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"Performance management is a crucial business process that helps companies cut costs, boost productivity, and enhance customer satisfaction. By focusing on key expense drivers, implementing systematic approaches, and reducing redundant processes, organizations can achieve success. This strategy involves identifying, educating, and monitoring expense drivers, while respecting and leveraging existing staff knowledge. By following a roadmap that prioritizes impactful projects, companies can streamline daily activities and improve overall performance."
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What is Performance Management? “A business process that enables companies to drastically reduce their expense base by designing and monitoring daily activities in ways that minimize waste and resources while increasing productivity.”
Basic Principles to Success • Focus on customer satisfaction • Increase profit margins by increasing revenue and reducing expenses • Improve performance project by project
Basic Principles to Success • Apply a systematic approach – Define>Measure>Analyze>Implement>Control • Address projects that have the largest impact first • Respect & utilize the knowledge and experience of existing staff
How do you achieve your Goal? • Identify key expense drivers • Educate staff on importance and impact of key expense drivers • Focus on reducing redundant processes
How do you achieve your Goal? • By reducing steps you reduce the opportunity for errors or loss to incur • Develop management tools to monitor and identify variances • Utilize performance management tools to maintain efficiencies
