Many of our colleagues and managers feel cynical about performance measurement because of their past experiences and current struggles. So we often need to reinvigorate their support before we can get the training, the systems and the resources required for developing more meaningful performance measurement.
Trying to find the right strategic KPIs can feel like getting lost in a maze.
Often it is hard to see what is most important, to understand what the real meaning is, and to know what the organization is trying to achieve.
Do you struggle to know where strategy ends and execution begins? Does your strategy get caught up in a whirlwind of activity, without being quite sure what has been achieved? You are not alone. If you want to do something differently this year, read on.
Most organizations have weak corporate Key Performance Indicators (KPIs). They rarely align to strategy, give evidence of impact, or offer actionable feedback. If they can’t do these things, they can’t really be called “corporate” KPIs.
Ask leaders if performance measurement is critical to their organization and most of them will clearly answer “yes”.
But rarely do they question what their organization’s motivation, processes, or ROI were when they started creating the key performance indicators (KPIs).
One of the worst problems with corporate strategy is the excessive use of corporate jargon, fuzzy language and “weasel” words. It causes business and non-profit leaders all kinds of issues …
Clients and PuMP® Blueprint workshop participants often ask “who should be on our strategic planning team? Measures team? Objectives team?
We often feel confident that if we find the perfect mix of individual traits and skills necessary, we’ll have a stellar PuMP® Measures team – take a stats whiz, someone who loves data, the manager of the goal, a couple extroverts, someone with an MBA and Dream Team assembled, right?
How do you feel when you hear the word ‘target’ at work? Angry? Nervous? Fearful? Excited? Motivated? Competitive? That’s the funny thing about performance targets: we often have an emotional response to them, based on whether or not we believe we can meet them. Are these emotional responses healthy?
It’s time again for the quarterly strategy review meeting and the executive team has gathered to discuss progress. Most CEOs have become used to receiving the following report-outs:
- A financial report comparing standard financial measures from this quarter to previous quarter and to the same quarter last year
- A round of good news about the major action items that have been completed or business won
- And some major action items that are not “on-track” because the VP intimates the team needs more time and money.
Organizations have been struggling to set and measure their goals for as long as the planning industry has been around. Add the rapid growth that can occur in tech companies and goal setting can become even more difficult.
Leaders seem to invest an inordinate amount of time in developing strategy and plans, but neglect to provide a systematic approach and direction for their employees to successfully execute and measure the impact. Yet, more and more leaders say they want to make more evidence-based decisions.