Feeling or guessing that your company is going great and knowing it are two entirely different things. Everyone needs a solid compass -whether it is a crew member or the captain. And Key Performance Indicators (KPI) are an excellent way to get a definite sense of direction.
What you’re actually doing, the significance of your work, and who you’re answering to is sometimes unclear or misinterpreted. And KPIs can help every manager, every team member, get a more precise picture of both the day-to-day and the overall corporate performance as long as we’re talking about the right KPIs. After all, it’s about accountability -and what metrics you’re taking under consideration makes all the difference in the world.
If everyone on the team can access the performance stats, it provides them with a constant and clear image.
Transparency and consistency are also key elements when it comes to accountability. Constant changes regarding the set of KPIs used are not helpful to anyone. If everyone on the team can access the performance stats, it provides them with a constant and clear image.
Finally, regular updating of the KPIs is essential. If the updates are taking place, e.g., once a week, the progress path, the necessary movements of all involved parts, and the overall sense that the company is steering towards the right direction are there for everyone to see and appreciate.
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