Aligning people’s performance to the strategy makes the strategy execution process more complete. Personal Balanced Scorecard translated your long-term ambition and values into short-term manageable, measurable, and concrete actions in a balanced way. The personal scorecards are aligned with a balanced scorecard to ensure organizational alignment.
It entails the related personal objectives, measures, targets, and performance. A personal Scorecard has two main components, one is personal objectives and another component is a set of competencies. Personal Objectives are linked back to the strategy and a set of competencies that allow the individual to better accomplish their objectives. Define Personal Performance by calculating Individual performance, Team performance, and 360-degree performance.
Personal Objectives are the actions used to see the improvement in our strategies that really an organization is trying to achieve. Personal ambitions must be linked with Personal Objectives. Personal objectives describe a result of personal ambitions in order to achieve them. In the implementation of the balanced scorecard, the first step is creating “Personal Objectives”. The purpose of Personal Objectives is to convert the vision and mission into specific, measurable, timely performance targets.
Personal Measures that either drive performance (drivers) or reflect performance(outcomes) within the strategic action cycle (typically quarterly). Personal Measures describe internal activities that can be acted upon by the organization. After determining Personal objectives, one needs to identify measures to know the performance of the personal objectives.
Personal Measures can measure the performance of personal objectives, without measures and targets, it is difficult to direct yourself with others’ feedback. Managers can measure individuals’ performance in time and gives feedback information about performance.
Personal Targets are the quantitative objectives of personal performance measures. Managers can maintain specific deadlines for achieving personal objectives and ambitions.
Link Personal Objectives to Employees:
Once personal objectives and measurable performances are set up link Personal Objectives to the individual employees to give actual performances of individuals. The owner can feed data employee-wise on a month-on-month basis. Finally, we can generate individual employee performance at the organization level by generating data on employee performance.
Team Performance involves recurring activities to establish goals, monitor progress towards goals, and make adjustments to achieve those goals more effectively and efficiently. In Team, performance defines Team Objectives and Team Measures as personal objective and measures and then link team objectives to teams.
Team Objectives are the actions used to see the improvement of our team strategies and what really organizations are trying to achieve. team ambitions must be linked with Team Objectives. Team objectives describe a result of Team ambitions in order to achieve them. In the Implementation of Team ambitions, the first step is creating “team Objectives”. The purpose of Team Objectives is to convert the vision and mission into specific, measurable, timely performance targets.
Team Performance Measures are standards to measure the progress of Team Objectives. With these measures, we can measure your operative in relation to team governance. Without team measures, it is difficult to measure the performance of Team Objectives. Team Measure targets can set deadlines for your performance measures.
Link Team objectives to Teams:
Link Team objectives to the Teams to measure team performance with ambitious team objectives. These team objectives are the results of team objectives. After defining objectives & Measures and linking them to teams, the team owner can give scoring to the measures on a month-on-month basis. Finally, get the team-wise performance to the organization level.
You also can give the score based on the probability of success of process optimization. You can give score 1 if the probability of success is low and score 5 if the probability of success is very high.
360-degree Review Performance:
360 Degree Review is a performance assessment tool that asks for feedback about an employee from all directions: their manager, Team, Peers, Subordinates, and direct reports. It seeks to provide actionable feedback to employees and gives them a better understanding of their contribution to an organization. Here we get the performance score.
The final set of personal scorecards is generated as ‘Total Personal Performance’. After defining all scorecards in individual performance, Team performance & 360-degree reviews we will get individual employee performance scores. These scores will help to generate incentives for the employee.
The consolidated performance of the people can be used for incentives, promotions, and motivation purposes. This methodology ensures that the people are aligned to the strategy by top-down and bottom linking.
fruiStrategy empowers you to execute strategies consistently by linking strategy plan to strategy execution and aligning the whole organization’s actions towards the strategic direction. You can establish a robust strategy execution process empowered by plug-and-play modules to achieve overall organizational transformation in a systems driver approach.
Please contact Shaik Abdul Khadar, Strategy Management Expert at [email protected] or +917799798333 for a quick demo or more information.