How to use Performance Management tools?
In the multitude of Performance Management tools available to be deployed across organizations, managers can become confused, while trying to identify what tools to use, when and how.
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In the multitude of Performance Management tools available to be deployed across organizations, managers can become confused, while trying to identify what tools to use, when and how.
Humans are highly visual creatures. This allows for a higher understanding of data and enables managers, for example, to make quicker, smarter decisions. Looking back thousands of years, cavemen used visuals to, for instance, track time, record celebrations and other such activities.
Designing an individual graph may prove difficult to a certain extent. The degree of difficulty increases considerably when faced with the challenge of designing a dashboard. This is because a dashboard combines a large collection of information, often dissimilar, which can easily become cluttered.
Competencies and behaviors are different concepts, yet one can influence the other and vice-versa. However, they are to be analyzed separately when they represent decisional factors for an employee’s performance.
Every company has a strategy regarding the objectives they want to achieve, but the difference between a successful and an unsuccessful strategy lies in the steps that are taken when formulating the strategy, more specifically in the first step, the external analysis. In order to facilitate this process, organizations can deploy a number of tools to perform an external analysis thoroughly.
1. SWOT
It is an acronym for Strengths, Weaknesses, Opportunities and Threats. Strengths and Weaknesses are used for the internal scan of the company, while Opportunities and Threats are part of the external scan. By analyzing the external environment, the company can better focus its internal resources to reduce the threats and capitalize on its opportunities.