KPIs Archives - Bada Business

5 Key Components To Establish Powerful Performance Management At The Workplace

Summary: Performance management is an essential process to review the hard work and efforts of your employees. So how can you make it more effective and transparent?

Every business aims to make sales, generate revenues and bring in profits. Revenues and sales are made by employees that work in the company. Employees bring customers, and clients stay loyal because of your human capital.

Since so much is dependent on your employees, companies need to ask themselves how they can make their employees satisfied, valued, and happy in their workplace. Evaluating the performance of your employees is the first and most important system that you have to develop in your organization. Every lead or supervisor must be well-trained in how to evaluate the team. You can also consult with a business coach to establish effective performance management.

Many performance management models with different working models have been tested and implemented across organizations worldwide. But truly effective performance management consists of the following essential features:

Creates a clear picture.
It is a continuous process of communication.
It consists of evaluation with feedback.
It aims to motivate employees who are not performing much.

However, after COVID the work culture has undergone a huge transformation. And one of the most prominent changes is the global imposition of remote work. So how can you ensure to have performance management which is best suited to your organizational goals?

Here are 5 key components of a performance management system designed to ensure productivity in a remote workplace:

1. Revaluate Goals & KPIs

Due to the changed workplace scenario that the current global economy faces, role workloads have differed considerably, with not all equal roles having equal workloads. Thus, KPI and role should be realigned to save costs while extending support to cross-functional processes.

2. Implement Objective & Key Results Methodology

To set, communicate and track organizational goals, management can implement one of the most popular methodologies- “objective and key results”. As this is an overall approach toward goals and employee performance at various organizational levels, it can help incorporate accountability and quantitative proximity of realizable goals.

3. Set SMART Goals

With the remote work paradigm, goal-setting has become even more critical in the current economic climate. Poorly defined goals can become a cause of bad performance and future worries in a climate already marred by global crises and constant disruption.

Hence, the goals defined by the organization must be SMART- Specific, Measurable, Actionable, Relevant, and Time-bound.

4. Keep in Touch With Employees

Today when companies lay off their employees in huge numbers evoke fear within employees when it comes to their performance. Hence, management needs to understand the significance of maintaining regular contact with employees and keeping them updated on all relevant levels. Encourage them to share about their work, lives, goals, etc.

5. Place your Trust in Employees

It is important to trust your employees and subordinates and give them the privilege of clear communication, especially regarding personal matters. Whether working on-site or remotely, many aspects of human lives are unclear. Hence, having faith while everyone is struggling is a key success factor on all levels. As the remote working culture is prevalent, there may be a few employees who are unable to meet the deadlines. Assuming such employees are not being productive is a serious error of judgment.

Performance management and open feedback systems have become a core part of both our corporate and personal lives. In the end, open and transparent communication is the key to a robust and impactful performance management system, no matter what your physical location is.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.

To know more about our business coaching program, visit: www.badabusiness.com

How To Create A Winning Content Marketing Strategy For Startups?

In a world that is full of false advertising and eroding the trust of the audience, content marketing is something that should be at the core of any digital marketing strategy. Whether it is a large company or a small startup business content marketing can be a powerful tool for business growth.

Content marketing is the only type of marketing that thrives on customer`s behavior and does not cost much. What`s more? It is as profitable as paid search advertising or paid social marketing.

According to Hubspot, around 70% of marketers are investing more actively in content marketing. Why? Content marketing is a subtle way through which you are serving useful, relevant content to your potential customers to help them overcome their burning problems.

But to truly excel at delivering awesome content that is customer-centric and also aligns with your business goals, you must do more to stand out from the crowd. You must have a content marketing strategy that empowers your future goals and long-term vision of what you want to achieve.

While creating a content marketing strategy for a small startup business, entrepreneurs must begin with setting their goals.

So how can you come up with a content marketing strategy that is so enticing that helps you to grow your business? We have outlined seven key steps below that you can use to develop an ironclad content strategy for 2021:

Step 1- Identify Your Business Goals

There could be millions of reasons behind your content strategy. Maybe you just want to increase your followers, capture new search engine traffic, or you may want to only showcase your products. Hence, setting out a clear goal is vital when making a content marketing strategy.

The clarity in your goals in the very beginning will help you to analyze the effectiveness of your campaign in the future. This will not just give you a clear objective at the beginning of the process, but a solid framework too to build on.

Step 2- Discover your Target Audience

Once you have a clear objective in your mind, the next step involves who the content should we geared towards? Who is your ideal customer? There are many ways to find out and pinpoint your ideal customers. But the idea one that even the best business coach swears by is to think about demographics, age groups, geographical locations, education, lifestyle, and interests.

Entrepreneurs with small startup businesses should understand the core of their customer base. This helps you to assess the types of content that will deliver excellent results.

Step 3- Set out your KPIs (Key Performance Indicators)

If you cannot determine a way to measure the success of your content, it is highly difficult to measure the statistical data in a more meaningful way. Hence, setting KPIs, in the beginning, is an extremely important step.

Step 4- Decide Your Content Approach

Surely, there are multiple social platforms on the internet. But not every platform has your target audience. So will you use just one type of content or would you like to experiment with different mixtures? Knowing your target audience, you can consider the article, blog writing, video tutorials, short posts, reels, pictures, and a lot more.

Step 5- Establish a Content Calendar

To ensure the consistency of your business presence, creating a content calendar is vital. The best way to do that is digitally so that you can share the sheet online with all the stakeholders. You can pre-plan the content that you will like to post on special days and festivals. Do not forget to continually assess and update the sheet as your business requires.

Step 6- Content Creation & Editing Process

This step is where content turns into a reality. Look for distinct ways to keep your content flow block-free. Also, keep content writing separate from editing to reduce the chances of making any accidental errors.

Step 7- Analyze Statistics

This final step in setting up a content strategy involves measuring the success of your content and KPIs. Having statistical data is vital. However, it must be interpreted accurately and in the correct manner.

Content can boost the visibility, credibility, and reliability of a small startup business. But, a clear strategy must be in place. If you lack a clear content strategy, your approach will lack vision. So try to align your strategies with your business goals to boost the number of customers and revenue in the future.

To gain in-depth knowledge, you can take our foundational courses that come with hand-holding support. Our Business Coaching Program offers everything that you will need to make your startup business successful.