Solutions

Performance Management System

The path to a successful company

Performance management system will provide your company with an important tool that will enable to project the corporate strategy into its results. An integrated performance management system will enable to define and assess performance of the staff and to align the results of workforce performance with remuneration, training and workforce development plan. Deloitte owns a webenabled tool called TalenTracker that links Performance management with Management by Objectives and Competency Management.

When to consider Performance Management System

  • The corporate strategy is not communicated, employees do not have an overview of the strategic priorities of the company
  • Performance goals are not aligned with the managers’ goals and department’s goals
  • Missing motivational tools that would promote team work and responsibility of employees for the performance of their team, business unit and whole organization
  • Competencies in the competency model are not aligned with the vision and strategy of the organization
  • Competencies are described too generally, it is impossible to observe the described behavior and thus measure
  • Company is missing a tool that would differentiate staff according to their performance and that would enable the organization to differentiate their approach to different segments of employees
  • Performance management system covers only a selection of business units in the organization

Benefits of the Performance Management System

Performance management is one of the basic requirements of competitiveness and success of an organization; effective set up of the performance management system enables to:

  • Manage performance in line with the corporate strategy
  • Plan training and development activities that correspond to the needs of the organization and needs of staff
  • Segment staff by their performance, reach desired behavior and be able to differentiate care to different staff segments (e.g., motivation, retention of high performers, pressing for and influencing low performers, help growth and development of middle potential performers)
  • Calculation of performance compensation that is subject to performance
  • Revaluation of compensation during enterprise pay adjustments

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