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Retention Management And Metrics

Employee Turnover And Retention Briefings Abstract: 22

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Performance Management Misconceptions [DM Review] Friday 02/27/04 2:53 PM

1) Performance Management isn't new. It may be going by new buzz names, but its goal of aligning employees with company goals and objectives is not new.

2) You don't need new technology. You already have the information you need for performance management. Use that information to connect employees to goals.

3) Balance Scorecard is not the answer. It's hard for many companies to fit all of their key objectives into the 4 main pillars of Balance Scorecard.

4) Most teams are not clear on Key Performance Indicators (KPI). Key performance indicators need to be looked at in context not just as a set of data. For example don't just look at the number of new customers, look at the number of new customers versus plan. KPIs require context to determine how they fare relative to corporate goals.

5) A new Planning System won't solve your problems. You need to also have good processes, methodologies and a way to link high level objectives with strategic goals and metrics.
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