Leaders must not only define a performance aspiration but also rally and empower their teams to achieve that aspiration. Key by BCG is our battle-tested performance management approach for tackling that challenge.
Achieving competitive performance is easier said than done. Many leaders experience setbacks and pitfalls, including the following:
- Setting performance targets based on incremental improvements on last year's results versus setting targets that are informed by an understanding of what defines competitive performance in the industry
- Observing that the organization is busy driving a long list of improvement ideas but never seeing the impact hit the bottom line
- Feeling as if the business is on track to hit planned targets, only to be surprised by disappointing performance levels at the end of the year