Performance management program
The question "How should managers be paid and how much?" is inextricably linked to the question "What should managers be rewarded and how can the results be evaluated?". We offer assistance in creating and updating performance management systems for top management, from process tuning and responsibility sharing to translating strategic goals into a set of specific indicators and building KPI libraries.
Most of the changes in the process of top-level performance management are usually not only analytical tasks, but also political:
- providing an objective and clear assessment of the top managers' performance;
- stimulating the level of motivation of the top team by combining quantitative and qualitative indicators;
- increasing the efficiency of team interaction by introducing team-wide performance indicators;
- attracting new expertise;
- helping the company compare itself with its competitors and determine its own position in the market.
1. Diagnosis. We analyze the current performance management system, discuss customer expectations, and set tasks. Depending on the specifics of the situation and task, we can build our work around the existing strategy, the specific tasks of individual managers, and the shareholders' vision.
2. Research and analytics. In order to obtain the most complete and relevant data for the development of key performance indicators, we use our own experience and academic research, engage industry and functional experts, and professors from leading business schools, and conduct comparative studies of the best practices in comparable Russian and international companies.
3. Description of the performance management process. Together with the client, we describe the approach to performance management and the process of setting objectives before evaluating the result and its impact on managers, and recording the distribution of roles and responsibilities for each of the elements of the process. In addition, we usually facilitate a discussion where all the participants agree on an equal understanding of their responsibilities and authorities in the process.
4. Creating KPI libraries/KPI development. Based on the obtained data, we develop key performance indicators and corresponding financial models as well as a road map for their implementation.
5. At the end of the project, we can facilitate the discussion sessions and help to implement the road map.
Ward Howell expertise
- Our team consists of industrial and functional experts, giving us a deep understanding of the context and challenges of both the industry in general and the individual client.
- Ward Howell conducts its own leadership research and participates in global projects with INSEAD Business School, which allows us to track the latest trends in performance management. We have authored several business books and numerous scientific publications. To ensure our projects are successfully realized, we also engage leading experts in methodology and implement our modern technologies of building corporate performance management systems.
- Our high standards of internal processes, daily contact with company executives, business owners, and Board members, as well as an updated knowledge base guarantee fast data retrieval, accuracy, and depth.
- We strive to ensure that our company, projects, and practices have a positive impact on the future and create long-term results for both our clients and Ward Howell.