Scorecards
Scorecard is a key component of our NSS
XSELLerator Performance
Management System for banks and credit unions. A Scorecard is a
performance management tool that helps create focus for your people
on the key metrics that drive your strategy.
Features
Building a Scorecard: Scorecards get assigned to job roles which
can get down to an individual. In essence everyone in the organization
could have a different Scorecard with unique targets for each metric.
Scorecards can be set-up for any duration and do not have to align
with your fiscal year.
Metric Selection: The key task in Scorecard development. You need
to get this right and we can assist. This feature allow you to
define you own metrics. They can be ratios, percentages, units,
or dollars. Examples are ROA, Customer satisfaction survey results,
Mystery Shopping results, Net Deposit Growth, and Investment Services
referrals. The metric can be individual or tied to a hierarchical
level in your organization.
Weighting: Once you have selected metrics you then weight them
relative to one another. The weight is a key variable in calculating
a performance score for the metric and a balanced score for the
Scorecard. If Net Deposit Growth is weighted 40 out of 100 and
the individual is 110% of attainment then the score for that metric
is 44. Each metric is assessed the same way to get a balanced score
for the entire Scorecard.
Metric Targets: Metrics targets can be set differently for each
Scorecard and differently for each month. Modeling is facilitated
by the system letting you define a Scorecard from a previous period.
This will enable you to see how an individual would have scored
by using historical data.
Metric Actual Performance Results: Performance for sales, referrals,
and cross-sell is managed by XSELLerator. Other metric type actual
data can be imported through our Extract, Translate, and Load middleware
or entered directly through the Performance Management Portal.
We have worked with almost all the dominant core systems.
Stratification: For each metric we calculate percentage of attainment
for the current month-to-date and period-to-date. This percentage
is color coded to highlight the different performance levels. For
example, the range 0 to less than 80% color coded red, greater
than and equal to 80% and less than 100% color code yellow, greater
than and equal to 100% and less than 125% color coded green and
greater than and equal to 125% color coded blue. In addition, each
metric can have its own stratification levels based on just how
volatile the results might be.
Accessing the Scorecard: We have numerous reports that can be
accessed and printed from the Portal. However, on the main page
of the portal are the Scorecard and its results. There is a month-to-date
view and a period-to-date view.
Ranking: Since we can produce a bottom-line score for each Scorecard
we are therefore able to rank them by people who have similar Scorecards.
Typically, this is job roles that all have the same metric set
on their Scorecard.
Maintenance: Scorecard targets can be changed
during the duration of the Scorecard and we provide a renewal function
that allow
you to roll a Scorecard into the next period by the click of a
button.
Incentives: Currently the calculation of incentives based on the
Scorecard score is a custom feature. We can give you an estimate
with the licensing of XSELLerator. And if your algorithm is approved
as part of the offering going forward then there will be no charge.
Reporting: We have several reports that can be accessed from the
Performance Management Portal. Some of these are:
• Employee Scorecard
•
Scorecard Ranking
•
Metric Definition
•
Scorecard Definition
•
Stratification Profiles
|
