The Top 5 Performance Management Tools
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Summary of a report that looked at the state-of-the-art in performance management. It identifies the top 5 tools used today to manage performance and adds some words of advice.
Transcript of The Top 5 Performance Management Tools
- Performance Management Top 5 ToolsBy Bernard Marr
- Organizations have long been obsessed with managing and measuring performance and there is little sign of this easing up.
- A recent global survey of over 3000 organizations found the top tools used today to manage performance.
- Top Tools 1. Key Performance Indicators (KPIs) 2. Performance Appraisals 3. Mission and Vision Statements 4. Management Dashboards 5. Lean Management 6. Benchmarking 7. Balanced Scorecard (BSC) 8. Reward and Recognition Schemes
- KPIs: Most companies use them, but few use them well. Make sure you measure what matters
- Performance Appraisals: 60% of companies use them, but (again) few use them well. Make sure the process is trusted, fair and transparent
- Mission & Vision Statements: Over half of companies use them, but (again) few use them well. Make sure they clearly spell out the purpose and ambition
- Management Dashboards: Over half of companies use them, but (again) few use them well. Make sure they communicate insights and not just data
- Lean Management: About half of companies use them, but (again) few use them well. Make sure you optimize what matters the most, not what is most easy to do
- Read my recent Blog Post on the topic: https://www.linkedin.com/today/post/article/ 20140522054403-64875646-the-5-most-popular-tools- to-manage-performance-good-news-and-cautionary- tales?trk=mp-author-card
- Download the full report 20 Years of Measuring and Managing Performance: From KPIs and Dashboards to Performance Analytics and Big Data at: http://www.ap-institute.com/research-reports.aspx
- About This overview was put together by Bernard Marr Founder and CEO of the Advanced Performance Institute. Bernard Mar is a bestselling business author, keynote speaker, strategic performance consultant, and analytics, KPI & Big Data guru. For more articles, white papers, case studies and much more visit the Advanced Performance Institute Knowledge Hub Read Bernards blogs: LinkedIn Influencer Blog Big Data Guru Blog Connect with Bernard on: LinkedIn Twitter Facebook Google+ YouTube Advanced Performance Institute