It is a fact that business is increasingly facing expectations from investors, consumers, suppliers, stakeholders and communities to bear responsibility for its impact on society and the environment. All companies manage risks, whether financial or operational, to ensure long term success. Based on the plan-do-check-act management cycle, Accenture has recently developed an evaluation framework that provides a holistic approach designed to systematically assess an organization’s integrated performance management capabilities and identify opportunities for improvement. The proposed concept on Integrated Behavioral Performance Management System (IBPMS) can help any organization to quantify and manage its environmental & social risks through preventing financial losses and create a comparative advantage. In this way IBPMS may help to attract top talents who share the companies’ vision on sustainability for further employee attraction and retention. Sustainability Performance is being used increasingly as a recruitment tool in the hunt for talent.
The implementation of an IBPMS requires the commitment of senior management as well as the support and involvement of individuals from all areas of the organization, including accounting, marketing, product and process development, procurement, operations, distribution, sales, service and information systems. Traditional methods of performance measurement review results only, whereas an IBPMS links strategic objectives, core business strategies, critical success factors and Key Performance Indicators (KPI) and is an ongoing process that integrates measurement, facilitates analysis and action. In this way, it encourages continuous improvement, defines and reinforces accountability and emphasizes the core dimensions of behavioral performance as defined by strategic requirements moving beyond traditional productivity measurement.
By integrating financial and non-financial performance measures, an IBPMS provides management with the leading indicators and offers timely feedback required to identify opportunities, as well as take corrective measures when problems arise. It is necessary that every employee should know what his or her defects are and how to correct them. Every good performance deserves an equivalent reward after a proper assessment. The potential of an individual is truly reflected in his or her performance if the focus is shifted from ‘How he/she performs’ to ‘What he/she is?’
Ultimately Integrated Behavioral Performance Appraisal System with the main focus on emotional intelligence is really the most important strategic key factor whereby the potential capabilities of individuals are reflected as actual reality that would help in subsequent re-planning for progressive growth of any organization.