These organizations realized a rapid return on investment in their programs by taking advantage of the key benefits offered by performance management:
1. Improved Process Design - Driven by:
- Advanced transactional analytics to analyze key processes including First Contact Resolution, Customer Journey sales performance, and contact profiling
- Predictive analytics to complete rapid root cause analysis
- One version of the truth to measure and improve cross departmental coordination
- Detailed modeling to predict incentive compensation plan cost and likely impact
2. Increased Front Line Employee Productivity and Revenue Generation - Driven by:
- Increased self-correction through frequent viewing of performance data
- More effective variable pay and incentive programs
- Increased coaching time and effectiveness of Supervisors
- Increased sharing of best practices from top employees to developing teammates
- Retention of staff as a result of transparent objectives and improved supervisory management
3. Increased Supervisor Effectiveness and Efficiency - Driven by:
- Reduction in administrative activities, such as data gathering for coaching or performance appraisals
- More efficient and impactful employee coaching due to availability of individual performance data and historical coaching and training context
- Manager and director transparency into Supervisor performance and effectiveness
4. Improved Analyst Performance - Driven by:
- Substantial time savings due to automated data integration and cleansing
- Business-driving insight resulting from focus on analytic tasks vs. repetitive report generating tasks
- Improved strategic decision making from - "one version of the truth"
- Identification of and focus on true business drivers and metrics - not just data that is easy to access
- Reduced errors and rework
5. Greater Executive Impact from Culture Change - Driven by:
- Ability to ensure complete organizational alignment with critical initiatives and goals
- Focus on the meaning, rather than the accuracy, of the data
- Performance-based environment without subjectivity or perception of management bias; a culture of accountability
- Transparency into performance of the business, across all roles and departments
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