The performance
bond, tagged: “Corporate Scorecard Key Performance Indicators (KPIs)”,
constitutes the key deliverables for the Upstream, Downstream,
Refineries, Gas & Power, and Ventures Autonomous Business Units and
the Finance & Accounts and Corporate Services Directorates for 2017,
serving as key business objectives that each of the units would pursue
and is expected to achieve.
The signing of the
performance bond took place at the end of a 2-day Top Management
Retreat and Performance Dialogue which ended today in Abuja.
Speaking on the
significance of the Corporate Scorecard Key Performance Indicators
(KPIs), Dr Baru said it was the corporation’s way of setting up a system
for measuring performance with a view to driving every unit and every
staff of the corporation towards achieving strategic business goals.
According to the
GMD, they form the benchmark against which the performance of each of
the Autonomous Business Units will be evaluated at the end of the year.
“These Key
Performance Indicators will be the basis for evaluating each ABU’s
performance. These KPIs are expected to be cascaded down to the
individual business units by the COOs and down to individual staff by
the respective Managing Directors and Executive Directors of the
Strategic Business Units (SBUs). At the end of the day, we are going to
add up the various inputs from individual staff, up to the SBU, to
arrive at the performance of each ABU by the end of the year”, Dr Baru
explained.
He said
subsequently, the extent of the achievement of the KPIs by each of the
Autonomous Business Units would be used to determine how much of the 13th month bonus the staff of each ABU will enjoy at the end of the year.
On the objective
of the retreat, the GMD said it was organized to review the report of
the committees set up to align the implementation of the 12 Business
Focus Areas (BUFA) with the 20-Fixes and to review recent management
policies as well as the performance of the corporation in the first
quarter of 2017.
He charged members
of the Top Management to brace up for challenges ahead with a view to
rising above them to position the corporation for profit.
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