How do you know if you are measuring the right things? There are two questions you need to ask.
Performance measurement is about results measurement. The purpose is to monitor the outcome of the work completed and gauge progress. Unfortunately, some associate performance measurement with “being watched.” This negative connotation leads to a self-serving mindset. To get your team to embrace performance measurement, start slow and build the culture… [More]
Results monitoring serves as a tracking mechanism to reflect performance. Superb results imply that work is being carried out in excellence. Poor results indicate that there are hiccups somewhere along the way. A savvy manager would learn about the excellent execution and seek to replicate success. At the same time,… [More]
A manager for a benefit administration team wants to assess the workload and productivity of her team. The team has data on the volume of transactions it processes. However, there has been no tracking of the time spent on various tasks. The manager gathers her team of six to discuss… [More]
Industry benchmarks are used widely to compare relative performance and gauge where your company stands. Beware the validity of the comparison. You might be comparing apples with oranges. Results are comparable when companies run their business exactly the same way. We know that is hardly the case. Product offerings, size,… [More]
This is the time of the year when most companies issue their annual financial statements. In light of gathering insight on what financial metrics companies use, I decided to glean through the annual reports I received. The pages and pages of financial results and ratios are fairly similar across businesses…. [More]
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