Setting The Right KPI’s Drives The Right Results
Practice Management & Quick Tips Videos

Setting The Right KPI's Drives The Right Results

September 6, 2017

by Tony Vidler  CFP logo   CLU logo  ChFC logo

key-performance-indicatorOne of the best management tools anyone has is the Key Performance Indicator – or KPI – as it has the potential to drive the right behaviors that lead to the right results for a practice.  The caveat to that is that the KPI’s must actually be about the right things.

 

Too often KPI’s are created which do not provide clarity about what functions matter most to a team member and the result is confusion and misplaced effort.  That leads to frustration and inefficiency for all concerned as inevitably good people waste effort on the wrong things and then become incorrectly viewed as some sort of disappointment or under-performer.  The problem more often than not is that the very things that they were told were “the most important things” are in fact nowhere near the most important things that they should be focussed upon.

 

Designing the right KPI’s comes down to understanding where the intersection is between what success is for the business AND what success is for the individual team member.  A good KPI doesn’t just reflect the behavior and focus that measures success of the individual, it overtly contributes to the success factors for the business as a whole.

ln this weeks quick tips video we talk through the fundamental concept which underpins the design of the right KPI’s and show how that drives the right type of results with a working example…

Watch the video to learn more…

 

You might also be interested in this related article:
How To Address Underperformance In Your Business
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