Recent developments in artificial intelligence (AI) and machine learning (ML) have profoundly impacted data analytics, allowing for informed, real-time decision-making and improved strategy execution. As interest in data analytics among C-suite executives increases, it is crucial to understand how it can be used to empower strategy and performance management.

The KPI Institute, a leading global research institute specialized in business performance, is proud to announce the publication of the 26th issue of Performance Magazine, which goes on a deep dive into how data analytics is being used to transform the way companies operate, develop business strategies, and manage performance. This issue also includes best practices and case studies on integrating innovative technologies such as AI and ML into an organization’s operations. 

Our cover story features insights from Madhur Mayank Sharma, senior director and head of AI development at SAP Asia PTE LTD, who shared his thoughts on how to develop a forward-thinking, dynamic data strategy. In addition, we also feature a plethora of experts in the field of data analytics, each of whom has provided a unique perspective on how organizations can create a data strategy and establish a data-driven culture.

Furthermore, our very own experts from The KPI Institute provided answers to questions on data analytics, such as:

• How can organizations bridge the knowledge gap between data analysts and nontechnical stakeholders and decision-makers?
• How can managers and executives stay up-to-date with the latest advancements in data analytics?
• What are the most important KPIs for measuring the ROI of data analytics initiatives?

This issue also includes in-depth articles on topics such as how to leverage data for sustainability strategies, how to use business simulations to practice decision-making and problem-solving skills, how to identify whether or not the data gathered is of “good” quality, and how businesses can avoid falling prey to hype by adopting technologies that actually matter. 

Aspiring data analytics professionals will also learn a lot from our Career Insights section, which features an article detailing the importance of building a strong statistical foundation. Readers can also peruse our recommended resources, which include books, podcasts, webinars, and more.

Ensure your organization doesn’t fall behind on the latest data analytics trends impacting business, strategy, and performance management by checking out the latest issue of Performance Magazine today! You can get a digital version via the TKI Marketplace or order a printed copy from Amazon.

Editor’s Note: This article is authored by Islam Salahuddin, a Business Research Analyst, and Len, the Chief Editor at The KPI Institute and originally published in the 25th printed edition of PERFORMANCE Magazine.

The KPI Institute achieved another year of record-breaking success in 2022, with 5,553 individuals participating in 336 course deliveries. This marks the seventh consecutive year of growth for the global research organization dedicated to setting standards in strategy and performance management-related professions. Compared to 2016, the number of participants in The KPI Institute’s Premium Certifications grew fivefold, up from 898.

With 19 years of experience providing performance solutions, The KPI Institute has successfully trained thousands of professionals in strategy and performance management-related disciplines with the support of its 40 partner organizations worldwide. The organization offers a variety of course delivery options, including virtual classrooms, face-to-face groups, and self-paced eLearning classes.

Live online courses remain the most popular delivery method, chosen by 3,664 participants. This trend has continued for the third year in a row since the launch of live online courses in 2020, far surpassing the number of participants who opted for in-person sessions, totaling 1,889. 

“We are thrilled to report another year of exceptional growth. This success can be attributed, in part, to the organization’s expansion of course offerings. With this, we remain committed to providing top-quality training and insights through our research programs and publications. In addition, I would like to thank our partner organizations that are contributing to fulfilling our vision,” Cristina Mihăiloaie, business unit manager of The KPI Institute’s Research Division, said.

The courses offered by The KPI Institute are designed to enable professionals and organizations to adapt and succeed in today’s business environment. Some of the certifications are Certified KPI Professional and Practitioner, Certified Strategy and Business Planning Professional, and Certified Performance Management Systems Audit Professional. 

Check our partner organizations here, or apply to become a partner organization of The KPI Institute.

In the previous article, Linh Do,  Head of Professional Services at The KPI Institute Vietnam, highlights the geopolitical, environmental, and economic challenges that impact Southeast Asia. Understanding these factors is crucial for grasping the local dynamics and uncovering regional growth opportunities. In this article, Linh will delve into potential measures that can be implemented to enhance performance management in the region. 

Improving performance management in Southeast Asia involves diversifying their supplier base, investing in innovation, enforcing sustainable practices, leveraging AI technologies, and upskilling employees.

Implement risk management strategies. To mitigate the further impact of global recession and trade disruption, companies should pay attention to risk management in planning their strategy and manage them accordingly. This begins with implementing proactive risk assessment measures to identify potential threats that might negatively affect their business and the weaknesses within their operation that might strengthen those impacts. Subsequently, companies can employ various remedies to address these vulnerabilities. Organizations can secure a steady supply of raw materials by evaluating alternative sourcing options, establishing backup suppliers, and exploring local or regional partnerships while mitigating the risks associated with production delays and cost fluctuations.

Capture and manage the impacts on ESG-related matters. Businesses will need to manage this aspect through effective strategy planning associated with performance management practices, such as setting objectives to identify opportunities for sustainable business growth, reduce carbon footprints, and implement sustainable supply chain practices. Some KPIs to consider may include # Initiatives to promote environmental responsibility,  % Current production lines that are environmentally friendly, and % Energy produced from renewable sources.

Adjust performance management practices to stay productive in the new work arrangement. To ensure remote workers remain engaged and productive while maintaining a sense of connectedness and collaboration with colleagues, companies like Lazada have implemented remote work policies, providing online training programs and running digital Employees Net Promoter Score surveys to support their engagement and professional development. In addition, companies should move the focus from measuring process KPIs such as # Work hour to finish a task to more output and value-oriented KPIs such as # Tasks done on time that meet the requirements.

Utilize new technologies effectively. An excellent example of this is companies like Grab and DBS Bank have implemented AI technologies to streamline operations and improve customer experiences. To succeed in AI implementation, companies need clear performance metrics. Depending on their goals, such as cost reduction or lead time improvement, relevant KPIs can be used, like % cost saved or # lead time using AI technology.

Identifying the optimal approach to maintain resilience in this highly dynamic environment is challenging, yet managing them to ensure relevancy and effectiveness is even more arduous. Therefore, it is important to equip yourself with comprehensive knowledge and skills to facilitate these processes. 

Elevate your competitive edge by enrolling in The KPI Institute’s Certified Strategy and Business Planning Professional and Certified Performance Management Professional courses, allowing you to gain insights into these subjects and maintain a leading position in your field.

Linh Do, Head of Professional Services at The KPI Institute Vietnam, shared insights regarding macroeconomic trends and their worldwide influence on performance management practices in the 2023 Business Pulse: 5 Trends Impacting Strategy and Performance Management webinar. In a two-part series of articles, she delves into the trends impacting Southeast Asia and explores potential measures to strengthen performance management in the region.

Identifying the economic, environmental and geopolitical issues affecting Southeast Asia is crucial for understanding its local dynamics and opportunities for growth. Here are some of the emerging trends affecting the region’s landscape.

The global recession.  The ongoing trade crisis between the US and China has led to disruptions in the supply chain: delayed production, longer delivery times, and a lack or excess of stock of specific materials. The region’s trade is correlated with industrial production cycles and any downturn or recession in the global economy, which will affect the market. 

The role of Environmental, Social and Governance (ESG) in strategy planning. ESG is another point worth mentioning and has received a lot of attention lately. In 2023, 30% of companies in ASIA-based 2000 (A2000) capture ESG-related goals in their strategy, and this figure is expected to rise to 40% in 2024. Moreover, third-party assessments will heavily consider ESG factors, with approximately 20% of A2000 companies prioritizing these risks over security, financial, and operational risks. This change is driven by the transition of sustainability performance disclosure regulations from voluntary to mandatory, demonstrating the region’s strong commitment to fulfilling the United Nations’ 17 Sustainable Development Goals by 2030.

The shift in work culture. This shift impacts performance management practices in SEA. Traditionally, the region has been characterized by a culture of long working hours and a focus on face-to-face interactions. However, as work culture continues to shift towards remote work and flexible working arrangements, this could significantly change how businesses operate and manage performance in the region. 

The rapid advancement of artificial intelligence (AI) technologies. This is another trend impacting performance management practices in SEA as companies in the region started utilizing AI to reduce heavy labor costs and stay up-to-date with market developments. However, this will also require upskilling employees to utilize these technologies effectively. 

Adapting to changes and emerging trends in managing performance will be challenging, and there is no one-size-fits-all solution. However, some techniques can fast-track and make the process easier for organizations. If you would like to learn about them, join The KPI Institute’s Certified Performance Management Professional course to stay ahead in the race!

In recent years, businesses have placed a greater emphasis on sustainability. However, pursuing sustainable business as a primary strategy differs from merely engaging in sustainable practices. The Performance Magazine Issue No. 25, 2023 – Sustainability Edition presents in-depth analyses and practical perspectives on the latest issues and trends in incorporating sustainability into operations and strategies. 

Moreover, this issue provides guidance for organizations looking to successfully adopt sustainable practices as well as the challenges and opportunities involved in the process. 

Gracing the cover of this issue is  Eelco van der Enden, chief executive officer (CEO) of Global Reporting Initiative. He shared updates on sustainability reporting practices worldwide, discussed the importance of the participation of small and medium-sized enterprises (SMEs) in sustainability reporting, and emphasized how sustainability creates value for stakeholders and becomes crucial for long-term success.

Readers will also gain valuable insights on how to foster a culture of sustainability in organizations through exclusive interviews with sustainability experts from different companies, such as Kearney, Almarai Group, FIFA World Cup™, and Accenture. 

Furthermore, experts from The KPI Institute will provide answers to pivotal sustainability questions affecting organizations today:

• What are the key drivers of sustainability in organizations, and what role does the performance management system play in creating a sustainable organization? 
• What KPIs are a MUST in reporting sustainability matters? 
• How can an organization create meaningful sustainability reports?

The magazine includes articles highlighting best practices in strategic planning, strategy execution, employee performance, benchmarking, data analysis, and data visualization. Moreover, the latest edition now includes a new section called Career Insights, which features the article, “The power of process thinking for performance management professionals.” Additionally, readers can access a variety of informative resources on strategy and performance management in the Recommended Resources section.

To expand your knowledge on sustainability as part of strategy and performance management, be sure to check out the latest issue of Performance Magazine. You can download the digital version through the TKI Marketplace or order a printed copy from Amazon.

Is your organization prepared to navigate the evolving global landscape?

The KPI Institute will host a webinar titled “2023 Business Pulse: 5 Trends Impacting Strategy and Performance Management” on April 12, 2023, at 22:00 PM GST, live on Webex. The event is tailored for executives and professionals in strategy and performance management seeking to position their organizations for success in the current business landscape.

The participants will gain key insights into the global trends that are influencing strategy and performance management practices. They can also share their on-the-ground experiences and seek advice from the experts. In addition, they will receive a complimentary copy of The KPI Institute’s Annual Global Brief 2023.

The speakers of the webinar are Islam Salahuddin and Cristina Mihailoaie. Islam the data expert at The KPI Institute’s Research Division, bringing together knowledge in data analysis and business research. He possesses valuable experience in conducting market research and business analysis, focusing on the infrastructure sector. His academic and background in mass communication and data-driven journalism further enhances his ability to provide unique insights and perspectives to his work.

As the business unit manager of the Research Division at The KPI Institute, Cristina is responsible for developing the strategy for the research business line and overseeing the development of new educational products. With extensive experience in the field, she has presented at numerous international conferences, such as the Human Resources Shared Services Summit and Expo in Chicago (USA) and the HR Directors Summit in Birmingham (UK). Her presentations offer valuable insights into optimizing performance management systems to provide added value to organizations.

Don’t miss out on this opportunity to learn how to stay ahead of the competition in the ever-changing business environment. You can register now by completing the form: https://buff.ly/414TJpV

For inquiries, contact:

Alaa Safwan

Event Manager

Email: alaa.safwan@kpiinstitute.com

WhatsApp: +961 71 590 467

Learning how to achieve organizational excellence is now easier with the accessibility of performance trends software, digital content, research reports, and learning opportunities today.

The KPI Institute’s Publishing Team curated the following resources related to trends, best practices, and solutions in strategy and performance management.

Software

Peopleforce

PeopleForce (peopleforce.io) is a cloud-based management system  that incorporates tools, functions, and software solutions for a company to automate  all HR & Recruitment related processes.

Sisense Fusion Platform

Sisense Fusion Platform (sisense.com/product) is a  Business Intelligence solution allowing to  transform data into insightful interactive dashboards. It facilitates the decision-making process through key features and user-friendly interfaces that make analytics and visualization tools easy to work with. 

Tableau Software

Tableau (tableau.com) is an intuitive platform that enables a robust Business Intelligence infrastructure and data-driven decision making. Its characteristics make it easy to integrate with legacy systems and to do a deep dive in any data dimension. 

Cascade 

Cascade (cascade.app) is a strategy execution platform that provides solutions to effectively manage the complex nature of multiple strategic plans. The user-friendly and easy to customize interface enables a real-time tracking of key initiatives and milestones of a project. 

SAP Analytics Cloud

SAP Analytics Cloud is a cloud-based system that integrates BI, augmented and predictive analytics, and planning capabilities. It offers advanced analytics across businesses as the analytics layer of SAP Business Technology Platform. SAP Analytics Cloud has unique connectivity to SAP applications and seamless access to heterogeneous data sources. This enables users to combine analytics and planning.

ADP Workforce Now

ADP Workforce Now is the only cloud-based, all-in-one HR solution that adapts to your work style. Human Resource Management, Payroll, Benefits, Talent Management, Time & Labor Management, Learning and Analytics, and Return to Office capabilities are all available through ADP Workforce Now.

Qlik Sense

People can make better data-driven decisions and take action with Qlik Sense. This system provides enhanced analytics for every business need, from visualization and dashboards to natural language analytics, customized and embedded analytics, reporting, and alerting. The innovative associative technology combines human intuition with AI-powered insights to provide unrivaled data combining and exploration capabilities. 

Books

OKRs, From Mission to Metrics: How Objectives and Key Results can help your organization achieve great things

By Francisco S. Homem de Mello

Implemented and promoted successfully by some of the most significant brands in the world, like Google, Accenture, Twitter, and many others, OKRs is a goal setting tool that has become the modern alternative to performance management systems. Through meaningful research and by combining  theory with best practices, the author provides an insightful approach on how to better understand and implement OKRs in your organization. Available on Amazon

Performance Measurement for Local Government Management

By David N. Ammons

“Performance Measurement for Local Government Management”’ is packed with valuable insights to gain an overview of critical management practices. This book guides readers towards a  practical framework and provides examples of techniques for successfully executing a performance measurement system that can guide local governments to achieve  meaningful outcomes for their communities. Available on Amazon

See Sooner, Act Faster: How Vigilant Leaders Thrive in an Era of Digital Turbulence (Management on the Cutting Edge)

By George S. Day and Paul J. H. Schoemaker

In the middle of digital turbulence, the ability of an organization’s leadership to predict risks, detect opportunities, and respond promptly is critical to its survival. Strategy experts George Day and Paul Schoemaker’s book provides tools and an action plan with suggestions for leaders to encourage vigilance and adaptability in the workplace. The authors believe that acting wisely is essential in the era of digital instability, so in See Sooner, Act Faster, they recommend methods for constructing dynamic option portfolios. 

Stop Overthinking: 23 Techniques to Relieve Stress, Stop Negative Spirals, Declutter Your Mind, and Focus on the Present (Mental and Emotional Abundance)

By Nick Trenton

Thinking too much or too long about something is known as overthinking. This book understands your experiences, the difficult circumstances you have put yourself in, and the consequences of your mind getting drowned in anxiety and tension. This book will guide you through the challenges of overthinking, using thorough and ways based on scientific approaches. These steps aim to help you untangle spirals of unhealthy thoughts, build a habit of mind decluttering, and break the negative patterns you feel and think. 

Build: An Unorthodox Guide to Making Things Worth Making

By Tony Fadell and Roger Wayne (Published by HarperAudio)

This book is an advice encyclopedia compiled with personal anecdotes, practical guidance, and unique insights into some of the 20th century’s most influential items and people. Fadell and Wayne treat this book as “a mentor in a box” catering to young graduates and professionals, and CEOs who wish to advance in their careers. 

Podcasts

Performance Management and KPIs – Past, Present & Future

By Aurel Brudan 

Organizations can gain a competitive advantage through enhancing Performance Management practices. Aurel Brudan, CEO of The KPI Institute, highlighted concepts related to Performance Management and its dynamics over time in this podcast. He also delves into interesting trends in Performance Management. Available at kpiinstitute.org/education/podcasts/

How I Built This with Guy Raz

By Guy Raz

Guy Raz is the founder of Built-it Productions and described by The New York Times as “one of the most popular podcasters in history’.” This podcast is all about the ideas and stories of innovators and entrepreneurs. If you want to begin an entrepreneurship journey or want to know how others work, this podcast is a must in your playlist. Available on Apple Podcasts

Thinking Like An Economist

By Betsey Stevenson & Justin Wolfers

This podcast empowers you to make better economic decisions. Leading economists Betsey and Justin introduce you to big ideas in economics and show you how they are implemented in real life. Available on Spotify

Research

State of Strategy Management Practice Report – 2022

With over 18 years of experience in providing performance improvement solutions, The KPI Institute will bring its sought-after performance management training courses in Southeast Asia in 2023. Each course is packed with top-notch resources, exclusive toolkits and frameworks, innovative solutions, and opportunities to network with industry peers and specialists.

By attending the classes, professionals and organizations in Malaysia, Indonesia, Vietnam, Thailand, and Singapore as well as in Australia can expand their knowledge and skills, learn practical application of best practices, and get valuable insights from esteemed performance management experts.

Among the courses available in Southeast Asia are the Certified Balanced Scorecard Management System Professional, Certified KPI Professional and Practitioner, Certified Strategy and Business Planning Professional, and Certified OKR Professional.

The KPI Institute’s certification programs have been awarded to experts from various industries, such as oil and gas, constructions, finance, retail, airlines, healthcare, telecommunication and many more. In a highly demanding and increasingly agile world, the certifications ensure that professionals are ready to meet their goals and overcome challenges and achieve progress.

The journey to excellence starts with you.

Explore The KPI Institute’s Performance Management Training Courses schedule in Southeast Asia.

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The KPI Institute is a leading global research institute specializing 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 globally through training and advisory services.

For inquiries, contact:

Sasikala Annamalai 

Senior Business Development Manager 

E: sasikala.annamalai@kpiinstitute.com 

M: +60 12 591 1366

The KPI Institute will conduct a series of face-to-face performance management classes in Dubai, United Arab Emirates in 2023. The Certified Courses are designed to improve organizational and individual performance through first-rate resources, industry best practices, and guidance from esteemed performance management consultants.

The KPI Institute’s certification programs have been awarded to experts from various industries, such as oil and gas, constructions, finance, retail, airlines, healthcare, telecommunication and many more. In a highly demanding and increasingly agile world, the certifications ensure that professionals are ready to meet their goals and overcome challenges and achieve business excellence.

Among the training courses available to professionals in Dubai are the Certified Employee Performance Management Professional, Certified KPI Professional and Practitioner, Certified Strategy and Business Planning Professional, and Certified Agile Strategy Execution Professional.

It is time to take your professionalization to the next level.

Check out The KPI Institute’s Performance Management Training Courses schedule in Dubai.

**********

The KPI Institute is a leading global research institute specializing 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 globally through training and advisory services.

For inquiries, contact:

Teodora Gorski

Managing Director MENA

E: teo.gorski@kpiinstitute.com

M: +971 55 787 6427

Alexandru Muntean

Head of Customer Engagement

E: alex.muntean@kpiinstitute.com

M: +40 747 060 997

The World Health Organization (WHO) observes World Mental Health Day on October 10 each year. 

With this year’s theme, “Make mental health and wellbeing for all,” WHO believes that people with mental health conditions and advocates can come together to celebrate the progress made in this matter and speak  about what needs to be done “to ensure Mental Health & Well-Being becomes a Global Priority for all.”

According to WHO, the cases of people experiencing anxiety and depression increased by 25% in the first half of the COVID-19 pandemic, where the gap in treatment for mental health disorders has expanded as mental health services have been severely interrupted. Professionals or employees were one of the populations who were affected the most.

Based on report, 55% of 1,425 U.S. workers surveyed share that their mental health issues have been affecting their productivity on the job since the pandemic began. The same report shows that workers suffering from mental health issues increase to 46% (during the pandemic) from 39% (pre-pandemic), and more than 10% suffer from serious mental illness. 

How To Performance Manage Employee With Mental Health Concerns

WHO believes that strengthening awareness and response to mental conditions at work, especially for those with supervisory responsibilities like managers, is a key component of protecting and promoting wellbeing at work. They recommend mental health training for managers and employees and programs for people to learn stress management techniques and lessen mental health symptoms.

Training in mental health promotes greater awareness of how occupational pressures affect mental health and may be controlled. It also assists supervisors in recognizing and responding to supervisees who are experiencing emotional distress. Aside from mental health training, here are a few things managers can do to support employees’ mental health while managing performance:

1. Cultivate a culture of connection by checking-in with employees, especially now that many individuals work from home, it may be more difficult to spot the warning signals of distress.
2. Enhance managerial competency. Focusing on employees’ strengths while promoting efficiency and performance is an essential skill to develop.
3. Build a strong system for employee management. Managers should still adhere to performance management practices when managing employees who have mental health difficulties. They must modify this procedure when mental health concerns are present to balance fairness.

In establishing a competitive employee performance management system, The KPI Institute offers a Certificate in Employee Performance Management Maturity Assessment. This micro-certification course examines the key components required to develop an employee performance management system in businesses and also uses a maturity model to evaluate the system’s complexity.

Enrolled professionals in this course have the chance to access the Employee Performance Management Maturity Model Framework v2.0 and learn first-hand how to weigh the upsides and downsides of organizational processes and develop ideas for improvement in six important areas:

• Performance Planning
• Performance Measurement
• Performance Review
• Performance Recognition
• Performance Improvement
• System Governance

Establish the proper framework for defining, evaluating, and motivating performance in your organization; invite your colleagues and enroll now! For further information, visit https://kpiinstitute.org/