Performance management: making the connection between business goals and work
For global firms, the recent past has been marked by financial crisis, an unpredictable recovery and persistent uncertainty. Looking to the future, the dominance of fast growing economies leaves industrialized nations facing ever-greater challenges to maintain a competitive edge. Those that survived the economic crisis now need to shift gear.
Despite the M&A market picking up, firms cannot rely solely on acquisitions to achieve growth. However, businesses looking to grow organically are going to need a radical step-change in workforce productivity if they are to meet projected growth targets. This in turn will mean rethinking their approach to performance management if they are to compete effectively in what is increasingly becoming a two-speed global economy: Asia and the rest of the world.
Having relied heavily on the classic business improvement levers over the past few years such as cost cutting and setting aggressive sales targets, what new approaches should business leaders be adopting in order to drive a new growth strategy?
Strategic performance management sits at the heart of achieving sustainable business success. Global firms can only achieve the large-scale productivity uplifts they require by engaging their people. This means rigorously managing individual performance, and implementing a strategic performance management system fully supported by the leadership team.
To learn more about these issues and how leaders can manage business growth in the future, download the executive summary below - The business of performance management.
The business of performance managment
For global firms, the recent past has been marked by financial crisis, an unpredictable recovery
and persistent uncertainty. Looking to the future, the dominance of fast growing economies
leaves industrialized nations facing ever greater challenges to maintain a competitive edge.
Those that survived the economic crisis now need to shift gear – the race is on. More
Creating a culture of performance | Choc's & Co
To find out more about how one client took performance management to the next level read the "Choc's & Co" story. More
Becoming more customer focused | Royal Jordanian Airlines
Royal Jordanian Airlines needed to become more customer-foscused and agile in order to realize its strategic vision of becoming a leading global airline. More
Major utilities company | Middle East
A major utilities company in the Middle East wanted to make the transition into a modern business and contribute to wider economic and social growth. Hay Group helped make the connection between corporate growth and individual performance More