Performance Management For Dummies

Chapter 1

Introducing Performance Management

IN THIS CHAPTER

Using performance management to create a competitive advantage

Making performance management work

Designing and implementing a performance management system

The organizational success equation is quite simple. Organizations that have more and better resources are more successful compared to those that don’t. This applies to large corporations, small start-ups, not-for-profits, and to organizations of every size and in every type of industry.

Here’s the complicated part. In today’s globalized and hyper competitive world, it is relatively easy to gain access to the same resources as your competitors — particularly when it comes to technology and products. For example, most banks offer the same products such as different types of savings accounts and investment opportunities. If a particular bank decides to offer a new product or service, such as an improved mobile phone app, the competitors offer precisely the same product.

But, a key differentiating resource is people. Organizations with engaged, motivated, and talented employees offering outstanding service to customers and coming up with creative ideas pull ahead of ...