In these turbulent economic times it is imperative to increase efficiency and retain the commitment and loyalty of our employees. Many organizations will cope with the current difficulties by reducing budgets, cutting prices and lowering head counts. While this may be momentarily prudent, more must be done to sustain long term success.
Performance Path ® is a unique and effective performance based program which drives leadership, identifies key performance, provides a results driven reward program - Incentive Cache ™ and a proven track record of improving productivity by creating a culture of achievement not entitlement.
Increase Performance While Containing Costs
Managers must understand the Business Drivers outside and within their company.
Outside Business Drivers
Over the next five years millions of baby boomers will retire. No doubt they will be spending less and possible looking for part time work. The demographics are changing around the world forcing dramatic changes to business models. Read Harry Dents “The Great Depression Ahead.”
A simple assessment of risk may include identifying the risk factors and rating them on their potential impact and likelihood of occurrence. Next, consider the possible scenarios and decide how you would structure your organization to effectively deal with them.
What are the products or services offered today?
What areas are most profitable areas now?
What will remain profitable in the future?
What will your company look like in five years?
Restructure to increase resilience and competitive advantage.
Performance management systems usually outline the work performed by employees that will be under review, the time period of the work review, how employee performance is determined and what corrective measures may be instituted by the company to improve performance. This information gives employees an objective review of the performance management system and how it affects their daily tasks. Employees may be required to sign an agreement regarding their knowledge of the performance system.
ReplyDeletePerformance Improvement Plan
Business Management Courses
Employee Appraisal