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10 strategies and tactics for Performance Management

What is Performance Management strategy?

Every great achievement starts with a well-thought-out plan. It can be the launch of a new product, expanding into new markets, or just trying to increase efficiency. You'll need a delicate combination of strategies and tactics to ensure that the journey is smooth and effective.

Developing an effective Performance Management strategy can be intimidating, especially when your daily duties demand your attention. To assist you, we've curated a list of examples to inspire your planning process.

Feel free to copy these examples into your favorite application, or leverage Tability to maintain accountability.

How to write your own Performance Management strategy with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own strategies.

Performance Management strategy examples

You will find in the next section many different Performance Management tactics. We've included action items in our templates to make it as actionable as possible.

Strategies and tactics for becoming the Most Trusted and Customer-Centric Financial Institution

  • ⛳️ Strategy 1: Develop tailored banking solutions

    • Conduct comprehensive market research to understand customer segments and their needs
    • Analyse customer data to identify preferences and personalise offerings
    • Create flexible banking products that adapt to varying customer needs
    • Enhance services with tailored customer support options
    • Provide regular training for staff on personalisation techniques
    • Develop feedback mechanisms to refine and enhance tailored solutions
    • Set up cross-functional teams to drive innovation in product development
    • Explore partnerships with fintech firms to enhance offerings
    • Implement a customer relationship management system for better customer insights
    • Monitor and evaluate the impact of personalised solutions on customer satisfaction

  • ⛳️ Strategy 2: Enhance communication and transparency

    • Use clear and simple language in all customer communications
    • Improve online platforms to offer easily accessible information on products and services
    • Train customer service representatives to provide accurate and clear information
    • Implement proactive communication strategies to keep customers informed about changes
    • Develop a FAQ section on the website to address common customer queries
    • Create informative and engaging content about banking services and products
    • Regularly update customers on security measures and privacy policies
    • Host regular webinars and workshops to educate customers on financial management
    • Incorporate customer feedback into communication strategies
    • Evaluate the effectiveness of communication strategies through customer surveys

  • ⛳️ Strategy 3: Leverage innovative technology

    • Invest in the latest technology to enhance digital banking platforms
    • Ensure mobile and online platforms offer a seamless user experience
    • Implement AI and data analytics to personalise customer interactions
    • Automate routine transactions to improve service efficiency
    • Offer virtual financial advice through secure digital channels
    • Regularly update digital platforms to incorporate customer feedback
    • Provide robust security features to protect customer data and build trust
    • Integrate chatbots for 24/7 customer assistance
    • Organise regular digital literacy sessions for customers
    • Continuously monitor and upgrade technology to stay ahead of market trends
personalizationtechnologycustomer-service-representativedata-analystinnovation-teamcommunication-team
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Strategies and tactics for implementing a performance management process

  • ⛳️ Strategy 1: Design the performance management framework

    • Conduct a needs assessment to understand current performance gaps
    • Research best practices in performance management
    • Develop performance measurement criteria aligned with organisational goals
    • Create a performance review cycle timeline
    • Define clear roles and responsibilities for all stakeholders
    • Develop tools and templates for performance documentation
    • Incorporate feedback mechanisms into the process
    • Ensure alignment with legal and compliance standards
    • Communicate the framework draft to leadership for feedback
    • Finalize the framework and prepare for implementation

  • ⛳️ Strategy 2: Implement the performance management process

    • Train managers and employees on the new performance management system
    • Launch an organisational communication campaign to introduce the process
    • Provide ongoing support and resources to managers for effective implementation
    • Set up a digital platform for tracking performance metrics
    • Schedule initial performance review meetings
    • Collect and document performance data consistently
    • Facilitate regular check-ins between employees and managers
    • Encourage open dialogue and feedback during performance reviews
    • Analyse performance data for continuous improvement opportunities
    • Adjust implementation based on initial feedback and observations

  • ⛳️ Strategy 3: Evaluate and improve the performance management process

    • Conduct post-implementation surveys to assess satisfaction and effectiveness
    • Collect qualitative feedback from managers and employees
    • Identify success stories and areas for improvement
    • Analyse key performance metrics against initial goals
    • Compare current and past performance data to evaluate impact
    • Organise focus groups to discuss improvement suggestions
    • Review feedback with leadership for strategic insights
    • Initiate updates to the process based on evaluation outcomes
    • Plan ongoing training and development based on performance gaps
    • Set timelines for regular evaluation of process effectiveness
performance-managementframework-developmentmanageremployeehuman-resourcesleadership
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Strategies and tactics for enhancing Customer-Centric Approach at Dashen Bank

  • ⛳️ Strategy 1: Enhance personalisation through advanced analytics

    • Employ advanced data analytics to segment customers based on behaviours and preferences
    • Conduct regular customer surveys to gather data on changing needs and preferences
    • Develop tailored banking products and services for different customer segments
    • Integrate a CRM system to track and personalise every customer interaction
    • Leverage customer data to offer personalised marketing campaigns
    • Utilise AI-driven personalisation tools to recommend products and services
    • Create personalised customer journey maps to improve the customer experience
    • Implement a feedback loop to continually refine personalisation efforts
    • Collaborate with cross-functional teams to ensure alignment in personalisation strategies
    • Set and monitor KPIs to measure the effectiveness of personalisation efforts

  • ⛳️ Strategy 2: Improve transparency and communication across all channels

    • Develop standard templates for all customer communications to ensure consistency
    • Create an educational content library consisting of FAQs, tutorials, and guides
    • Ensure all communication channels provide clear information on products and fees
    • Regularly update customers on changes to products or fees through multiple channels
    • Establish a centralised CRM to enhance tracking of customer interactions
    • Train staff on clear and effective communication techniques
    • Provide transparent customer service guidelines across digital and branch channels
    • Implement a feedback mechanism for customers to rate communication clarity
    • Benchmark against industry best practices for clarity and transparency
    • Monitor customer satisfaction and confusion indexes to fine-tune communication strategies

  • ⛳️ Strategy 3: Streamline processes to boost efficiency and digital engagement

    • Map current customer journey processes to identify bottlenecks and inefficiencies
    • Implement lean methodologies to streamline workflows and reduce wait times
    • Invest in technology to automate key customer service functions
    • Enhance mobile and digital platforms to provide seamless service access
    • Develop a user-focused design for digital banking interfaces
    • Increase cloud infrastructure investment to support more scalable digital solutions
    • Implement real-time performance tracking tools to monitor service efficiency
    • Create cross-training programs to enhance staff efficiency in multiple roles
    • Use AI tools for proactive customer support and issue resolution
    • Benchmark digital engagement levels against competitors to identify areas for improvement
personalisationtransparencydata-analystcustomer-service-representativemarketing-teamit-team
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Strategies and tactics for implementing formal HRM practices

  • ⛳️ Strategy 1: Initiate structured recruitment process

    • Audit current recruitment process to identify gaps
    • Develop detailed job descriptions and specifications
    • Create a structured interview format and evaluation criteria
    • Implement an applicant tracking system for efficiency
    • Provide recruitment training for hiring managers
    • Partner with local job boards and universities for outreach
    • Implement a referral programme to leverage existing employees' networks
    • Conduct regular recruitment process reviews to ensure effectiveness
    • Monitor the diversity of candidates to promote inclusion
    • Gather feedback from new hires about their recruitment experience

  • ⛳️ Strategy 2: Establish comprehensive performance evaluation system

    • Research and select a suitable performance evaluation framework
    • Train managers on effective evaluation techniques
    • Develop clear, measurable performance goals for each role
    • Implement a platform for continuous performance tracking
    • Schedule regular one-on-one feedback sessions
    • Introduce 360-degree feedback from peers and subordinates
    • Recognise and reward high performers regularly
    • Create individual development plans based on evaluation outcomes
    • Use performance data to inform promotions and pay increases
    • Regularly revise the evaluation system based on feedback

  • ⛳️ Strategy 3: Develop continuous training and development programmes

    • Conduct a training needs analysis for all employees
    • Create a yearly training calendar with various learning opportunities
    • Partner with industry experts for specialised training sessions
    • Implement e-learning platforms for flexible access to courses
    • Encourage cross-functional training to promote versatility
    • Schedule regular workshops on emerging industry trends
    • Offer leadership development programmes for potential future leaders
    • Evaluate training programme effectiveness through employee feedback
    • Allocate budget for external courses and certifications
    • Incorporate on-the-job training and mentorship schemes
recruitmentperformance-evaluationhr-managertraining-coordinatorrecruitmentemployee-development
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Strategies and tactics for improving the Liberia Electricity Corporation

  • ⛳️ Strategy 1: Combat power theft

    • Implement advanced metering infrastructure to monitor electricity usage
    • Conduct regular audits and inspections to detect and address illegal connections
    • Collaborate with law enforcement to prosecute offenders
    • Launch public awareness campaigns about the consequences of power theft
    • Offer incentives for reporting power theft
    • Utilise data analytics to identify suspicious patterns of electricity usage
    • Upgrade electrical infrastructure to prevent tampering
    • Form a specialised task force to focus on power theft prevention
    • Enhance customer billing systems for greater accuracy and transparency
    • Ensure a robust legal framework to support anti-theft measures

  • ⛳️ Strategy 2: Reduce outages and improve supply reliability

    • Invest in upgrading and maintaining transmission and distribution infrastructure
    • Implement predictive maintenance using smart grid technology
    • Diversify energy sources to reduce dependency on any single source
    • Develop a comprehensive emergency response plan for outages
    • Increase investment in renewable energy projects
    • Improve load management and capacity planning
    • Establish partnerships with international energy experts for best practices
    • Regularly review and update infrastructure resilience strategies
    • Implement real-time monitoring systems for quick fault detection
    • Provide training for technical staff on modern maintenance techniques

  • ⛳️ Strategy 3: Enhance customer service

    • Establish a customer service hotline for reporting issues and inquiries
    • Implement an online portal for bill payment and service requests
    • Conduct regular customer satisfaction surveys
    • Train customer service representatives in effective communication skills
    • Create a mobile application for real-time updates on outages and maintenance
    • Introduce a loyalty programme for timely bill payments
    • Organise community outreach programmes to educate consumers
    • Ensure transparency in billing and service charges
    • Resolve customer complaints promptly and effectively
    • Establish a feedback loop to continually improve customer service

  • ⛳️ Strategy 4: Improve human resource management

    • Conduct a comprehensive skills audit of current employees
    • Develop and implement a continuous professional development programme
    • Introduce performance-based incentives and recognition programmes
    • Enhance recruitment processes to attract top talent
    • Foster a positive workplace culture that encourages collaboration and innovation
    • Implement a mentoring programme for new employees
    • Ensure regular performance reviews and feedback sessions
    • Offer competitive remuneration and benefits packages
    • Provide leadership training for management staff
    • Promote a work-life balance to increase employee satisfaction and retention
electricityreliabilitycustomer-service-representativetechnical-staffaudit-and-inspection-teamhuman-resources-team
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Strategies and tactics for defining Key Performance Indicators and Key Risk Indicators

  • ⛳️ Strategy 1: Identify and define relevant KPIs

    • Research industry standards for CAD design performance metrics
    • Consult with senior designers to understand company-specific KPIs
    • Define time-based KPIs such as average design completion time
    • Include accuracy metrics by measuring error rates in designs
    • Track the number of design iterations needed before approval
    • Assess customer satisfaction with completed designs
    • Measure personal development through completed training sessions
    • Include innovation metrics such as the number of suggestions for design improvements
    • Use software tools to automate tracking and reporting of KPIs
    • Regularly review and adjust KPIs to align with evolving project goals

  • ⛳️ Strategy 2: Identify and define relevant KRIs

    • Identify potential risks in the design process of press brake machines
    • Rank risks by likelihood and impact to prioritise focus
    • Define a threshold for acceptable design error rates
    • Monitor compliance with industry safety standards in designs
    • Track external factors such as supply chain disruptions affecting design timelines
    • Set up alerts for deviations from the design specifications
    • Evaluate the dependency on specific software tools or technologies
    • Include team collaboration and communication metrics
    • Use a risk management tool to automatically monitor and report KRIs
    • Regularly review and update KRIs based on recent risk assessments

  • ⛳️ Strategy 3: Implement and monitor KPIs and KRIs

    • Develop a dashboard to visualise KPIs and KRIs
    • Schedule regular team meetings to discuss KPI and KRI metrics
    • Provide training to ensure understanding of KPIs and KRIs
    • Use real-time data for continuous monitoring and adjustments
    • Compare performance against benchmarks and standards
    • Identify trends and patterns in KPI and KRI data
    • Assign accountability for maintaining specific KPIs and KRIs
    • Incorporate feedback loops for constant improvement
    • Invest in technology to enhance data accuracy and reporting
    • Conduct regular reviews to refine indicator effectiveness
performanceriskcad-designerproject-managerdesign-teamrisk-management-team
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Strategies and tactics for ensuring fair compensation for music creators and growth in our service offerings

  • ⛳️ Strategy 1: Enhance service delivery and efficiency

    • Invest in advanced technology for real-time rights monitoring and music performance data analytics
    • Train staff regularly on the latest music licensing laws and technologies
    • Develop a user-friendly client portal for tracking and managing their music licenses and royalties
    • Implement a customer feedback loop to constantly improve service delivery
    • Streamline processes for quicker royalty distribution to creators
    • Establish partnerships with tech providers to improve music monitoring accuracy
    • Increase the speed and accuracy of our data analysis services
    • Enhance cross-platform integration for seamless client experience
    • Introduce a mobile app for easier access to services by clients
    • Automate routine tasks to free up team resources for higher-value services

  • ⛳️ Strategy 2: Expand market reach and develop customer base

    • Identify and target emerging markets with a need for music rights management
    • Develop tailored marketing strategies for different segments of music creators
    • Engage in partnerships with music schools and institutions for early-stage creator engagement
    • Leverage social media to showcase success stories and engagements within the music industry
    • Host webinars and workshops focusing on rights management and music licensing
    • Attend industry conferences to network with potential clients and partners
    • Offer introductory discounts or trials for new clients to showcase value
    • Collaborate with influencers in the music industry to reach a broader audience
    • Utilise data analytics to identify high-potential markets and tailor approach
    • Create multilingual support to cater to diverse demographic markets

  • ⛳️ Strategy 3: Strengthen business reputation and client trust

    • Consistently publish transparent reports on royalty distribution and management
    • Develop a robust FAQ and support system to assist that client queries are promptly addressed
    • Showcase testimonials and case studies from satisfied clients on the website
    • Regularly update clients on industry changes and how they impact their rights and licenses
    • Implement a loyalty program to reward long-term clients
    • Offer educational resources that empower creators to understand rights and compensation
    • Build a dedicated 24/7 support team to assist global clients
    • Actively engage in social responsibility initiatives within the music industry
    • Foster a collaborative community space for creators to share experiences and tips
    • Build and maintain a credibility seal for clients who comply with ethical music practices
music-licensingmarket-expansiontechnology-specialistmarketing-strategistclient-services-teambusiness-development-team
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Strategies and tactics for analysing real-time market data for Quickler trading

  • ⛳️ Strategy 1: Leverage real-time data analytics

    • Subscribe to a reliable financial data service with real-time updates
    • Utilise data visualisation tools to track live asset price movements
    • Set up alerts for significant market movements to capture trading opportunities
    • Analyse historical data to identify patterns in quick price changes
    • Incorporate AI analytics for predicting immediate market trends
    • Develop a dashboard with key performance indicators and metrics
    • Engage in continuous learning of advanced data analysis techniques
    • Utilise APIs for seamless data integration into trading platforms
    • Regularly update and maintain models for data accuracy
    • Collaborate with data scientists for sophisticated market insights

  • ⛳️ Strategy 2: Implement short-duration trading methodologies

    • Learn the fundamentals of scalping and momentum trading
    • Attend workshops or webinars focused on rapid trading strategies
    • Conduct backtests on historical data to validate techniques
    • Develop a set of criteria for entering and exiting trades
    • Create a checklist to evaluate momentum and trend strength
    • Utilise technical indicators like moving averages for signal verification
    • Employ chart patterns that are favourable for short-term gains
    • Monitor news and events that could impact asset volatility
    • Establish an efficient communication system for time-sensitive trade actions
    • Review and iterate techniques monthly based on performance outcomes

  • ⛳️ Strategy 3: Optimize risk management and trading performance

    • Define risk parameters with specific stop-loss levels for each trade
    • Utilise position sizing calculators based on account size and risk tolerance
    • Maintain a trading journal to document all trades and their outcomes
    • Regularly analyze trading logs to identify mistakes and areas of improvement
    • Implement automated stop-loss orders to cap potential losses
    • Diversify asset choices to balance risk across different markets
    • Develop a stress-test scenario plan for potential market downturns
    • Set periodic review sessions to assess risk management practices
    • Incorporate feedback from successful traders in the trading community
    • Utilise simulation software to practice strategies without financial risk
real-time-datarisk-managementdata-scientisttraderanalytics-teamtrading-team
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Strategies and tactics for implementing performance management

  • ⛳️ Strategy 1: Define performance management framework

    • Identify key performance indicators (KPIs) that align with company goals
    • Develop a clear process for cascading objectives throughout the organization
    • Create a performance appraisal cycle and timeline
    • Design a template for performance reviews and evaluations
    • Outline a process for ongoing feedback and coaching
    • Formulate guidelines for setting measurable objectives
    • Define competencies and skills required for management roles
    • Evaluate and select a suitable application to support the process
    • Develop a communication plan for introducing the framework to staff
    • Set up training sessions for management on the new framework

  • ⛳️ Strategy 2: Implement objective and KPI setting

    • Organize workshops to teach managers how to set SMART objectives
    • Create alignment meetings between departments to ensure coherence
    • Establish a review panel to validate objectives and KPIs set
    • Provide templates for consistent objective setting
    • Encourage collaboration between managers to share best practices
    • Set quarterly check-ins to monitor KPI progress
    • Utilize software tools to log and track objectives
    • Create a support system for troubleshooting issues with KPI setting
    • Run a pilot program to test the effectiveness of the KPI setting process
    • Collect feedback from managers to refine the objective setting process

  • ⛳️ Strategy 3: Develop feedback and evaluation processes

    • Train managers on effective feedback techniques
    • Frame a structured system for delivering constructive feedback
    • Develop a performance review questionnaire
    • Include self-assessment components in evaluations
    • Create a peer-review mechanism to complement manager evaluations
    • Integrate 360-degree feedback for comprehensive insights
    • Schedule regular one-on-one meetings for feedback delivery
    • Design a feedback loop to ensure continuous improvement
    • Analyze feedback data to identify trends and areas for improvement
    • Set up follow-up actions from evaluations to ensure accountability
performance-managementkpi-settingmanagerperformance-analysthuman-resourcesmanagement-training
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Strategies and tactics for developing Strategic Mapping Using Diagram

  • ⛳️ Strategy 1: Compile Strategic Initiatives

    • Gather key strategic initiatives from organisational departments
    • Organise initiatives into relevant perspectives: financial, customer, internal process, and learning and growth
    • Engage stakeholders to validate and prioritise the initiatives
    • Define clear objectives associated with each strategic initiative
    • Align each initiative to the overall organisational vision
    • Identify interdependencies between different initiatives
    • Establish key performance indicators for each strategic initiative
    • Review existing strategic maps for inspiration and improvement ideas
    • Engage a diagram software specialist to assist in visual representation
    • Seek feedback from stakeholders on drafted initiative compilation

  • ⛳️ Strategy 2: Design Strategic Mapping Diagram

    • Select a diagram tool that allows for easy sharing and editing
    • Create separate layers for each strategic perspective in the map
    • Use standard shapes and colour codes to represent different elements
    • Input strategic initiatives and their key action points into the diagram
    • Connect related initiatives with lines to show relationships and dependencies
    • Incorporate arrows to indicate the flow of activities and their direction
    • Annotate the diagram to provide clarity and context for each element
    • Ensure the diagram aligns with the organisational objectives and vision
    • Make provision for regular updates and version control of the diagram
    • Seek feedback from a cross-section of employees to refine the map design

  • ⛳️ Strategy 3: Implement and Communicate the Strategic Map

    • Introduce the strategic map to all employees through a formal presentation
    • Share the diagram on a collaborative platform for continuous access
    • Instruct managers to align team goals with the strategic map
    • Develop an FAQ guide to address common questions regarding the map
    • Schedule regular review sessions for updates and improvements
    • Encourage departments to integrate the map into planning activities
    • Use the map to track progress and report on strategic initiative outcomes
    • Conduct workshops to train staff on how to utilise the strategic map
    • Implement a feedback loop for ongoing improvement of the map
    • Celebrate milestones achieved as outlined in the map with staff recognition
strategic-mappingdiagram-visualizationdiagram-specialiststakeholderorganizational-planningstrategic-development
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How to track your Performance Management strategies and tactics

Having a plan is one thing, sticking to it is another.

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.

A tool like Tability can also help you by combining AI and goal-setting to keep you on track.

More strategies recently published

We have more templates to help you draft your team goals and OKRs.

Planning resources

OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:

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