Performance Management – a core strategy for ECGC by CEO Osmond Davy –

Performance Management (PM), although a challenge, is seen as a strategic imperative by East Caribbean Group of Companies (ECGC). We, the Executive Leaders of ECGC also see PM as a core enabler to optimize performance and accountability. Moreover, we consider it to be a core management practice and a key ingredient to market competitiveness and our own relevancy, particularly as competition tightens.

To this end, we have engaged Joachim and Associates Ltd, an HR Professional Firm, to assist us is determining the PM model suitable to our organisation, providing a road map for performance management; ultimately navigating the Performance Management process.

In doing so, our management team over a period of several days was able to re-examine our strategic direction and to determine the priority areas of focus relative to: People, Operations, customers and Financial performance.

In introducing our new performance management system, we have been careful to take a nuanced approach that clearly takes into account our unique contextual needs, implications and our business case for change. Methods and tools have been selected that would better understand what to measure organizationally, and how to apply the results at the individual and team levels

While PM can become confusing initially, it can be considered as the lynch pin between strategy, execution and HR practices. It is meant to give employees insights in company strategies, methods and processes. Importantly, it is also meant to integrate and focus efforts and outcomes of teams and employees, drive better accountability, quality, productivity, development and reward and recognition.

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