As August closes, that special time for so many of us begins - the start of the new football season. Having had to manage a whole six weeks without, once again weekends and Monday nights have purpose, and lunch breaks are occupied with the big questions; just who should start in my fantasy team?
What always strikes me about the league is the imbalance within it. It's not groundbreaking to say that some teams have more money than others, but what astounds me is how far some teams are able to go with so little, juxtaposed with how others underperform with so much.
It all goes back to performance, and ties in with the 'Moneyball method,' subject of the recent film with Brad Pitt. It looks at wealth disparities within baseball, and concludes that teams with a smaller budget can compete with better financed teams by focusing on maximising the potential of each player, and incorporating that player's strengths into team tactics. Subjective judgements mean that some players are overused, others underused, and many used in the wrong capacity; by correcting these differences, teams can gain an edge over their competitors.
Now the links with football here are obvious; if a purely theoretical player costing £35million doesn't contribute 700% more than one costing £5million, then he isn't performing as well as his value dictates he should. It's easy to conclude that the more expensive player's performance has been overstated, and that he won't contribute what is expected of him, which will stifle the rest of the team and their ability to succeed.
And it is here where we can draw connections with business and performance. Within any organisation, some employees are undervalued, whilst others are overstretched, and even overvalued. Whilst these discrepancies occur, business cannot hope to achieve their full potential, and will continue to fall behind the competition.
Here is where the critical nature of performance management processes comes in. Without accurate systems in place, which can successfully monitor the performance of employees, businesses continue to mismanage resources, and fail to achieve maximum efficiencies. By developing effective performance systems, however, and ensuring the right traits and qualities are being measured in your business, any company can cost effectively drive itself ahead of the competition, by using the right people in the most efficient way.
When the Moneyball method was implanted originally in baseball, the poorest team in the league broke the American league record with 20 consecutive wins. With good performance management comes great performance, and this allows any sports team or company, regardless of size or budget, to get ahead of the opposition.
To learn how to develop a more effective, efficient and accurate performance management system, come along to our two day conference, taking place on the 11-12th October. For more information, click here: http://www.cipd.co.uk/cande/performance-management/
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