The Process - Explained
Analysis of organizational vision, mission and strategic goals
In Step 1, Meirc analyzes the organizational strategy by performing a thorough review of the vision, mission and strategic goals which the organization has in place for its current strategic cycle.
Extraction of organizational Critical Success Factors (CSFs)
Identification of Key Performance Areas (KPAs)
Identification of core competencies
Identification of organizational values
In Steps 2A-2D, Meirc extracts the organizational Critical Success Factors (from the strategy) and sorts them into Key Performance Areas (KPAs), core competencies and organizational values.
Development of Key Performance Indicators (KPIs)
In Step 3, Meirc conducts training workshops for each business unit in the organization to help its stakeholders develop the right set of Key Performance Indicators. During these workshops, each of the developed KPIs is subjected to an x-ray process using a tool called the KPI ID Card which was designed by Meirc for such purposes. The tool ultimately ensures that each of the developed KPIs is both valid and reliable. Although the duration of these workshops largely depends on the size and complexity of the business unit, we can safely state that most workshops last between 1 and 2 days.
Development of behavioral indicators and code of conduct
In Step 4, Meirc uses its competency subject matter experts to produce a set of behavioral indicators (3-5) for each of the competencies and values extracted from the strategy. Along with the KPIs developed in Step 3, these behavioral indicators are then used as additional inputs for the performance management system being designed.
Consolidation and design of components of performance management system and criteria for reward
In Step 5, Meirc compiles all the inputs from Steps 1-4 and uses them to produce the performance management system for the organization.