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Align Metric Triggered Actions/Thresholds to Plans with Assigned Personnel and Due Dates
Performance metrics that drive no action provide little or no value to an organization. To be truly effective, performance measures must individually or collectively prompt action whereby an opportunity is seized upon or a risk avoided. Thus, high-quality organizational performance measures are directly linked to actions – but what actions, performed by whom, within what timeframe?
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About the Author
Nathan Ives is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.
Because resources are always limited and there is no free lunch, too much of any one thing can be bad.
Performance measures reflect the organization’s successes and shortfalls over extended periods of time. Well-maintained metrics include a periodic performance analysis summary capturing underlying drivers and associated follow-on actions. These summaries, however, are typically overwritten with the next analysis rather than being preserved; robbing leaders of critical lessons learned information that could support future performance improvements and more rapid decision-making.
Organizational performance measures drive behaviors but, in order to be effective, the information they provide must be known and acted upon in a timely manner. Today’s business leaders can easily be overwhelmed with information; obscuring critical performance metric action prompts. Furthermore, the fixed publication frequency of performance monitoring reports may preclude leaders from receiving action-prompting information in a timely manner. Automating performance notifications, triggered at the time of occurrence, can help alleviate these issues.
Federal, state, and local governments regulate almost every aspect of the business environment. While many requirements necessitate one-time actions, others govern ongoing business operations. Performance measures dedicated to monitoring compliance with regulatory requirements and possessing thresholds tailored to ensuring timely, preemptive corrective actions prevent noncompliance, provide regulatory margin, and minimize management distraction.
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