mba699_perfmeasurement

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Feb 20, 2024

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Performance Measurement 1 Brian Nossokoff MBA-699-Q2843 Strategic Opportunity Mgmt 23TW2 8-1 Memo: Performance Measurement January 31, 2024 Dr. Robert Shindell

Performance Measurement 2 Performance Measurement In any business transaction it is very plausible that employees leave in the process of change. To thwart this, we must establish goals that can help mitigate the impact of representatives exiting the organization. One way we can do this is by establishing SMART goals, SMART stands for Specific, Measurable, Achievable, Relevant and Time-Bound. This method provides the road map for an organization to achieve its goals. The two objectives that should be of paramount importance to ensure a smooth transition are: improving staff training opportunities where all staff are afforded at minimum ten opportunities a piece to advance their knowledge prior to the transaction finalizing and improving employee engagement by fifty percent prior to the business transaction finalizing. To do this, we can implement key performance indicators (KPIs) to track the success of our vision, but it is imperative that we have a clear-cut strategy and our KPIs be linked to that (Cox, et al , 2003). One KPI that can be used to align to assess the success of the training within the organization is training return on investment (ROI). Once the cost of training has been calculated after training, it is important to assess metrics such as number of calls, emails, or inquiries in a day, as well as customer satisfaction ratings (or Net Promoter Score) and others. The question, in the end, will be do these aspects have a positive ROI? If they do not, it’s something to abandon immediately. To align with the second goal, though it could be argued that measuring the absenteeism rate per department can be a good measurement of disengagement among employees, measuring productivity levels should be the metric that is focused on to determine how successful the organization is in engaging its employees. It has been well proven time and time again that there is a positive relationship between employee engagement and organizational performance, and

Performance Measurement 3 furthermore the more engaged that employees are, the more likely the employer will exceed the industry average in revenue (Markos & Sridevi, 2010). To accurately assess the indicated KPI’s, it is important to have the appropriate information. Based on the employee engagement survey response key, there are three more pieces of information that can help in evaluating the effectiveness of the indicated KPI’s. First, the performance rating may be an indicator of a disengaged crew. Additionally, the training times last year would be a great metric to assess the effectiveness of the training program within the organization. The employee engagement survey indicated that new employees are afforded more opportunities than the longer-tenured staff, which may brew discontent in the organization. Finally, the third aspect to assess, the work-life balance is an important aspect to evaluate employee engagement. If work-life balance is rated low, it is possible that is an indicator why employees are disengaged in the organization. Measuring these aspects should at minimum be done at two separate points to ensure progress in a positive direction, first at the beginning of the transaction and again shortly before the legal process takes shape and the contracts are drafted up to finalize the transaction. It is quite possible that during this process, many employees will be reluctant to accept change, but it is important to take this in stride as change is a scary thing for some individuals. One key strategy is to ensure accountability for everyone in the organization. It is important to set expectations and standards and hold staff to these standards. If staff will not adhere to these standards, they must be let go. Granted, it is not ideal to let anyone go in this process; however, it is important during such a potentially volatile time to ensure consistency among the staff. There must be open lines of communication during this process to ensure staff understands their

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Performance Measurement 4 roles and responsibilities, and adheres to the expectations. If they do not want to comply, it is possible that their employment will be ended.

Performance Measurement 5 References Cox, R. F., Issa, R. R., & Ahrens, D. (2003). Management’s perception of key performance indicators for construction. Journal of construction engineering and management , 129 (2), 142-151. Markos, S., & Sridevi, M. S. (2010). Employee engagement: The key to improving performance. International journal of business and management , 5 (12), 89.

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