Carpenters know well the adage “measure twice, cut once”, but the majority of organizations don’t have the luxury of this approach. Compounded by the age of Big Data – with the significant increase in volume, variety, velocity, and veracity of data today – management has more reporting opportunities than they know what to do with.
Where did all of the value go?
Reporting is supposed to deliver insights and opportunity for improvement. But most spend time on delivering vs. acting on these insights. Lots of headcount supports pulling weekly and monthly reports. Reocurring meetings between stakeholders and process owners are spent on understanding ‘what happened’. Benchmarks and key metrics are reviewed, but there is little change.
Focus on the key drivers for your desired outcome
Effective leaders realize performance management is more about engaging people to drive outcomes versus reporting the accurate numbers. Leading organizations move past simply reporting averages towards focusing on the driver for true change – their people, being more engaged, and paying attention.