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A good performance management system goes beyond setting annual targets that manager and employee meet to discuss once a year. Three business leaders discuss how they apply performance management to their industries.
David Norton, one of the fathers of the widely used Balanced Scorecard, outlines five major challenges performance management systems must overcome to remain effective.
Charles Tilley, FCMA, CGMA, meets with Richard Solomons, the CFO-turned-chief executive of InterContinental Hotels Group, who offers insight on brands, people and delivery.
A simple approach to performance-based compensation calls for giving employees a limited number of goals linked to a firm’s strategy and basing their bonuses on the extent to which those goals are achieved. The compensation system calls for owners as well as employees to have their bonuses linked to performance.
A recent US survey shows a disconnect between CFOs and workers on the effectiveness of performance reviews, a view that appears to be shared by the global workforce. Reviews may be seen in a negative light, but they can have meaning, especially if the supervisor giving the review follows these five communication tips from experts on two continents.
We asked Albert Birck, the head of performance management for Maersk Oil, and Roger Blanken, CPA, the vice president of finance – supply chain, for International Flavors & Fragrances (IFF), to explain how technology, better planning, and communication about performance can unlock hidden potential.
Alasdair Macnab, FCMA, CGMA, has reengineered the Balanced Scorecard to create a system for measuring the HR and financial costs of meeting strategic objectives. Macnab explains the approach and how it can be used to make good decisions about allocating scarce resources.
As their best-known creation turns 20, Robert S. Kaplan and David P. Norton, the founding fathers of the world’s most powerful performance management tool, survey the horizon and offer five key steps for maximising the Balanced Scorecard.
Accurate and appropriate definition of KPIs is vital for the effective use of Balanced Scorecards, argues David Parmenter. Here are six ways to adapt and apply the BSC model to the contemporary business environment.
Forget China’s old image as a low-cost manufacturing base. The country is now a burgeoning market for high-end Western goods and services. The Daily Telegraph’s Beijing correspondent Peter Foster charts the challenges and opportunities ahead.
