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On February 5th, Dr. Bilal Jordan founder and CEO of Performology, addressed the Rotary Club of Nashua, regarding software that allows organizations to increase performance by inspiring and motivating employees to exceed company goals.
Dr. Jordan was raised in Baton Rouge and is a medical doctor. He always enjoyed business, however (beginning with his first entrepreneurial start up, selling Blow Pops in the school bus), and before entering medical school he worked part time at his family's insurance company. After medical school, he decided to come back to the family business with an eye towards streamlining and automating parts of it. In the meanwhile, his now-wife was doing her residency at Dartmouth, here in NH, and when they got married, he relocated here. Dr. Jordan was inspired by what he had done with his own family's business to design the application which Performology now provides to its clients.
According to Dr. Jordan, 95% of employees don't understand their company's goals and objectives, and over 50% spend their time on activities that don't move the company closer to achieving those goals and objectives. Performance management is a continuous process of providing feedback to drive results, which clearly outlines goals, objectives and rewards on a daily basis, not quarterly or annually. It's very transparent, engaging and motivating.
Dr. Jordan pointed to 4 key ways a company can improve their performance management:
- Quantify- identify and quantify each employee's contribution to the bottom line
- Cultivate Strategic Alignment - everyone has a goal structure that mirrors the company's goal structure
- Real Time Transparency and Measurements - everyone can see where they are to goal
- Incentive Compensation - clear and in real time, and tied to their own performance and the company's performance
With Performology's application software putting these four things in place, CEOs get increased engagement of their employees into the company's goals as well as improved accountability.