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Nowadays, in the highly competitive business environment, performance has become both an aim and a desideratum for companies. In order to thrive and perform well at organizational level, a company needs motivated employees.
In today’s challenging business environment, it is a prerequisite to achieve a human capital advantage in order to ensure business success. This has led to an interest in the development of tools to measure the value and impact of human capital. Some of the human capital Key Performance Indicators (KPIs) and their possible uses are listed in the graphic above.
![Performance_Reward_Systems[1]](http://www.performancemagazine.org/wp-content/uploads/Performance_Reward_Systems1.jpg)
With the end of the fiscal year approaching, companies now have the opportunity to review their performance at organizational, departmental and personnel level. The employees are, perhaps, the most important resource of an organization, as they can influence the company’s results to a large extent.
Motivation leads to better performance and improves the efficiency level regardless of the activity that is carried out. Through motivation, people usually manage to take action in order to achieve their goals at professional or individual level.
The Balanced Scorecard (BSC), designed by Robert Kaplan and David Norton in 1992 to provide managers with a way of translating strategy into a set of financial and non-financial measures, is undoubtedly one of the most popular methods used for a performance management system.
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