Three Keys to Corporate Sustainability
By Brian Beyst - Apr 25, 2016
Achieving Sustainability with Corporate Performance Management
Sustainability means different things to different people. To some it is an invitation to corporate social and environmental responsibility alongside its financial responsibility to its shareholders. This is the so-called “triple bottom line” concept. To others it means management of governance or social issues. But however you define it, achieving sustainability is important. In a 2010 McKinsey survey of CEOs, 50% of the respondents indicated that “corporate sustainability either ‘very’ or ‘extremely’ important in a wide range of areas including: not only new-product development, reputation building, but overall corporate strategy.”
Yet if a company does not have a workable plan to realizing their sustainability definition, it’s all just so much talk. Unfortunately, most of the public discussion on sustainable performance has missed the most vital component – the link between management’s strategy and realized results is the workforce. Developing sustainable performance in your workforce is critical, and corporate performance management (CPM) software can help you make it happen. In a 2012 article published in the Harvard Business Review, the authors discuss several key ways to keep your workforce committed to your company’s success and thriving in their jobs:
Provide Decision-Making Capacity
According to the authors, “employees at every level are energized by the ability to make decisions that affect their work.” Business performance management means exactly that. Employees are empowered to be a part of the decision-making process through the cloud-based technology available today. C-level executives can gain valuable insight from the expertise right in their own company – from the product designers, marketing processionals, and production-line managers –include their input in the planning and decision-making process.
One of the most significant causal factors in the breakdown between strategy and realized results is lack of communication. “People can contribute more effectively when they understand how their work fits with the organization’s mission and strategy.” CPM solutions provide a real-time exchange of vital information on ideas and strategies across the organization, giving your workforce the information they need to get aligned behind your strategy.
Provide Useful Feedback
Good corporate performance management software provides users with the ability to model ideas, aggregate the bottom line in dashboards and scorecards for quick visual understanding across the organization, and to receive useful feedback – all in real-time. “Feedback creates opportunities for learning and the energy so critical for a culture of thriving. By resolving feelings of uncertainty, feedback keeps people’s work-related activities focused on personal and organizational goals.”
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