Working Together for Success: the Balanced Scorecard Solution at Peel Memorial Hospital

Performance management systems benefit stakeholders at every level if they are implemented successfully. Performance management systems align employee performance with the strategic direction set by the organization. St. Jessica’s Urban Medical Center’s leadership must perform specific actions, prior to implementing the new performance management system, to ensure it is a success. The organization's leadership must disseminate the information throughout the company, create a process that ensures employees can dispute ratings, train raters to evaluate employees and gain buy-in from early adopters (Aguinis, 2013). A newly implemented performance management system will fail if the proper steps are not taken in the beginning.

The performance management system helps the company in identifying the employees who are not able to perform as per the expectations. Warnings can be given to these employees for improving their performance. Even after that they are not able to improve their performance; these employees can be terminated on the basis of performance. The organization keeps documentation about the performance of an employee. The company documents the performance in HR 's file. Employees in Organization are motivated and they value the structure of the company, its development and plan for growth. A motivated employee performs using full potential, which is good for both the organization and employee.

This essay examines Duke Children's Hospital's implementation of the balanced scorecard (BSC) approach monitoring and managing their performance. The Hospital achieved a dramatic turnaround in its finances and patient and staff satisfaction ratings over a period from 1993 to 2000. The case study authors attribute the Hospital's success to its use of the balanced scorecard methodology.

Balanced Scorecards positively impact in the business development of a company with an effective application of company values to sway customer perspective ADDIN EN.CITE Morgan2002317(Morgan &

“The balanced scorecard should translate a business unit’s mission and strategy into tangible objectives and measures. The measures represent a balance between external measures for shareholders and customers and internal measures of critical business processes, innovation and learning and growth. The measures are balance between outcome measures, the results of past efforts, and the measures that drive future performance. And the scorecard is balanced between objective, easily quantified outcome measures and subjective, somewhat judgmental, performance…”

When looking at performance management it can be defined as (1) ‘a process which contributes to effective management of individuals and teams in order to achieve high levels of organisational performance. As such it establishes shared understanding about what is to be achieved and an approach to leading and developing people which will ensure it is achieved.’ We can see from this definition that managing performance is crucial to the overall performance of the organisation and meeting its goals and objectives. This process must then be strategic but also link other aspects of the organisation such as individuals and teams. As defined above, performance management is ultimately about achieving high levels of

The purpose of Performance management is to develop the ability of individuals to meet and often exceed expectations to achieve their full potential in the individuals given field of expertise, therefore benefiting themselves and the organisation. Performance management provides an origin for self-development and it helps ensure that the support and direction

Performance management relates to an organization’s ability to implement a system to evaluate and advance employee performance. Achieving peak performance requires consistency, clear objectives, and constructive employee evaluation. According to Mithas, Ramasubbu, & Sambamurthy (2011), an organization must design the performance management system based on extensive research about the organization’s mission, and then properly communicate the purpose of the system to employees, stakeholders, and decision makers. After the performing the research, the information should be used to establish the appropriate performance management specialized for the organization. In addition, an effective performance management system should align

Today, organizations need to have a clear understanding of where their organization is and where it needs to be in the future to secure longevity and financial success (Moore, Ellsworth, & Kaufman, 2011). Organizations need to have a performance management system in place to stay competitive. Therefore, having a well-developed performance management process in place allows the employer and employee to communicate goals, share information, and establish career growth. Performance management needs to contribute to the success of the organization while providing a positive impact on the employees. Therefore, the mission, goals and performance management should coincide with one another.

Performance management is a tool that managers use to ensure that their companies remain at the top of their competitive edge. The Chartered Institute for Personnel Development (CIPD, 2008), defines performance management as a method by which individuals and teams are managed in a way that achieves high performance at an organisational level. The individuals within the organisation share an understanding of the achievement goals of the organisation. In order to achieve this, a general strategy is created, with each individual within the organisation understanding his or her role and requirements within such a strategy

A Balanced Scorecard is, “A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2009, p. 202). Healthy Place needs to develop a balanced scorecard in order to assist in defining the company’s mission, values, vision, and SWOTT analysis. Herein, the four perspectives, financial performance, customer knowledge, internal business processes, and learning and growth will be discussed as they relate to the Healthy Place mission, values, vision, and SWOTT analysis.

4. Where performance indicators widely have public support, such as NHS waiting times, is the area where performance management proves most effective in delivering improvements. However, performance management effectiveness may be influenced by several other factors including leadership and organisational culture.

Performance management is the process of planning work assignments, setting expectations, monitoring processes, rating performance, and rewarding performance. Performance management systems are used by organizations to identify, measure, and develop the performance of individuals and teams. The goal of an effective performance management system is to strategically align employee performance with company goals and objectives (Smither & London, 2009). In order to achieve optimal performance, organizations are tasked with implementing innovative solutions that ensure performance management systems that deliver real results and improve performance (MacMillan, 2015). Organizational leaders are responsible for understanding the performance management system in order to focus on employee efforts that will help in achieving both individual and organizational goals (Opm.gov). In this paper, the author will suggest the key processes that DSM needs to provide within its system in order to successfully link its key success factors (KSF). The author will select three drivers, and examine the central manner in which DSM management has aligned its business strategies to performance management. Lastly, the author will critique DSM’s competitive advantage by using three of the six assessment points outlined in the textbook.

The definition of the term ‘performance management’ varies in different literatures. As Hutchinson(2013) summed up, combined with Den Harton’s theory(2004), it is a continuous process which links individual and team objectives with organizational goals by measure and improve employee’s skill and performance. According to Armstrong (2012), human resource management aims at making sure the organization has the most talented, skilled and engaged people in order to attain its goals. In this context, performance management is one staple practice helping managers identifying and retaining most competent employees as well as correcting poor performance.

Performance management aims at developing individuals with the required commitment and competencies for working towards the shared meaningful objectives within an organizational framework. (Lockett1992)