What is a Performance Management Hub?
Posted on Tue, Aug 17, 2010
Performance management includes activities to ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product or service, as well as many other areas.
The problem is that most organisations only pay lip service to Performance Management. That is to say that even if they have some form of Performance Management it is not widely known in the organisation and only a few people have access to it. In other words it is not transparent. In a survey of top businesses conducted by QlikTech in the UK it was found that only 12.7% had implemented a 'Transparent' Performance Management system.
The benefits of Performance Management are very well known and are particularly relevant in difficult times. Getting everone in the organisation involved in measuring the impact of decisions on the relevant metrics and seeing the effects immediately is clearly beneficial - it just needs decent tools to allow this to happen rapidly and without too much expenditure.
So how to get started - well one way might be to set up a cross sectional group say between Finance and Operations, decide on relevant metrics that can measure the impact of different decisions on the overall company performance, get the data and build a dashboard using QlikView then start monitoring performance on a daily basis as the data changes. This could be known as a Performance Managemant Hub.
A Performance Management Hub - also known as a Business Performance Hub (BPH) requires three fundamental ingredients:
1. A team of motivated, accountable people
2. An enabling technology which promotes accountability through visibility
3. And a fast, straightforward method of implementing improvement projects.
Gartner, QlikView, Accountancy Age and Financial Director are teaming up to deliver the latest thinking in Performance Management at an exclusive one-day event. The free presentation will enable selected leading organisations to unlock the productivity potential in their workforce and change behaviour by implementing a Business Performance Hub. Register now to attend this event.