Today’s companies are striving to get the highest results with the least amount of effort. They strive to gain profit in a simple translation, with minimum expenses. But many enterprises forget one important aspect that differentiate companies which have strong financial performance from the ones which don’t: a strong organizational culture. Yes, having high quality low cost products, processes put in place, engaged and skilled employees is important, but these are outcomes of having a culture of performance.
The City of Tacoma’s operations are constantly under track, in order to provide its residents valuable services 24-hours a day, seven days a week. The results of its performance are made available to citizens, to keep them informed about the effectiveness of the City’s programs, about the way tax revenues are being spent and about the progress toward the City’s goals.
Tacoma 24/7 is a quarterly report on 24 indicators the City monitors in 7 key service areas: Public Safety, Infrastructure, Community Services, Economic Development, Convention, Visitor & Arts, Sustainability, Open Government.
One of the most pressing question regarding top management is “how much a CEO earns per year?” This may vary from thousands to millions of dollars ranges, depending on the industry and the resources a company allocates.
In many organizations, making sure they justify their CEO’s payment is a priority which can be seen in the annual report. For example, in Rio Tinto’s annual report, they devote almost the same amount of space to explaining the remuneration schemes for top management as they do accounting for performance.
The Boston Foundation, the City of Boston and the Metropolitan Area Planning Council are the three entities which coordinate the Boston Indicators Project, which is aimed at improving Boston’s performance as a local administration.
Performance management systems are often associated with the urge to control and penalize underperformance. Despite the general employee perception regarding this matter, the main roles of performance management systems are totally different:
