Performance Management and Successful Business Turn-Around [A Case Study]
AIHR Learning Bite: Performance Management and Successful Business Turn-Around [A Case Study]
In today’s Learning Bite you will learn how to leverage performance management and drive successful business turn-around by looking at the real-life example of a mid-sized consultancy company.
This company, Xylon, is a mid-sized consultancy firm that was able to implement a new performance management policy that focused on three key elements. First, a new HR approach. Second, Individual training & coaching. And third, a changing hierarchy. These were, grosso modo, the three key elements Xylon used to drive better business results.
Despite the fact that this big change in company culture led to a lot of initial tension and people quitting, it resulted in Xylon being regarded as one of the most innovative firms in the market within a few years after implementing this new policy and creating a much more stable stream of revenue, ensuring its competitiveness for the future. This case study shows how important the strategic alignment of HR and the rest of the business, and the vital role that performance management can take in this process.