8 January 2013 2 Comments

Social/Digital Media and business performance

Author: yinkaolaito

Yinka Olaito is happy,excited and passionate Communications & Media specialist, Trainer and speaker. Yinka Olaito helps Profits and Non-profits with effective communication and positioning for premium service delivery and returns. Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage Consulting(Communication/digital media), African Child Education Right Initiatives(NGO) and Content Director, Africa Development Talk( online Platform for discussion on Policy, Governance, development across Africa) and Africa Foundation for Young Media Professionals

Business Performance, Business Collaboration, Social Media and corporate research, Digital Media and Business performance, Social Media and Business planningKnowledge is crucial. But applied knowledge is what helps. We constantly meet professionals who feel digital or social media has no significant impact on their lives. In the couple of days ahead, we will be discussing how social and digital media affect some professions. In this piece we will examine the impact of social/digital platforms on performance management. We do acknowledge we may not cover it all but we can set the discussion rolling while those who want more information may wish to discuss with us.

Performance management is defined as informal and formal process of planning, monitoring, and reviewing, documenting, discussing and improving performance which will result into success of the organization. For better understanding of business performance, an online writer wrote: performance management has a key role to play in improving the overall value of an organization. If performance management must do this well, there is need for effective data gathering and management system. This is why Wayne Eckerson captures Performance Management as “a series of organizational processes and applications designed to optimize the execution of business strategy’’.

With this background established, how social/digital media can helps a performance manager to become more effective.

Planning, documenting, reviewing and monitoring: From the first definition, it is obvious to all that planning, documenting and reviewing the business process is highly essential if performance manager must deliver. In data gathering, documentation and review process, social/Digital media can help in offering a global view instead of just the local and internal wisdom available to the manager. In documentation, digital media can offer useful help in electronic storage and data gathering as well as management. Also monitoring your corporate competitors is now made easy. Just scan and listen to what stakeholders are saying. In some cases, outspoken competitors’ employees may sometimes divulge vital information which can help in your planning.

Regular feedback and business performance: we do know that regular feedback often facilitates effective communication. Without regular feedback on the overall business goals, brand attribute, need for reappraisal of corporate culture especially when employees behave in a way that goes contrary to what the organization preaches, it will be difficult for performance manager to proffer accurate solutions to the problem of decrease in business fortune. One best way to get accurate feedback is to monitor what people are saying on the social/digital platforms about the brand.

Advice for business improvement: Performance manager needs to be able to advice management on the way forward. Data and lots of information analysis are very important here. Business manager can use various digital computing software to gather relevant information on customer behavior, market forces and employee attitude in other to do this well.

Reward and appreciation programmes:  One major role of performance manager is to be actively involved in making recommendations to the management on reward and appreciation programmes. This is especially so for high performing departments and individuals. To do this well, business performance manager relies on heads of departments and few colleagues’ information. Sometimes using only internal mechanism and recommendation for promotion and rewards system may be fraught with favouritism. Checking and applying digital platforms to listen to what stakeholders have to say about performance and service delivery of some employees they had cause to relate with can give accurate external opinion. This can also serve as vital addition information which may aid final decision making.

Problem solving and digital platforms: Another role of business performance manager is problem solving. Even if one has attended best courses in top rated institutions, it is now obvious that ‘new knowledge breaks’ every second. An effective business manager may need to constantly access new knowledge across the globe to solve its corporate or organization’s problems. Today the digital platforms have lots of case studies that may be of help to assist business performance manager in this regard. Being a member of relevant online groups and professional platforms may be a great resource that can deliver the magic.

Are you a business performance manager? How well do you know this truth?

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