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Factors that will assist in the achievement of KPIs also include: ➢Available resources ➢Budget allocations ➢Available staff members ➢Supplies and stationery ➢General equipment and machinery ➢Organisational structure. The standards that are set within these KPIs should be based on the following: ➢Client surveys (including feedback on client satisfaction and suggestions) ➢General organisational goals ➢Staff members and their knowledge, skills and levels of motivation
P a g e | 59 Australian Health and Management Institute ➢Benchmarking practices ➢Industry standards and expectations. KPIs can highlight areas that need improvement, assist staff members in determining whether they are working according to required objectives and identify areas where they can also be excelling in the workplace. KPIs should be flexible –able to change according to organisational needs –and they must also be realistic and achievable. A KPI that cannot be met will create unrealistic expectations in a working team and create negative feelings among staff members. Balanced scorecards can offer a strategic outlook on the organisation by building on KPIs to grow the business, looking at the overall business perspective, determining the client perspective and also by determining how the company looks financially. Balanced scorecards can be used for measuring and benchmarking: ➢Customer satisfaction ➢Customer complaints ➢Response time ➢Overall quality of service and timing ➢Returns and defective stock ➢Error rates ➢Staff satisfaction ➢Staff turnover. Measures for team member productivity and performance should be linked to balanced scorecards and KPIs. This should ideally form part of the performance management plan or performance review for staff members every year or every six months. Performance management plans and KPIs should be viewed as an opportunity to provide staff members with accurate and timely feedback on their performance in the workplace. It should not be viewed as an opportunity to shame or ridicule staff, but as a chance to let them grow, develop and identify areas where they need more assistance in their job roles and in their workplace. (Source: )
P a g e | 60 Australian Health and Management Institute Activity 4C
P a g e | 61 Australian Health and Management Institute 4.4 –Make necessary refinements to plan By the end of this chapter, the learner should be able to: ➢Identify refinements that need to be made to the plan from previous performance data ➢Make and document changes to plan. Refinements to plan As the strategic plan is implemented, you may identify changes that need to be made to it in order to reach your targets. For example, one of the suggested action points has been counter-productive to the goal and you need to replace it with another. Alternatively, an action point has been a success and you wish to see if there are any further improvements that can be made to yield more results.