Business performance measurement helps ensure that your business is meeting its goals. Measuring your business’ performance not only reveals areas that need improvement, it’s also useful in establishing management strategies, determining potential areas for collaboration, creating a budget—and comparing yourself to your competitors. Ready to get started? Then email us here.

Measuring your organization’s performance:

Start by asking yourself:

  • How effective is your business—is it producing a sufficient quantity of goods or services?
  • How does current output compare with past productivity, as well as performance throughout the industry?

The balanced scorecard framework is one method used to clarify a company’s goals, identify how to track those objectives and establish benchmarks and methods for how and when to adjust your strategy if those standards are not being met.

Evaluating employee performance:

This should take place regularly, regardless of whether on a quarterly, semi-annual or annual basis. That way, all parties are aware of when the next assessment takes place. More importantly, doing so provides a consistent means of measuring performance.

Having standards that define expected performance is an important aspect of the evaluation process. It’s also important to establish strategies and/or corrective actions to be taken if expectations are not met.

If you need to make adjustments at the management level, ask yourself:

  • Will teams need to be reorganized?
  • Will more resources be allocated to increase performance?
  • Will the company move existing resources to a department where they will be more effective?

For help creating a performance measurement plan, start by emailing us here.