1/4/2009 | RESOURCES
Audacious Inquiry developed a system for managing the quarterly performance goals of a client’s employees. This system allows the company to manage quarterly bonuses based on a combination of employees’ performances against their own goals for the quarter and the company’s performance against its stated quarterly goals. The system is designed to calculate a blended performance score based on the level of the employee in the organization. A higher-level employee generally has a greater percentage of his or her bonus tied to the company’s performance than an employee at a lower level.
At the beginning of each quarter, the company leadership creates a set of goals for the company and assigns weights to them. Each employee also creates his or her own goals for the quarter with relative weights. The goals are then approved by each employee’s supervisor. There are checkpoints set at the end of the first two months of the quarter, at which point the employee and her supervisor get together to discuss progress and flag individual goals as at-risk based on the progress at that point. At the end of every quarter, there is a performance value (in percentage, out of 100 percent) assigned to each task. The application automatically calculates the overall performance number (out of 100 percent) based on the performance of the employee against her goals and the company’s performance against its goals. If the performance number is 100, the employee gets her full bonus target. If it is zero, she does not receive a bonus.
The goals management system allows human resources to manage employee details and hierarchy information. It also lets companies import information from their HR management system or ERP system. Finally, the system was shipped with a number of built-in reports that allow HR staff to keep track of past employee performance and to manage the employee performance review process. Firms interested in exploring how the goals management system could meet their own needs should contact Audacious Inquiry.