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Corporate Performance nowadays encompasses more than just financial reports. An organization’s health exists from a wide array of factors, including social responsibility, reputation, and employee morale. How should organizations keep their employees informed about so many different metrics?
Too little internal communication about corporate performance has a multitude of negative effects, limiting employee productivity.
Employers think of performance management as a measurement exercise, while it should be about feedback.
Tech like a CPM will help keep track of corporate performance – but it won’t do the job for you.
Without transparency, evaluating performance can fuel insecurity or even mistrust.
Unclear goals make it difficult for employees to optimize their contribution to the organization’s performance.
Instead of relying on annual reports and performance evaluations, make it a continuous process. Report and evaluate throughout the year, so everybody knows how the organization performs and can act accordingly.
Make employees aware of what really matters. By continuously showing what drives the organization and what factors are used to evaluate individuals, you create transparency and trust.
Anyone can deploy Microsoft Power BI or Google Data Studio and add data to it. To make this data valuable, you must first interpret, filter, and qualify the data with care. You need to transform the data into information.
Give exposure to accomplishments, both large and small. By celebrating individual success, you will inspire employees to optimize their contribution to the collective goals and corporate performance.
When a team at Brooklyn Hospital Center does something noteworthy, everyone on staff will know about their achievement. This makes the team feel appreciated. This way of celebrating good performance has an immediate ‘Boom, make them feel good’ effect.