The vital role of government in nurturing stakeholders’ future

RIHAM MAHMOUD SAAD Senior Strategy and Corporate Performance Specialist Government - Finance Field

Riham is a Senior Strategy and Corporate Performance Specialist with over 15 years of experience in corporate performance management in the public sector. She holds a master’s degree in Information Systems Management from Zayed University. Moreover, she has acquired certification as a KPI Professional and Practitioner and a Nanodegree in Data Analysis and Visualization from Udacity.

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The government is pivotal in driving a nation's progress and prosperity, especially amid economic uncertainties, from crisis management to environmental sustainability, innovation, and social welfare. This interview with Riham Mahmoud Saad, a Senior Strategy and Corporate Performance Specialist, explores how strategic practices can foster a proactive and supportive government.

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1. As a senior strategy and corporate performance specialist, certified KPI professional, and practitioner, can you provide specific examples of key performance indicators (KPIs) utilized within the finance sector or your company to monitor and assess performance effectively nowadays?

The KPIs frequently used in the financial industry include return on investment (ROI), debt to gross domestic product (GDP), aggregate expenditure outturn, budget deficit, adherence to budget calendar, and forecasting accuracy. These indicators help assess an organization's financial health, profitability, and operational efficiency and are helpful for monitoring and evaluating performance.

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2. How do you approach setting financial targets and allocating resources in alignment with the finance organization's strategic objectives?

Financial institutions follow a strategic approach to setting goals and allocating resources. This includes assessing the company objectives, reviewing benchmark results, and conducting trend analysis. Institutions should distribute resources to enable them to achieve their strategic goals, assist in performance optimization, and promote financial prosperity.

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Trends?

3. What key trends have shaped the public sector in recent years?

Many recent trends have shaped the public sector, including digital transformation, data-driven decision-making, customer-centric services, adoption of automation and artificial intelligence (AI) within operations, and focus on environmental, social, and governance (ESG) and sustainability initiatives.

These trends aim to enhance government organizations' transparency, efficiency, and accountability.

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4. What strategic approach would you advise governmental entities to counteract increased volatility and unpredictability?

To manage governmental entities' increased volatility and unpredictability, organizations should adopt a strategic approach that includes diversifying revenue sources, developing backup plans, performing scenario planning, enhancing agility and adaptability, fostering stakeholder collaboration, investing in technology and data analytics, and promoting proactive risk management practices.?

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5. As per the World Economic Forum's "Future of Jobs Report 2023," technology and digitalization are driving the decline of clerical and secretarial roles. What is the government's role in developing citizens' future job skills?

The government is crucial in helping citizens develop the skills required for their future employment. It funds educational programs, collaborates with industries to identify emerging skills needed, supports lifelong learning initiatives, provides opportunities for reskilling and upskilling, encourages entrepreneurship, and develops supportive policies and frameworks.

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6. As stated in a recent Forbes article, the public sector faces potential talent loss due to changing compensation and work setup preferences. What can governments do to attract and retain talent?

To attract and retain talent, governments can implement various initiatives, including competitive compensation packages, flexible work arrangements, career growth opportunities, recognition and rewards programs, a work-life balance atmosphere, opportunities for creativity and innovation, and the assurance of transparent selection and recruitment processes.?

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7. What role will governments play in the AI revolution?

Governments will play a crucial role in the AI revolution by launching ethical and regulatory frameworks, ensuring a responsible deployment of AI, addressing privacy and security concerns, nurturing AI research and development, promoting AI literacy, and addressing the social impact of AI to ensure equitable benefits for all.

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Strategy and Performance Management Practices

8. What would you advise multilateral institutions to reach effectiveness and alignment in strategy planning and implementation?

I advise multilateral institutions to enhance communication and collaboration among parties to achieve efficacy and alignment in strategy planning and implementation.

Moreover, they should prioritize common goals, streamline decision-making processes, conduct regular assessments and reviews, and promote transparency and accountability. Institutions should also leverage technology for efficient communication and encourage active participation and engagement from all stakeholders.

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9. What are the key success factors for governments to build consistency in strategy and performance management?

There are many key success factors for governments to build consistency in strategy and performance management: first, precisely setting and aligning objectives and effective communication and engagement of key stakeholders; second, robust data collection and analysis, performance-based incentives, and continuous monitoring and evaluation.

Lastly, through adaptive and resilient decision-making, capacity building, and a supportive organizational culture that encourages accountability and learning from both successes and failures.?

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10. What are the most common pitfalls in strategy and performance management in governmental institutions? What can be learned from it?

Inadequate goal setting, poor data quality and utilization, and a lack of alignment between strategy and budgeting are the most common pitfalls in strategy and performance management in governmental institutions.

Other examples are resistance to change, limited transparency, and insufficient monitoring and evaluation. Learning from these pitfalls involves embracing evidence-based decision-making, fostering a culture of learning and improvement, investing in data capabilities, promoting accountability, and engaging stakeholders in the process.

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11. What are the five characteristics of a high-performance government?

The five characteristics of a high-performance government are effective leadership and governance, strategic planning and goal alignment, data-driven decision-making, a culture of innovation and continuous improvement, and strong stakeholder engagement and collaboration.

These qualities enable governments to achieve efficient service delivery, performance excellence, and positive societal impact.?

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12. What is the critical performance management tool used in your organization that drives decision-making? (Is it the strategy plan, the strategy map, the balanced scorecard, or an executive dashboard?)

The critical performance management tools that drive decision-making include the strategy map, strategy plan, and enterprise performance management system that produces executive dashboards.

The strategy map visually communicates the cause-and-effect relationships between strategic objectives, while the strategy plan outlines goals and initiatives. Executive dashboards provide real-time performance data, enabling data driven decision-making aligned with strategic objectives.

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13. If you could convey the essence of government performance in three indicators, what would those be?

If I had to sum up the essence of government performance in three indicators, they would be:

1) citizen satisfaction and trust levels, which reflect the quality of services and governance

2) efficiency and effectiveness in resource utilization, which showcases the responsible use of public funds

3) social and economic outcomes, which measure the government's impact on society and the economy.

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This article is based on the original content authored by Kimberly Tilar, published by The KPI Institute, and has been adapted for this publication.?

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Adrian Brudan

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