Research On Performance Management System Of XY Power Company Based On Balanced Scorecard

The 13 th Five-Year Plan is an important period for accelerating the transformation and development of the power industry.With the steady growth of China’s electricity demand and the continuous optimization of the power consumption structure,the power industry has entered a new period of development.Compared with the State Grid enterprises,the local power companies are weak and inefficient in management,which can not form an effective system.For example,there are some problems in the performance management of XY power company.Firstly,performance management lacks the connection with the company’s strategic objectives,which can not promote the company’s strategic development;secondly,only using financial indicators to complete the evaluation of employee’s performance,can not conduct a comprehensive evaluation of employees,lack of incentives for employees;finally,lack of pertinence in performance feedback,resulting in the lack of corporate management effectiveness and the decline in strength.In this context,local power companies need to constantly improve and optimize the company’s performance management capabilities,to provide a strong guarantee for the company’s business management and strategic implementation.In this regard,based on the analysis of the achievements of performance management in domestic and foreign power enterprises,combined with the problems existing in the performance management of XY Power Company,using the Balanced Scorecard as a tool,the performance management system is designed,and the performance management scheme design and safeguard measures are put forward to ensure the smooth development of performance management.Firstly,combined with XY Electric Power Company,the main problems in strategic objectives,employee incentives and performance feedback under traditional performance management are analyzed,and the problems are diagnosed to lay the foundation for the construction of performance management system.Secondly,it draws a performance management development map based on the company’s strategic objectives,constructs a performance management system based on the balanced scorecard,designs and subdivides its four-dimensional indicator system,and uses the analytic hierarchy process to analyze and determine the weight of the indicators.On this basis,it carries out the implementation of the new performance management system.The effectiveness of performance management based on Balanced Scorecard is determined by the result analysis.Finally,according to the analysis of the performance management effect of the balanced scorecard,the paper puts forward the improvement measures and supportive strategies for the implementation of the performance management system of XY Electric Power Company,which provides a strong support for the smooth operation of the performance of XY Electric Power Company.By comparing the performance management system of XY Electric Power Company before and after the adoption of the balanced scorecard,it is found that the new performance management evaluation system not only increases the coordination between departments,improves the management level of XY Electric Power Company,but also promotes the realization of the company’s strategic objectives.Furthermore,it can provide some reference and experience for local power companies to develop performance management,which has a certain practical significance.