easy to read, often single page, real-time user interface, showing a graphical presentation of the current status (snapshot) and historical trends of an organization’s key performance indicators to enable instantaneous and informed decisions to be made at a glance.
Performance Management vs. Talent Management: Talent Management (TM)  focuses more on the people element of the organization; where Performance Management (PM) is more about the overall alignment of various organizational functions towards shared vision, mission, and objectives.
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