There are several stories populating the annals of business history of enterprises that once dominated their industries but then later jumped to their decline. The reasons are often about staying too close to the existing customers, which is a myopic viewpoint on short-term financial performance and possess an inability to adopt themselves to business models for disruptive innovation. But this does not still explain with proper clarity that why the business leaders that once were able to steer these firms to success pinnacle were able to completely lose their touch.
There is a saying that goes with this scenario – after a certain acquired age we learn more from our failures than from our successes!
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Would you like to know the secret behind how to achieve organizational success? It is strong performance management, which is the processes you put in place to assess and rewards and the abilities for your workforce to meet and exceed goals.
The main idea is to improve morale, drive loyalty and increase the overall productivity in your employees through performance management is the key to a company’s ability for outperforming competition.
The best performance management systems are the ones that establish a true pay-for-performance culture, which in turn drives better employee engagement. The process for linking a company’s compensation plan to team or individual performance requires the following – setting, assessing, and rewarding achievable performance success and expectations. Continue reading –>
Here is some real talk for all you MBA students who are either preparing for the rat race in the corporate life, or are already a part of it! If you work for the longest hours every day, then you will look the most desperate. While it is not a good idea to look lazy, but you need not be the hardest worker in the den as well!
Why work so much harder than the next person? What are you compensating for? Are you not as smart as them? Are you less organized? Are you not confident in your skills and abilities? Can you not navigate the world outside of work?
Chances are if you are the hardest worker in your team, then one the above is true, may be you are too blind to see it. Continue reading –>