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.
One of the keys to success in benchmarking is connected to selecting the right benchmarking partners and learning from the best in class organizations. However, the process required in the selection phase is a very complex one which needs to have the proper time and resources allocated.
In a previous article, I presented the strategic plan of IFMA, the international association for facility management professionals that provides global level educational programs and conferences in the field.
Another strategic instrument is the Portfolio of Initiatives. Initiatives or projects are the ones that help managers close the performance gap between actual results and targets. Taking actions is the first step to improvement.
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.
