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]
Measurement involves logic and numbers. The more granular and precise you get, the measurement better reflects specific outcome. We deal with all sorts of measurement in our daily lives, from the volume of water we consume to the gas consumption of our automobile. Professional athletes are meticulous with their calories…. [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]
A report card serves to provide information on how well certain work is done. We are familiar with the idea since grade school. I went home holding my head high with ‘A’s but fearful of being scolded when I got poor grades. In the workplace, is there a similar feeling… [More]
Connie shares key considerations for benchmarking business results.
In planning a promotion campaign, a retailer needs to determine what products would be offered, their price points, campaign duration, special sales terms and conditions, and store locations. These are customer-facing tasks. There are many other tasks. The buyer needs to source products, negotiate price with suppliers, determine purchase quantities,… [More]
Connie shares tips on how to measure intangibles.
Connie shares some problems that can arise from compensating strictly on performance. 1. Employees only focus on areas they are good at, and ignore those that need improvement 2. Employees are unwilling to accept measurement on work which they don’t have control 3. Employees will see this as a way… [More]
Connie shares 5 ways that organizations can protect their knowledge. 1. Document processes and know-how 2. Pay attention to cross-training employees 3. Find ways to use the knowledge so it is not forgotten 4. Provide continual development 5. Retain talent
Connie shines a light on some of the biggest mistakes she sees organizations make. 1. Not explaining what the company’s strategic direction is 2. Not paying attention to execution 3. Using performance measurement to penalize workers
To maximize business results, call Connie at 604-790-1220 or email us today!