Companies decide to set the performance management system due to the need of achieving corporate goals more effectively, creating an effective performance reward model, improving management continuously, and achieving the goals set.
The objective of the project is to set the performance management system so as to link a company’s objectives with the goals of individual departments and with individual objectives as well. Properly linked objectives, motivating and, if met, properly rewarded, will help meet the company’s strategy.
Our Corporate Performance Management (CPM) methodology has been developed to ensure effective support of the company‘s strategy by managing objectives up to the individual level. Within employee performance management projects, we use several current procedures, such as Balanced Scorecard (BSC), Management by Objectives (MBO), Management by Competencies (MBC), or simpler Key Performance Indicators (KPI) systems.
By using our methodology, specific features of individual companies can be taken into account, so that the performance management set respects the current situation within the given company. For example, it is unrealistic for some companies to implement the BSC system, but the MBO system may be the optimum solution for them in current conditions. In contrast, for other companies, it is optimal to create a combined performance management model that is based both on BSC and MBO. By setting performance management effectively, the company obtains a direct and controllable tool to achieve the goals set.