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Vantic 2017-12-28T16:05:20+00:00

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VANTIC CHORALIA ®

VARIANCE ANALYSIS TECHNIQUE FOR IMPROVING COMPETENCIES

Results 100%
Competences 100%
Performance 100%
Success 100%

VANTIC PERFORMANCE TOOL

Development of individual performances is of great importance in order to improve company’s results. All companies know it and many invest time and resources in complex appraisal performance processes and intensive training plans.

But many companies do not know which skills really “bring” the results. What are the risks?

  • The training activities follow historical and standardized models, but then they do not bring the desired results.

  • The competences models are not always consistent with the company’s strategic objectives.

  • It is not possible to calculate the “ROI of training”.

  • Talents are not always placed where they would produce the best results.

Vantic, Choralia’s exclusive performance management tool, allows to:

  • Identify the performance indicators and the skills that more contribute to reach excellent results and to predict their effect.

  • Indicate clearly the areas of development of people and managerial actions for the results imprevement.

  • Decide the most useful and productive training activities.

Vantic integrates with strategic analysis and company performance management evaluating the skills of the people (managers or collaborators) who have to perform them daily, through a specific analysis process.

  • Identification of the most important business objectives for the organization – for example: acquisition of new clients.

  • Key Performance Indicator or “business driver” analysis, that is the fundamental results to reach the strategic objectives – for example: improvement in the percentage of success with the opening of new negotiations.

  • Definition of the Key Success Factors, which means actions that have a fundamental impact on the KPIs – for example: better qualification of the name in the prospecting list.

  • Evaluation of the coherence between strategy and existing skills model.

  • Statistical correlation analysis between employee performance and performance indicators, such as customer satisfaction, financial performance or other operational measures, through articulated and reliable statistical systems, which means a clear indication of the skills that explain those results.

  • Development of performance improvement plans through training, coaching, organizational strategies.

vantic1Choralia Vantic’s method of correlating performance between collaborators and performance indicators occurs through statistical systems such as multiple regression. The analysis includes 3 types of indicators:

  • The type of correlation, positive, indifferent or negative, defined with the correlation index.

  • The modality of the correlation, between competences and results, through the mathematical model obtained.

  • The strength of the correlation, in other words how much a competence or a set of skills determines the result, defined with the index of determination. The results may typically present a high or low correlation scenario.

vantic2In the case of a highly correlated scenario, it is possible to define the exact impact of a competence and the training dedicated to it on the results and the related investment plans.

In this example, 66% of the result, measured in terms of the numerical base of the client portfolio managed by the accounts, depends on their skills.

Of these, 49% is determined by the ability to manage the customer portfolio, carefully planning the time invested on them;

27%, on the other hand, depend on credit management practices, which are very expensive in terms of time spent and only 16% of pure prospecting qualities.

This result has positively influenced the network’s efforts and investments towards a more efficient management of relations according to its potential.

Some experiences

  • Banca Lombarda (UBI Banca): measurement of skills with 360 ° and identification of training investment priorities.

  • Calcestruzzi: analysis of the sales network performance and analysis of the impact on business indicators.

  • Edison: measurement of managerial skills in Project Management and identification of training priorities and coaching with respect to the main productivity indicators.

  • Finanza & Futuro: measurement of Team Manager skills and identification of key competences for group results.

  • Johnson & Johnson: analysis of team performance and identification of training and organizational intervention priorities.

  • Luxottica: analysis of the performance of the worldwide sales network and organizational orientation.

  • Mellin – Milupa: analysis of the performance of the sales network according to the perception of the company’s climate.

  • Philips: measurement of competences and performance analysis of the sales network.

Find out more

<strong>Luca Ornati</strong>
Luca Ornati
After finishing an MBA in Madrid he enters in Choralia. Among his duties, the one to reinforce the newborn ViVI Projects division, focused on project management.

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