For the next 3 months, I will be busy with a new project, (partnering with Triangle Minds), in reviewing and amending/creating the client’s company of new performance measurement, hence I will try to share as much as information with regards to this process.
What gets measured gets done
I heard this phrase while working in Shell from one of my senior manager and from that moment onward I was obsessed with measurement and assessment! In fact, I had a campaign with this exact theme, which brought the team to achieve a world class IT help desk operations.
Why Performance Measurement? From my personal experience, once you have a measurement in place, you will create some kind of a scorecard, so that you can always refer to the progress of your score. Once you achieved the desired target, your senior management will further challenge you on whether the target set is benchmarked with world class industry and you tend to find some ways or means to get them assessed.
However, performance measurement is not about a personal preference. Why do a company need a performance measurement?
In a nutshell, implementing performance measurement in one company, should help the company to align their daily activities to the company’s strategic objectives. At the end, the company will be able to achieve its bottom line target, that is PROFIT.
Choosing the right metrics is critical to the success of implementing performance measurement. It can lead to managers and employees will make the right decisions and take the right actions that enable the organization to maximize its performance.
Nevertheless, the road to good metrics is fraught with pitfalls. As your endeavors to become more metrics-driven, beware of errors in the design and use of metrics. If wrongly measurement being set, it can destroy value and encouraging inappropriate activities.
Although there may never be a single perfect measure, it is certainly possible to create a measure or even multiple measures which reflect the performance of your business.
You will learn more in my next update. Stay tune to know more.