Scorecard
Implementation Consulting
This consulting service from NSS helps banks and credit unions
in implementing an enterprise strategic deployment of Performance
Management Scorecards. This effort is focused on implementing a
performance management tool that is transformational for your business.
The metrics for each job function are ones that are cascaded down
from the top level metrics for corporate strategy. This exercise
focuses every individual in the organization on their role in implementing
the larger strategy.
• The engagement begins at the highest level of the financial institution.
Once we fully understand your strategy the cascading effort
begins to select metrics for all job functions. Following that effort
are the following tasks:
• Establish the duration for a Scorecard. Some might be quarterly
and some might be annually. Often the lower level jobs
in the organization chart have Scorecards that are quarterly.
• Weight metrics relative to one another. Not all
metrics are of equal importance.
• Sett stratification levels used to highlight attainment
levels. This color coding of results helps focus management on
performance levels
and can
figure into the calculation of incentives
tied to a Scorecard.
• Target setting for each metric. This is one of the more time consuming
tasks. Targets need to be a stretch taking the individuals
to new performance frontiers. They also need to be fair and realistic.
• Establish how incentives and bonuses will be calculated.
• Develop the process for updating Scorecards with actual performance.
• Determine the process for publishing ongoing results.
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