Working by objectives, especially in the era of hybrid work, can be a significant competitive advantage for companies. To support this organizational model, it pays to have an MBO management software such as Altamira Performance.
Indeed, the assignment of SMART objectives to employees, the evaluation of their performance, and the calculation of rewards and bonuses are key components of the Management by Objectives process.
Altamira Performance allows companies to build a fast and interactive system for MBO management that increases transparency and employee engagement by delegating the results and rewards calculation to the software.
Our MBO software allows you to digitally reproduce your evaluation rules and to share them transparently with employees and managers.
The customizations are endless; for example, you can select the number of approval steps, the professional figures involved in the process, or the optional addition of an entry gate (a minimum goal the company needs to achieve for the rewards to be recognized). You could also utilize the platform’s potential to generate goal assignment letters that can be signed using our e-Signature feature.
Setting few and simple standards and sharing them with the employees improve the clarity of the process and encourages a high adoption rate.
Our MBO management software allows you to assign different types of objectives (e.g., corporate, team or individual) to each employee and to determine their impact on the final result.
You could choose to provide a list of predetermined goals or to leave it up to managers to define them together with the employees. For each objective, you’ll also be able to specify a minimum and maximum value, as well as their impact on the reward calculation.
Corporate goals are usually financial, while individual ones should reflect each employee’s priorities and be easy to quantify.
Our MBO software guides users through the assessment process using digital workflows, which can be fully customized to include multiple approvals, mid-term reviews, automatic notifications, updates, etc.
Meanwhile, the platform will utilize the new achievements entered to calculate the completion percentage for each objective. It will also calculate a global value for the performance, as well as the bonus percentage and the corresponding monetary reward earned by the employee.
Reports and statistics can be easily generated to analyze the goal achievement rate within the company and the total amount paid out in rewards.