Improve business results with metrics that focus employee behavior on business performance at all levels. Drive Business Performance Through New Metrics & Incentives demonstrates how to achieve alignment between performance measurement for senior executives, functional, and non-managerial personnel, and the company’s strategy and reward systems.
Bring this 2-day course into your organization to create a systematic approach and template to use for developing new metrics and incentives closely tied to business goals for all levels. Use this course as a facilitated strategic leadership workshop to increase cross-organization executive team building, create a common understanding of your perfomance measurement program, and develop realistic measures.
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Benefits
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Contents
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Who Should Attend
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Instructor
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Hours & Credits
Bring Drive Business Performance Through New Metrics & Incentives as a Workshop Into Your Organization to:
- Get specific information to meet demanding profit and performance goals.
- Keep performance measurements aligned with company strategy.
- Implement a systematic approach using a template to align performance measurement systems with compensation.
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Critical Factors in Implementing Effective Performance Measurements
- How actual performance and the measurement of performance are related
- How measurement drives behavior
- How internal data integrity can impact measurements
- How performance measurements often drive undesirable behavior and damaging decisions
- How the drop in loyalty (company and employee) is driving a ‘contractor mentality’
- How performance is measured across functional boundaries
- How to define aggregate, functional, process, and operational performance measurements
Aligning Performance Metrics Throughout the Organization
- Principles of performance measurements that work
- What happens when measurements are not properly aligned up and down the organization
- What happens when measurements are not aligned across the organization
- What happens when there are technical, organizational, and cultural impediments to alignment
Driving Operational Performance: Measurements for the Technical Team and Critical Support Team
- Identifying non-value adding activities
- Accurately costing activities
- Adjustments required to eliminate cost distortions at the activity center level
- Examples of operational measurements
- Linking operational performance to the functional dashboard
- Linking operational performance to economic profits
Driving Process Performance Improvement
- Identifying core business processes
- Identifying non-value adding required activities within core business processes
- Costing processes accurately
- Examples of process measurements
- Linking process performance to the operational and functional dashboards
- Linking operational performance to economic profits
On-Line Demonstration: How ALL employees can use operational and process measurements to self-identify, self-prioritize, and remove waste within their span of influence.
Driving Functional Performance: Measurements for the Functional Leadership and Critical Support Teams …the Executive Dashboard
- Developing a purpose for an executive dashboard
- Constructing executive dashboard basic rules
- Determining the dashboard ‘gauges,’ their priority and relative value
- Developing routine methods for gathering and reporting information
- Making adjustments to eliminate cost distortions at the functional level
- Linking functional measurements back to economic profits
Driving Corporate Economic Performance: Measures for Executive Leadership
- Characterizing economic measurement formulas and determining when to appropriately use them
- Using new measurements to discover new performance leverage points
- Understanding the difference between economic profit measures and conventional profit measures
- Adjustments required to calculate economic profits and eliminate cost distortions
- Connecting economic profit measurements to strategy formulation
- Connecting economic profits to tactical plans and measurements
On-Line Demonstration: A method for determining the economic impact any strategic or tactical initiative will have on cash flow, profits,and enterprise valuation.
Overcoming Implementation Obstacles and Challenges
- Why there is so much resistance to changing performance measurements
- Technical, organizational, and cultural implementation obstacles
- Keeping measurements aligned
- Aligning existing reward systems with new measurements
- Institutionalizing the use of the new measurements
- Understanding disclosure and compliance requirements
Using Incentive Compensation to Accelerate Performance
- Getting employees to act like owners
- Moving towards leveraged pay at all levels
- Compensation implications of the ‘contractor mentality’
- Using tools to tie performance metrics to compensation policy
- Assessing the importance of evaluation instruments
- Appropriately compensating top leaders, functional leaders, and employees
- Cautions about changing compensation systems
Bonus Benefit...at the close of this program, participants will be provided an electronic copy of Mr. Dunn’s Integrated Performance Measurement System (IPMS) model…a model for shaping economically consistent behaviors at all levels through the proper mix of economic aggregate, functional, and operational performance metrics tied to appropriate leveraged compensation. Many companies have utilized this model to supercharge consistent performance at all levels. |
| Create a cross-functional team within your organization, which may include your CFO, president and CEO, vice presidents, human resources, and operational/functional managers responsible for dramatically improving their organization’s financial and operational performance. |
| Schedule |
Day 1 - 8:30 AM - 6:00 PM
Day 2 - 8:00 AM - 5:00 PM
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CEU :
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1.65 |
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CPE :
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15 |
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| Download Course Brochure (PDF) |
Special Feature
Participants are invited to attend a reception the first evening of the course, providing an oppportunity to share information and ideas with the instructor and other participants.
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Comments from Past Participants
“Alan Dunn is outstanding.This is the first program I’ve attended that speaks specifically and clearly about how company performance can be improved and analyzed from A to Z. I will definitely use what I learned about identifying the key levers that drive company valuation as well as the majority of the tools taught in the course. “
Nicholas P. Mitrakis
Director, Finance
Siemens Energy &
Automation, Inc.
"This course is excellent. I learned a process for creating complete performance metrics for my company. I will start by creating fundamental economic models for two operating divisions at my company."
Peter Buck
Corporate Controller
National RV Holdings, Inc.
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