It is sufficient to simply identify those Key Performance Indicators (KPIs) that are relevant for the company and put them on a performance management instrument (dashboard or scorecard). Data is then collected and centralized over periods of time, allowing a clearer image over the company’s progress.
However, when performance is not meeting the required levels, actions need to be taken, so as to put the company back on the track. This is the beginning of performance management. The person responsible for improving companies’ results, be it manager or director, has to identify the key people and process that are not functioning properly and to direct them on the right path.
Monitoring one’s input, output and overall performance is an important aspect of gap identification, improvement and reconciliation, and individual growth. To have active systems which are tailor made to management’s requirements is crucial in bettering performance, not only for the employee but also for the manager.
This is because performance monitoring software allows managers more time to analyze and understand the data as opposed to having to extrapolate it manually. Not only that, but it also allows for a live feedback system for quick adaption to error in performance, and can potentially prevent employees from falling short in their efforts to be their best.
If you’re looking to improve your existing application and service delivery, consolidate existing performance monitoring tools and responsibilities, or justify the impact of a new technology deployment, these six steps serve as the fundamental building blocks of an effective performance monitoring strategy.
- Enable proper monitoring and eliminate visibility gaps
- Build proper baseline metrics
- Practical alerts with threshold values to eliminate noise and false positives
- Flexible, adaptable reports for challenging performance scenarios
- Properly analyze for practical insights and informed decisions
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