Corporate performance management improves the capability of a business. It provides three important values to the business. They are information delivery, performance oversight, and performance effectiveness. These values help to understand, manage and improve the business. Corporate performance management system coordinates the performance of managers, staff, customers and suppliers within an integrated environment.

The basic elements of corporate performance management are providing information and strategy planning. CPM can provide the core decision makers direct access to required information. With a clear understanding of the facts of the business, informed decisions can be taken for boosting the performance. Performance oversight signifies an overall view of the business details. CPM provides the required performance oversight to the management which helps in optimizing the business. Performance effectiveness helps business executives as well as decision makers to set clear goals and work towards achieving them. CPM assures the necessary performance effectiveness.

Corporate performance management system combines the management process in a single, interactive and collaborative work space. Scorecards and reports can improve finance, operations and workforce. Web based collaboration and distribution capabilities improve the communication process. Corporate performance management system can reduce planning, forecasting and reporting time through data capture and analysis. It integrates business strategies, business measures and business actions.

Corporate performance management provides accurate financial information about the day-to-day activities of people, equipment and process. It can develop comprehensive plans and customized reports. It helps the organization to maintain profitable inbound and outbound relationship with the customers. CPM can reduce problems associated with reporting financial and operational data.

Corporate performance management finds use in the pharmaceutical and health science sectors. It can be used for clinical performance management and product demand forecasting. In the financial sector, CPM is applied in mortgage banking, incurrence claims and risk reporting. Corporate performance management is important in manufacturing areas. It is important in supply chain planning and manufacturing performance management. CPM application is important in aerospace and defense management. Other important CPM areas are retail performance management, vendor management, police performance management and the public sector.

In Human Resource (HR) and management circles nowadays there is much talk about Strategic Human Resource Management and many expensive books can be seen on the shelves of bookshops. But what exactly is SHRM (Strategic Human Resource Development), what are its key features and how does it differ from traditional human resource management?

SHRM or Strategic human resource management is a branch of Human resource management or HRM. It is a fairly new field, which has emerged out of the parent discipline of human resource management. Much of the early or so called traditional HRM literature treated the notion of strategy superficially, rather as a purely operational matter, the results of which cascade down throughout the organisation. There was a kind of unsaid division of territory between people-centred values of HR and harder business values where corporate strategies really belonged. HR practitioners felt uncomfortable in the war cabinet like atmosphere where corporate strategies were formulated.

Definition of SHRM

Strategic human resource management can be defined as the linking of human resources with strategic goals and objectives in order to improve business performance and develop organizational culture that foster innovation, flexibility and competitive advantage. In an organisation SHRM means accepting and involving the HR function as a strategic partner in the formulation and implementation of the company’s strategies through HR activities such as recruiting, selecting, training and rewarding personnel.

How SHRM differs from HRM

In the last two decades there has been an increasing awareness that HR functions were like an island unto itself with softer people-centred values far away from the hard world of real business. In order to justify its own existence HR functions had to be seen as more intimately connected with the strategy and day to day running of the business side of the enterprise. Many writers in the late 1980s, started clamoring for a more strategic approach to the management of people than the standard practices of traditional management of people or industrial relations models. Strategic human resource management focuses on human resource programs with long-term objectives. Instead of focusing on internal human resource issues, the focus is on addressing and solving problems that effect people management programs in the long run and often globally. Therefore the primary goal of strategic human resources is to increase employee productivity by focusing on business obstacles that occur outside of human resources. The primary actions of a strategic human resource manager are to identify key HR areas where strategies can be implemented in the long run to improve the overall employee motivation and productivity. Communication between HR and top management of the company is vital as without active participation no cooperation is possible.

Key Features of Strategic Human Resource Management

The key features of SHRM are

There is an explicit linkage between HR policy and practices and overall organizational strategic aims and the organizational environment
There is some organizing schema linking individual HR interventions so that they are mutually supportive
Much of the responsibility for the management of human resources is devolved down the line

Trends in Strategic Human Resource Management

Human Resource Management professionals are increasingly faced with the issues of employee participation, human resource flow, performance management, reward systems and high commitment work systems in the context of globalization. Older solutions and recipes that worked in a local context do not work in an international context. Cross-cultural issues play a major role here. These are some of the major issues that HR professionals and top management involved in SHRM are grappling with in the first decade of the 21st century:

Internationalization of market integration.
Increased competition, which may not be local or even national through free market ideology
Rapid technological change.
New concepts of line and general management.
Constantly changing ownership and resultant corporate climates.
Cross-cultural issues
The economic gravity shifting from ‘developed’ to ‘developing’ countries

SHRM also reflects some of the main contemporary challenges faced by Human Resource Management: Aligning HR with core business strategy, demographic trends on employment and the labour market, integrating soft skills in HRD and finally Knowledge Management.

References

Armstrong, M (ed.) 192a) Strategies for Human Resource Management: A Total Business Approach. London:Kogan Page
Beer, M and Spector,B (eds) (1985) Readings in Human Resource Management. New York: Free Press
Boxall, P (1992) ‘Strategic Human Resource Management: Beginnings of a New Theoretical Sophistication?’ Human Resource Management Journal, Vol.2 No.3 Spring.
Fombrun, C.J., Tichy, N,M, and Devanna, M.A. (1984) Strategic Human Resource Management. New York:Wiley
Mintzberg, H, Quinn, J B, Ghoshal, S (198) The Strategy Process, Prentice Hall.
Truss, C and Gratton, L (1994) ‘Strategic H

Performance objectives have been around forever (think Moses!) but I still meet business owners and managers who are confused about what they are and why they are important. And, clearly, when business owners and managers are confused they are much less likely to utilise performance objectives for improving employee performance, employee satisfaction and business performance. That’s a shame. Here’s my take on the two issues – the ‘what’ and ‘why’ of performance objectives (P.O’s)

What are ‘performance objectives’?

P.O’s are simple written descriptions of what good performance in the job looks like; performance related to the ‘what’ of the job – the quantity, quality and time elements – and to the ‘how’ of the job – the behaviours. The purpose of P.O’s is to ensure that your employees know exactly what they need to do in order for your organisation to meet its goals. P.O’s clearly define what good performance looks like for the employee’s job. The idea is that once you and your employee have agreed what good performance looks like, using P.O’s, then they will meet those objectives. You will, of course, be monitoring and measuring their performance against the objectives, and giving feedback, to ensure that they are meeting those objectives

Why are performance objectives so important?
Research shows that;

Having clear objectives with effective measures improves performance by over 30%. What difference would 10, 20 or even 30% improvement in performance make to your results, your team, your business?
Teams who say that they know what was expected of them are found to be both more productive, more profitable and had higher satisfaction ratings than those who didn’t. P.O’s are the easiest way to help your employees understand what is expected of them
Employees who say they lack any real commitment to their job give one of the key reasons for that lack of commitment as not knowing what was expected of them.

In short, performance objectives improve performance. The performance of the employee and performance of the business. They also improve employee motivation and job satisfaction. And there’s more…

And what about you as the manager?

A couple of key points:

If you get clear with your employees on what you want from them, you’ll get more from your employees of what you need from them. Many business owners and managers seem to think that their employees should just know what they need to do, what’s expected of them. Well maybe they should, but often they don’t
Your employees can’t give you what they don’t know what you want. So much of the frustration I see and hear from employees sounds something like ‘I just want to know what my boss wants from me. Why doesn’t she just tell me?’
When you agree performance objectives with your employees you put in place the ‘foundation stone’ of effective employee management. How can you give your employees the feedback they want and need (and which they tell us they want a lot more of) unless you have objectives? What else would you be giving feedback on if not the employee’s performance against objectives?

Your office is a place of work where business and professional duties are carried out. It can have many types of people of varying authority and performing different jobs. Designing of office space therefore means catering to many people with multiple needs. Today there is so much scope to make great interiors possible in terms of looks, comfort, functionality and efficiency. With the coming of laptops, mobile phones and other technology designing office space has evolved into an art as well as science.

Every creative designer has tools at his disposal to shape the world of work – nature, artificial material, furniture and more. The work place is where most people spend a huge portion of their waking moments. So it is but natural to expect that place to be energizing and inspiring too. It has been proven that a good office interior design can actually increase productivity by leaps and bounds. Employees who are happy produce better quality work at a faster pace. A working area that has been ergonomically designed allows people to work without fatigue and pain for longer durations – this obviously has a positive impact on their morale and productivity. A good professionally designed office projects a good image about your company to your customers.

Now that we know how important office design is to the optimal functioning of a business, let us take a look at how to achieve a good one. First is to list out your needs and budget. Next is to hire the services of a professional interior designer if your budget permits it. Choosing a design, styles and layout are the next steps. Marking a focal point at various areas like a conference room or CEO’s suite etc is a technique that can be used to create a particular, calculated impression in the eyes of the beholder.