The ‘Balanced Scorecard’ is a method of assessing organisational performance, developed by Kaplan and Norton in 1992. The authors believed conventional methods of assessment were outdated and hence attempted to develop a method that covers a broader range of business areas. The scorecard has become...
An unconscious mental process is hard to overcome as we cannot visibly see it. Bias is strongly linked to stereotypes and subconscious assumptions based on a number of aspects. A few being; race, gender, sexuality, social class, job title, social status, accent, weight, disability and age....
Management by Objectives describes the practice of aligning personal goals and objectives to your organisation’s overall goals, usually outlined in their mission statement. The idea is that having employees who understand their organisation’s mission and can see that their day-to-day tasks are contributing to it...
As Corporate Social Responsibility (CSR) initiatives have become more and more popular, the attention of performance management has turned away from only financial and towards a more holistic approach. An emerging idea fitting with this tradition is the ‘Triple Bottom Line’, an innovative way of...
Stretch goals are objectives set that aim to push your team further than ever before. The aim is often assumed to be impossible or at least previously not achieved. The idea is that by setting such an ambitious target team members are pushed out of...
Key Performance Indicators help organisations evaluate their performance over time. Most importantly, they are objectives that are linked to core functions/strategic goals of the organisation. As this is the case, if they are being met, it is likely the organisation is performing well overall. For...
An overall business strategy, and team specific objectives that are required to reach this aim, are vital for long-term success. However, within these plans it is also important to set personal objectives so each employee is aware of their own responsibilities within the strategy. For...
Effective performance management is often cited as the most vital component of organisational success, and hence ensuring it takes place is very important to any company. Whether it is ensuring targets are reached, deadlines are met or quality is maintained at a high level, ensuring...
Dr Tim Baker developed The Five Conversations Framework as an alternative to traditional performance reviews. Dr Baker believed that traditional methods were flawed. He claimed that the key shortcomings of traditional methods include its relative failure to engage employees and its poor perception among employees....
Each and every organisation is unique and requires its own set of Key Performance Indicators (KPIs). It is important when measuring performance to consider what outputs are important to stakeholders, and which inputs drive these outputs. It is also essential to combine traditional performance measures,...