Insights on Incentives has as its sole purpose the facilitation of thought and discussion on the subject of incentive compensation for banks and credit unions. Once a month NSS will be sending out an e-mail with one insight on the area of incentive compensation. The insights will come from our research, discussion with customers and finally, those of you who decide to offer an insight on this important sales management issue.
April 2007
Scorecards
We see more and more Scorecards, sometimes referenced as Report Cards, being used as a core Performance Management tool. Most organizations start with Branch Managers and later cascade Scorecards down to all employees. As with any Performance Management tool it needs to help propagate strategy down through the organization while maintaining a focus that impacts behavior.
The selection of measures/metrics is extremely important A measure
put on a Scorecard for a group of employees should support the top
level measures of the enterprise. In addition, the number of measures
should be limited to create focus. Having more than five measures on
any individual Scorecard will not create the focus you need to have
an impact on behaviors.
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