The KPI Institute at the Talent & Diversity Leadership Forum Riyadh 2015
A while back The KPI Institute proudly announced its knowledge partnership and support for the 3rd Talent & Diversity Leadership Forum edition in Riyadh, a very important and relevant event for Saudi Arabia. We considered it important to provide you with a context, to show you why was it so important for the Saudi Arabia Ministry of Labor to take action into launching such a program and what was The KPI Institute’s contribution in the 3rd edition of the event.
The KPI Institute supports the change
We support the idea of diversity being a key driver to innovation and that adopting new perspectives could engage organizations into a more sustainable development of the economy.
Even though this subjects receives increasingly more attention, the real drawback is represented by the gap between the united efforts and the real-life economic development.
For example, Saudi Arabia achieved great strides in educating women in recent years, but this has not resulted in a proportionate increase in female employment rates. In 2013, Saudi women unemployment rates stood at 36 per cent — despite nearly 80 per cent holding university degrees.
The KPI Institute`s workshop
The KPI Institute, Business Research Specialist, Paul Albu facilitated a workshop on Linking Variable and Merit Pay to Organizational Performance as a part of our knowledge partnership with the Talent & Diversity Leadership Forum.
This workshop was designed to offer a clear overview on how to integrate a variable and merit pay system into a performance management system, beneficial to achieving the desired objectives.
The steps emphasized during this workshop:
- Get managers buy-in;
- Create and implement a performance management system architecture;
- Ensure employee acceptance;
- Set clear goal definition and unambiguous performance measures that are clearly linked to employee efforts;
- Implement individual performance plans.
“For an organization that desires to stay competitive in the market, attract and retain top performers and set a clear message regarding the direction of the organization, variable pay systems may be the key for success. Changing the company’s actual system and implementing a variable pay plan requires commitment and a deep understanding of how the systems works, from both the employees and the managers.” Paul Albu, Business Research Specialist at The KPI Institute.
Every organization strives to ensure productivity, improve communication and deliver better results. Furthermore, all these strategic objectives cannot be attained without our employees. This is why, it is important to concentrate on the reward systems and their strategic position in our organization.
About Us
The KPI Institute is a research institute specialised in business performance. It operates research programs in 12 practice domains, ranging from strategy and KPIs to employee performance, and from customer service to innovation performance. Insights are disseminated through a variety of publications, subscriptions services, and through a knowledge platform available to registered members. Support in deploying these insights in practice is offered through training and advisory services.
