Welcome to the fourth edition of “Benchmark”. This month we take a look at the looming financial recession and the need for improved efficiency in relation to performance management. We also take a look at the Community Consultations and getting the community involved in a time of uncertainty. Why and how? We hope you enjoy this edition and appreciate your ongoing support of this publication.
With warm regards
Business Development Manager (UK)
The Looming Financial Recession and the Need for a Performance Culture and Further Efficiency Savings
It's on the lips of everyone around the globe at the minute, the Looming Global Recession, that is! The media have taken to it like they take to a celebrity entering rehab. With all the gloom and doom being generated by the media hype and failed financial sector, how can the public sector turn the crisis into a positive in relation to performance management and efficiency savings, to ensure long term strategic viability for the community as a whole?
Economic stability is not certain in any business environment including the public sector at present. As financial institutes go bust and borrowings and savings are under lock down, borrowing becomes a necessity, when there is in fact no money to borrow. Performance management and the relay of progress information to communities of interest in times of financial crisis become difficult yet required tasks, to keep the communities fears at bay. Difficulties can unfortunately rear their heads in relation to performance management, especially when the right tools and framework are not in place to manage these issues.
With tougher efficiency targets being imposed by central government, now is the time for the public sector to shape its internal work force for a culture of performance. Sir Peter Gershon, the author of the 2004 efficiency review, said "there were still further savings to be made though these would entail long-term transformation delivered in a tight economic climate.” (Taken from the localgov website http://www.localgov.co.uk/, 26.11.08).
Now, more than ever, technology has to be seen as a business driver as opposed to a cost centre, in the march towards efficiency savings. Most successful businesses weathering the economic crisis made this leap some time ago (e.g. Tesco supermarket, Amazon online book store, to name just a couple).
“interplan® for Latrobe has meant many things, the main being a vessel for change within the organisation (Phil Medley Latrobe City Council, Melbourne Victoria)”