Key Areas To Aligning Performance To Corporate Strategy And Goals

It used to be that performance management was managed in one department. Today, performance management has spread throughout the entire organization, where almost every division must focus on performance management to some degree in order to be successful. Despite this wider range of performance management, enterprise-wide performance initiatives are not widely practiced. And without an enterprise approach, it is extremely difficult to align your performance to organizational goals and objectives.

According to software vendor SAS, a recent survey of 1100 businesses revealed that performance alignment was the PRIMARY benefit companies hoped to receive from their performance management efforts. Aligning performance to your organization’s goals and objectives is critical to your organization’s success. On the other side, lack of alignment increases inefficiencies and risks and prevents optimal execution of the organizational strategy.

Think of this scenario as a model for linking corporate strategy to business objectives:

The executive board collaborates high-level strategic planning and identifies goals for the CEO and organization. The CEO then meets with his/her senior executives who in turn develop objectives derived from the CEOs goals and integrates those goals into the strategic plan. In turn, those executives meet with their managers who develop objectives derived from the strategic plan, and so on. Then, each subordinate goal is tied to one or more goals of their manager. Ideally, the final result is that every tracked goal in the entire company can map back to a corporate objective developed by the board.

Chances of organizational success are greatly increased by translating each high-level objective into a cascading series of focused performance measures. Using our previous example, the CEO may focus on net cash flow while the CFO looks at debt-to-equity ratio. The controller may focus on liquidity ratio, while the accounts receivable manager looks at days sales outstanding, and the accounts receivable clerk worries about percent of collections over 30/60/90 days.

This article discusses aligning corporate strategy to four key areas: departments/ divisions, workforce, finance, and systems.

Departmental Performance Alignment

Departmental performance alignment can be difficult when business processes within an organization span across multiple business units and functional support groups. To avoid bottlenecks, finger-pointing, and redundancy of work, shared performance measures that align people across organizational boundaries must be identified and responsibilities accounted for. For instance, a performance measure that includes percent of collections over 30/60/90 days might be applied both to accounts receivables clerks and sales representatives, thus sharing and integrating performance measures, encouraging collaboration and boosting overall performance.

Workforce Performance Alignment

When workforce performance is aligned with corporate objectives individuals in an organization develop a stake in that organization’s performance. Employees at every level are measured by something they understand and control, and that same measure is clearly linked to the goals of their direct supervisor and the organization as a whole.

Financial Performance Alignment

In an economy where results need to be achieved fast and investor confidence is low, CFOs and finance organizations are implementing integrated performance management to improve information quality and visibility. One challenge organizations face aligning performance is finding financial measures that are meaningful to those responsible for carrying out the work. Using the previous example net cash flow is a critical performance measure for executives, but it probably means very little to the accounts receivable clerk who has no idea of how their contribution improves net cash flow performance. Stick with simple financial metrics that employees can understand and control.

System Performance Alignment

The IT/IS department’s role is to provide technical support for the entire organization. While we know that this alone is a complex task, today’s business model requires systems to not only support users, but to align technology to meet the business needs of the organization. Understanding business unit objectives and translating them quickly and accurately into IT priorities is essential today. So how does an organization measure how well their systems are aligned to organizational objectives? By implementing vehicles for aligning and measuring IT performance, such as service level agreements, performance-based contracts, and products and services catalogs to generate reports that illustrate how well they are measuring up to business objectives.

If you can move closer to aligning performance in these areas your organization will be well on it’s way to surpassing all of it’s goals and objectives. While the goal of a performance initiative is to align performance to organizational strategy, it is most important to maintain flexibility and adapt to organizational changes quickly.

About Victor Holman

Victor Holman is a business performance and growth strategy coach, consultant, international speaker, entrepreneur and creator of the Business Performance Portal. He has provided his expertise to over 50 government agencies worldwide and hundreds of corporations of all sizes. His goal is to help small businesses outperform their competition by applying business growth strategies and assessment tools that work for large, successful businesses.

He provides business consulting for small and large size organizations, business coaching, team performance workshops, and in-depth on-site business assessments for business owners trying to take their business to the next level. His highly acclaimed Insider’s Secrets Club delivers fast, simple, easy to implement strategies for growing your business fast!

You can access his FREE business assessment tools, business management kits, business training programs, videos, templates, and more at http://www.lifecycle-performance-pros.com

The Academy Of Business Strategy – The Closely Guarded Recruitment Secret

The recruitment industry has always been reactive by nature. This is not intended to be a criticism in any way, it is just considered to be convention within the industry. An employer advertises a vacancy, a candidate advertises their CV. Prospective candidates are forwarded onto the employer and prospective vacancies are similarly forwarded onto the candidate. This will invariably result in thousands of candidates applying for each individual vacancy and success is ultimately determined by the efficiency of each individual employer’s recruitment procedure. Candidates are always powerless throughout this process. The introduction of online job boards through the internet has only served to exasperate this problem. They tend to identify success in terms of quantity rather than quality. They will proudly advertise that they have thousands or even millions of candidates registered with them. They will also have hundreds or thousands of vacancies listed too. The implication being of course that if they serve this many customers then they must be good. Having said this, online job boards do provide an important service now within the recruitment industry. They provide portals where both candidates and employers can be introduced to each-other and the service which they provide is far more cost-effective than traditional offline advertising and in most cases they provide a more efficient service too. Unfortunately it does not really do very much to help candidates gain better employment and it is still rather like looking for a needle in a haystack. This is because the service which they provide merely ensures that more and more applicants apply to each individual vacancy. It is also widely accepted within the recruitment industry that any vacancy which we may see advertised is always a peripheral vacancy. What is meant by this is that they tend to be general vacancies which arise from prescriptive change such as expansion, or a merger or acquisition. The very fact that the organization does not have anyone in mind for this vacancy who could be promoted from within tells you that the vacancy is probably a peripheral one. Core vacancies are never advertised. The organization will already have internal candidates in mind for these positions and they are too important to risk employing a candidate who is considered to be an unknown quantity. Consequently core vacancies are always the ones we should be targeting. They are the vacancies which constitute power, influence and life-changing personal benefits. A senior manager or partner at a major financial institution, retail organization or manufacturing company will earn an annual salary amounting to several hundred thousand dollars for their services. A senior Director or Executive Officer at the same company will earn an annual salary amounting to several million dollars for their services. How many jobs do you actually see advertised with annual salaries that exceed 250,000.00 USD? There are traditional recruitment companies who practise what is commonly known as head-hunting, but these still tend to be for peripheral positions. The reality is that anyone who achieves a core vacancy within a major global organization will have developed and implemented a successful career management strategy over a sustainable period of time. It is quite literally the difference between success and failure. Recruitment companies and online job boards alike are already thinking of innovative ways in which they can provide better services. Improving online technology is to some extent gradually enabling them to do this. There are growing improvements in terms of the search engines that are used to pre-qualify candidates for employers and conversely to pre-qualify employers for candidates. However the more recruitment companies or online job boards which choose to move in this direction the more they will have to charge candidates and employers for the services they provide, whereas registration, particularly for candidates has been largely free of charge and candidates have grown accustomed to this of course. It is already clear that those recruitment companies who are starting to charge candidates for the service that they provide, tend to provide much better services. The old adage that “you always get for what you pay” tends to apply here. Ultimately these changes while providing some improvement in the professionalism of recruitment companies and online job boards over time will not change anything at all concerning the type of vacancies advertised. Advertised vacancies will always be peripheral. Candidates who have the most successful careers are always those who are proficient at managing their own career management strategy. It is true that we cannot all aspire to be the CEO of Microsoft, General Motors, HSBC Bank, or Mittal. But we can still ensure that we at least have the opportunity to achieve as much as we can with our careers and we will not achieve this if we are reactive by nature and if we do not take personal responsibility at some point for our own career development. After all an individual’s career development surely constitutes a core activity, not a peripheral one!

Confirm Your Credibility with Online Reputation Management Techniques

Confirm Your Credibility with Online Reputation Management Techniques

Creating a positive online image… With the advent of Web 2.0, the internet has become driven by web users who have in effect become the voice of your company’s online credibility.

In an ever increasing competitive marketplace, establishing, monitoring and maintaining your online credibility is becoming more important every day.

“If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends. If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”

~ Jeff Bezos, CEO of the Amazon.com

Your company, your brand, and your products and services are the potential subjects of positive feedback, attacks and rumors that are broadcast on the internet.

In this environment the success of the credibility of your company depends on effective monitoring and intelligence, meaningful analysis of the data, and when necessary, a well thought out crisis management strategy.

An effective Online Reputation Management program will have the expertise to successfully manage all of your strategic communication needs, providing your company with a unified and positive branded image. It will require understanding what it takes to achieve your companys online objectives; and by utilizing proper techniques, online reputation management can successfully manage your online reputation to help you achieve these goals . A properly executed reputation management program will have the knowledge and expertise across all marketing platforms to effectively make your company stand out from your competition, and organically grow your companys presence on all relevant internet search platforms. To achieve these objectives, companies can use some of the following professional services:

Image Creation
Online Branding
Reputation Management
Digital Advocacy
Crisis Communication

Advanced Marketing Solutions is happy to provide you this information and if you have any questions or want to learn more, be sure to see our website at: www.valuedreputation.com .

How Social Media Advertising Is Changing The Means Massive Brands Promote

We no longer dwell in a world the place our opinions are not often heard. We now live in a world where anybody with a linked system can have a voice. Developing a social media (http://www.protopage.com) presence will not be solely essential for immediatelys companies, but could possibly be the distinction between differentiation and demise.

Weve added three widespread social media advertising chats into the combination, that whereas we should not have stats on, we highly advocate as participating business conversations. Blatant advertising and marketing tends to fail inside social media networks. Join these networks to make buddies and, in time, you will notice your business develop. One other facet of the social sickness affecting the Data Know-how (IT), Social Media Advertising (SMM) and Cloud Computing sector is the interview process for African Individuals. Lets take a look at how to combine social media and electronic mail advertising and marketing. #1. Turn fans to e-mail subscribers with contests and sweepstakes

Providing your viewers a sneak peek into an upcoming occasion comparable to a convention or webinar is an fascinating strategy to direct their attention towards it. This may be achieved by posting snippets concerning the event or capturing behind the scenes moments to assist viewers connect along with your event. This advertising technique is an efficient way of giving your viewers a way of involvement with the upcoming occasion and establishing a viewership for the ultimate event. Hats off to Digg; they gave me loads. A whole lot of pageviews, a variety of publicity generated by way of social media, a lot of money, and among the greatest friends on the planet!.

Top executives need to be concerned in social media. 77% of consumers say they’re extra possible to buy from a company whose CEO makes use of social media. ninety four% mentioned C-suite social media participation enhances a model picture. And eighty two% of workers say they belief a company extra when the CEO and leadership crew talk by way of social media. ( eMarketer ) Consumer Expertise 3)Constant Model Image Using social media for advertising allows your online business to project your model image throughout a variety of completely different social media platforms. Whereas each platform has its own distinctive setting and voice, your business core identity ought to keep constant.

Your blog is a platform. So is your YouTube channel, your podcast, Slideshare account, even a webinar could possibly be considered a social media platform. To succeed with social media platforms, you need to create unique, beneficial content that addresses your ideal customers largest pain points. To succeed with social media networking, youll need to develop a compelling profile, listen to your audiences conversations and considerations, and above all, present value. Youll also need to influence your perfect customer to leave their social media channel of selection to visit your web site the place you possibly can discuss enterprise. Managing your time and expectations.

Employment opportunities embody social media advertising and marketing specialist, social media coordinator, social media analyst, and social media strategist positions in varied industries. Social media often feeds into the invention of new content akin to news stories, and discovery is a search activity. Social media may also help construct hyperlinks that in turn support into SEARCH ENGINE OPTIMISATION efforts. Many individuals additionally carry out searches at social media sites to find social media content. Search & Social Media Advertising Information, Methods & Ways As I think about the traits in social media so far this yr, Ive compiled an inventory of my predictions as to where were headed as we inch towards 2014.

These are only a few ideas for advertising your small enterprise utilizing social media. Theres a lot more and some of these social media websites have methods to promote your small enterprise for a payment. You willpositivelywant to take the time to incorporate social media advertising in your finances and this chart will show you why. Social media advertising and marketing can be top-of-the-line investments you have ever made, so remember to choose properly. The Digital Marketing Series is supported by HubSpot , an inbound advertising software program company based mostly in Cambridge, Mass., that makes a full platform of promoting software program, including social media management tools.