Auditing Business Performance

Business performance audits are a valuable tool for understanding and improving a company's ability to perform its business. Audits can be complex, time-consuming and in some cases expensive, but the results can be invaluable.

Auditors typically use techniques to measure the performance of an organisation in three areas: financial audits assess how effectively an organisation controls its costs; organisational audits assess how effectively it manages its workforce; personal factors audit evaluates how well leaders are developing their best people.

This post will describe the process of conducting a business performance audit and providing guidance on what outcomes you could expect from such an exercise. We will examine the various tools and techniques that you can use to understand a company's performance and the challenges that you will face.

What is a business performance audit?

A business performance audit is an assessment of how effectively an organisation performs its core business functions or processes. This could include:

The business process of talent development should be considered as part of the broader process of operating as a high performing organisation, which in turn involves business strategy, people management, service delivery, financial management and other aspects of management. The following section will outline these issues in more detail.

2. What is talent management?

Talent management is the process of developing and nurturing talent at every level within an organisation in order to create the competitive advantage that drives enterprise success. Talent refers to the potential performance that individuals can deliver on behalf of an organisation, which typically means a combination of hard and soft skills. The development of people at all levels within an organisation should be considered as one aspect of business strategy and leadership, rather than as "human resources". 

To read more about Talent Management at Work please click here: http://www.peoplefirstgroup.com/2013/06/talent-management-at-work.