Regularly reviewing the company’s performance management system is needed to align the program vis-a-vis the objectives to keep both employees and customers engaged.
As a result of our cerebral activity last week, I volunteered to be part of a group who will review the performance management system of the company where I’m presently employed.
I believe in a competitive environment, every enterprise has to evolve to adopt to present realities in the market. This, to ensure it’s corporate goals are achieved and operate to earn. There’s a lot at stake, thus, a company must remain competitive. In my opinion, there are at least two crucial elements that a company must keep, otherwise it will affect it’s profitability. Customer Loyalty and Employee Loyalty.
Both customers and employees share common factors why they chose to be loyal. (1) The company brand (image or reputation) and (2) Value for money. On customers view, the value they get from the price they pay, and on employees perspective, the value they get (terms and conditions of employment) from the service they render.
One way to gauge and ensure that a company operate productively, ensure standards are kept and goals are met is a good performance management system. Likewise, to ensure that employees are guided and counseled towards the right direction, and rewarded based on merit is performance management.
We will review the whole system and may redesign new factors that will align corporate goals and expectations, with employee performance. We’ll look into the balance score card thingy and corporate performance management (cpm) system. It will be a lot of work, but worth the effort.