eg solutions recently hosted a webinar in conjunction with the Professional Planning Forum (PPF). We discussed the use of analytics for insight and appropriate metrics (KPI’s) to install the right behaviours for the customer and the business to achieve best practise.
The panellists included Colin Whelan from PPF, Tim Becker from eg, John Holohan who has a background in financial services and Ian Farrer, Head of Resourcing and Capacity at Nuffield Health.
Following the discussion some interesting questions were raised by those listening in, here is one of the questions and responses from the panellists:
Madonna Mcfarlane asked – In a back office environment where each member of staff completes a different role, how is it possible to set targets, share results and manage performance with incentives?
Look at your grading structure and role descriptions and there should be some commonality, even though the specific tasks may differ. You will be able to set targets, share results and manage performance by role type. At a higher level, there are targets such as effectiveness, shrinkage, quality and service which can be applied irrespective of role. The key though is to translate the corporate strategy into a meaningful operational strategy. If everyone – irrespective of role – is clear on the role they and their team have to play in achieving that strategy, you’re in good shape. John Holohan
Whilst people may complete different roles it is still possible to manage performance using common targets provided consistent underlying measurement principles are adopted and maintained. eg have successfully implemented their back office optimisation software solutions across a huge range of functions from repetitive tasks to complex processing and enabled organisation to consistently manage resources irrespective of the differences in roles. Tim Becker eg solutions
Have your say: is it possible to set targets, share results and manage performance with incentives? If you could visit the blog to share your comments, do you agree with the points raised how do you set your own targets?
Further reading of methods to setting targets:
- eg principles of operational management® help to measure, manage and improve you back office operations.
- How Legal and General provided consistent capacity planning and resource sharing, both across its two sites and across strategic accounts.
- How HBOS’s Managers and Team Leaders have improved personal skills, greater control of workloads, reduced backlogs and improved customer relationships.