Washington, DC -- (SBWIRE) -- 08/31/2009 -- Lifecycle Performance Professionals unveils 35 performance management best practices that drive organizational success. When applied, these best practices significantly improve organizational performance and save costs.
Lifecycle Performance Management is the process in which these best practices are applied. While there are numerous performance management solutions, Lifecycle Performance Management provides a step by step enterprise approach that applies 35 performance management best practices, a suite of templates, plans, guides, and training materials, and an Organizational Performance and Best Practices Analysis that identifies performance strengths, weaknesses and cost savings opportunities, and provides a custom performance management plan.
“There are people out there who are trying to improve their organization’s performance, who are good managers, and just need an effective process to transform their organization’s performance,” says Victor Holman, CEO of Lifecycle Performance Professionals. “We have developed a much needed, turnkey system for applying a phased enterprise approach that focuses on applying performance management best practices and leveraging existing resources.”
“Most companies have some form of performance management processes in place, such as baselining current performance, applying a set of performance metrics, identifying goals and creating a plan to reach those goals,” says Holman. “But where most companies fail are in the intangibles, such as gaining employee acceptance and buy-in, aligning performance to organizational objectives, choosing the right business intelligence tools, etc. It’s the intangibles that can bring a performance initiative to a halt. This is why we’ve identified these best practices. To help organizations avoid these common mistakes that so many companies make.”
The 35 best practices span across the five phases of Lifecycle Performance Management: defining, planning, executing, monitoring and reporting. Each best practice contains a series of sub-processes that cover the practice. A list and summary of the best practices can be found at
http://www.lifecycle-performance-pros.com/index.php/Performance-Management-Best-Practices/ .
Performance management is becoming an important topic that many organizations are being forced to address. With a looming recession, workforce reductions and tightening budgets performance management may be the key to customer loyalty and organizational success. Performance management is also a growing concern among the public sector in desperate need to justify costs and establish a culture of accountability.
“We understand that practically all businesses need a high-value, low cost solution for maintaining competitiveness and performance in a declining economy,” says Holman. “The goal of Lifecycle Performance Management is to tackle tough issues in performance management and provide processes that overcome the common obstacles that most organizations face. Simply buying tools and outsourcing services does not give executive management the insight they need to drive decision-making.”
“Many companies spend hundreds of thousands of dollars on business intelligence tools that are underutilized, or don’t live up to their potential simply because their internal processes are not in line with the capabilities of these complex tools,” says Holman. “Performance management starts within the organization, with the internal processes that educate employees and drive organizational success.”
About Lifecycle Performance Professionals
Lifecycle Performance Professionals provides performance management consulting and products that help organizations reach performance goals through best practice analysis and implementation and custom enterprise performance management solutions. Learn more about Lifecycle Performance Professional's Organizational Performance Analysis and performance frameworks at http://www.lifecycle-performance-pros.com