Imagine if your team had specific measurements of success. I don’t mean the basic financial measurements, rather I mean the ones that lead you to better understanding of where the challenges and opportunities are hidden within your company.
Effective measurement makes performance visible and defines expectations. These assessments will lead to the identification of potential
improvements within the company. Key Performance Indicators (KPI’s) help align people to protect the company and nurture its growth. They must be:
- Relevant – We need metrics that reflect strategic goals. KPIs will not only reinforce the company’s goals, but they will also be personalized based on role in the company and employee feedback. Being able to see measurable information that is geared toward a certain goal will allow the person to realize their impact on the company.
- Actionable – Measurement directs behavior. The use of visual aids and summarized data will help promote goal oriented behavior. A goal oriented mindset will encourage the identification of opportunities thus prompting action. The completion of individual and company goals requires us to connect the dots.
- Dynamic – We need up to date information to make informed decisions. When our company experiences growth, our employee’s goals will be forced to change to meet new demands. KPI reports can easily be audited to align with the ever-changing daily goals of a company. As priorities change, so will the items we monitor.
Accomplishing the company’s strategic goals requires decisions being made based on verified and measurable information.