Performance Scorecard
The performance scorecard is a visual representation of the growth process of a firm, a business department or an individual employee with the aim of measuring the set goals. The performance scorecard may be described as a chief element of the balanced scorecard (BSC) methodology. Besides, it can be adopted solely to monitor the pace of any organizational goal.
The data and raw materials are turned into meaningful scores for “Competencies” and “KPIs” which finally leads to the performance measurement, by means of specific metrics.
Therefore, the heart of performance measurement is monitoring the data & scores via an analysis -friendly system. By means of Corvisio Performance Scorecard, all KPI’s and measurement metrics are collected at one screen. Corvisio Performance Scorecard is precisely designed as a mix of ‘KPI scorecard’ and ‘list of core values’ in order to use with the balanced scorecards as a strategic management system.
Please check below examples of performance scorecard templates designed for the best results:
Corvisio Performance Scorecard helps to gather the performance elements such as Competencies KPIs and Core Values on one sheet. By means of that, it becomes easier to follow the goals and all employees can achieve success in a systematic way.
With the Corvisio Scorecard monitor your competencies on one screen
Corvisio Performance Scorecard template collects the core, functional and managerial competencies at one glance.
Corvisio Performance Scorecard Main Features
Corvisio Performance Scorecard helps to gather the performance elements such as KPIs, core values and Competencies Scores on one sheet. It becomes easier to follow the goals and all employees can achieve success in a systematic way. Corvisio Performance Scorecard collects the basic, functional and managerial competencies at one glance.
Performance Competencies refers the essential values a firm chooses as the most elemental skills or distinctive facts of an employee should have to do business efficiently. Competencies may occur precisely to a company and core competencies may develop with in time. In various employee scorecard examples, core competencies are determined with a general concept, valid to the whole organization apart from individual skills or responsibilities.
On the other hand, functional and managerial competencies may differ according to the job titles, responsibilities or nature of the teams. Functional competencies are directly related to specific duties, job descriptions and the general succussion of them. Naturally functional competencies are determined peculiarly for the industry, department or the job type itself.
Assessment of KPIs
KPIs are key performance indicators that organization set to use the right scopes for the performance processes. Companies, employees, departments and processes may have many performance indicators. At this point, KPIs vary from one organization to another. Net revenue may be a typical company KPI; whereas unemployment rate could be a standard governance KPI. In well-designed scorecards, KPIs are represented by icons.
Performance scorecards are often approved as “a visible answer” to the operation of processes. Tracking the success metrics according to the requirements within an exact timeframe can be hold with simple and practical scorecards. Considering that you are creating an employee’s scorecard, it is necessary to include the most elemental issues and the most vital success indicators. Some KPIs may be used commonly across departments. For instance, “employee satisfaction” KPI can be assigned to other executives as well, apart from human resources management. As another indicator, “customer satisfaction rate” can be assigned to sales department, marketing department, quality check, shipping, logistics or senior level executives. Cascading of KPIs is another method to use.
Company or department projects also effect performance scorecards in order to determine the key performance indicators for the next quarters or year. These can be identified as “project KPIs”. For instance, specific employees may be responsible of a SAP transition project; hence unique criteria and dates can be identified for the success of that project, specifically to these employees.
Visualize The Measurement of KPIs with
Corvisio Performance Scorecard
Individual performance scorecards gather the most meaningful projects. Considering the company and department strategies, the major process making the most meaningful difference can also be added to the individual performance scorecard. This is also good practice because the follow-up and accountability of the project becomes solid. Topics can be divided into the most important numerical metrics and project objectives.
Thanks to the Corvisio performance scorecard templates, the data on the department basis can be monitored and regular progress becomes trackable via the scoring system. These scorecard templates in a way represent ‘KPI scorecard examples’ as well. Moreover all of these combine o whole measurement system for balance scorecards as well.
Businesses need KPIs to boost employee’s performance while achieving their goals. On the other hand measurement of KPIs should never be considered as “punishing”. Good performance should be appreciated within the KPIs and development factors should be identified and assisted as well. Professional Management Consulting services may be beneficial for identifying KPIs in order to take a fairer approach, provide motivation and implement the system of recognition and reward.
In order to visualize the process the KPI measurements should result with a letter or a score. Grade system with letters are used in well-designed applications such as Corvisio performance scorecard template. “A” is outstanding performance, “B” is above expectations, “C” is at expectation level, “D” is open to improvement and “E” is poor performance.
The main target of a company should be achieving the “strategic goals”. Within the scope of that distinctive individual performance indicators should be identified such as “If our company’s strategic goals are X, I can do Y as a difference maker.” Employees can also achieve these strategic goals providing the relevant competencies. Hence there is room for improvement, the executives should recognize of it. As a result, competencies need to be tracked in addition to KPIs and competence levels also must be evaluated. On the other hand, simple or basic performance indicators may decrease the quality of measurement. Usage of challenging and growth-oriented KPIs should be encouraged.
Corvisio performance scorecard templates simplify all of these measurements for KPIs and competencies as a whole. All performance indicators can be monitored at one page clearly. Design of the scoring system helps executives and HR managers for using the balanced scorecard as a strategic management system.
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