| Performance management scorecards and | | | | during the scoring process. Although financial measures |
| dashboards can be very useful to a company as they | | | | are extremely important, a successful company will |
| work towards their strategic goals. The use of | | | | also focus on things such as customer satisfaction, |
| scorecards can help a company determine if they are | | | | efficiency, employee growth and development, and the |
| working effectively, since they focus on measurable | | | | overall efficiency of internal operations. The true |
| actions within the company. This technique is generally | | | | measurement of performance success is generally a |
| most effective when it is implemented from the top | | | | combination of all of these factors. It is important to |
| down, starting with the high level and long-range goals | | | | understand all the factors that can affect a scorecard. |
| of the board of directors. Once these targets and | | | | These include environmental influences from outside |
| measurements are set, it becomes much easier to | | | | the company, such as government regulations, as well |
| determine what performance measurements should | | | | as internal organization influences, such as policies and |
| be set and worked towards throughout the rest of the | | | | procedures. It is also important consider group and |
| organization. | | | | departmental work processes and individual factors |
| Review and Feedback | | | | such as skills, personality and management styles. |
| The review and feedback process is an integral part | | | | Determining Targets and Objectives |
| of the performance management process. These | | | | Setting appropriate targets and objects is an integral |
| review sessions can provide the perfect forum for | | | | part of the performance management scorecard |
| discussing issues, brainstorming solutions, and adjusting | | | | process. It is important to fully understand the |
| goals and actions in order to better meet individual and | | | | relationship between the objectives and the |
| corporate goals. This process can facilitate an | | | | measurements that can be used to gauge success. |
| environment of continuous improvement throughout the | | | | Goals should always be measurable, specific, and |
| organization. | | | | have a set time frame. These goals should also be |
| Measuring Different Kinds of Success | | | | realistic, achievable, and agreed upon in advance. |
| It is important to keep all forms of success in mind | | | | |