Managing the Performance of Your Organization!
Performance tracking and measurement represent the highest value in operational methods for productivity improvement in your organization! Through a complete understanding of organizational strengths and weaknesses, your HR department will be readily capable of identifying areas of concern that require immediate attention, and will have the ability to provide assistance with continuous improvement.
According to the latest PricewaterhouseCoopers Business Insights Pulse Survey, more than 84% of Canadian companies are currently working to improve their productivity, but only 56.1% actually employ solid metrics for tracking their performance! Many organizations focus on financial metrics, which can make it incredibly difficult to ensure that all strategies are aligned properly.
So how can your organization use productivity measurement and tracking? HRdownloads will provide you with actionable insight into the best ways to implement these standard metrics into your organizational business plan.~
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Action Plan
- Determine Productivity Goals - Will your organization be focusing on short-term, long-term, sustainable, intermittent or continuous improvements to productivity? Establishing a defined commitment to productivity improvements may go a long way to the creation of a well-conceived program.
- Focus On What You Can Control – To make real improvements, you need to start with processes that are immediately under your control. Define your levels of success, and desired impact before starting. Being able to single out a specific target for improvement will help you determine the levels of success, what worked, what didn’t, and then apply those lessons to the next set of projects. HR Downloads provides easy to use calculators for measuring the following metrics that tie-in directly to performance management, productivity and human capital:Cost of Absenteeism, Total Cost of Turnover ,Vacancy Rate and much more.
- Make Performance a Company-Wide Initiative – Communicate the need to make performance and continuous improvement a full-time initiative, where everyone pitches in. Make the expectations clear to departments and to individuals, and then reinforce the program with directives, assistance and incentives. When employees and their departments are provided with goals and incentives, and made aware that their performance levels are being measured, their desire to out-perform expectations increases. Be sure to communicate the current levels of performance, and provide an explanation for specific areas of improvement.
- Examine Your Resources – Conduct regular audits to ensure that your allocation of human resources is best suited for the job at hand. By performing audits on job descriptions, you may find redundancies for positions, out-dated requirements, and shifts in the demands of that position. To reach peak-performance levels, you need the right people in the right positions.
- Determine Appropriate Measurements of Success – Declaring a company-wide performance initiative will have no meaning or structure without the proper metrics to measure your success. Ensure that the proper measurement tools are in place, with the resources and program management capability required to make them successful. Remember that if you can’t measure it, you’re probably wasting your time trying to improve it.
- Implement - Once your metrics are measured and your information is fully analyzed, it’s time to put your new knowledge to work. Effective tools drawn from metrics can ensure the effective use of all resources, engage the most productive employees, retain customers, attract and retain the proper employees, increase productivity, cut labour costs, provide direct links between performance and rewards, and increase overall shareholder value. Most importantly, these tools can and will identify the value of HR operations and initiatives, and improve the overall productivity of your organization.
- Ensure Sustainability – Improvements to performance must be ongoing, and sustained across time. If your program meets the specified goals, that shouldn’t mean that the job is done, and the employees can slack off! To ensure a long-term commitment to performance, your organization must be ready to provide effective management on an ongoing basis.
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Final Thought
Measuring performance and productivity is crucial to human resource management, as it will assist with the organization of your workforce to ensure efficacy, and provide the tools necessary to identify areas of potential growth.
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