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The Pitfalls of Using KPIs #2minutetips

The very first in our series of two-minute tips is on KPIs and how the get the best out of them in your organisation.

Our top tips:

1. Cut down your KPIs to the most essential for running your business

  • Link them to your strategy to measure the long term business direction

  • Move short term KPIs down the organisation for the day-to-day management

2. Think hard about what your measures are really telling you

  • What do the indicators actually show?

  • What are the drivers of financial data?

3. Instil positive impact in your KPIs to you don't end up chasing the number

  • Kep an eye on whether your KPIs are driving bad behaviours

  • Use KPIs to identify trends over time and avoid them becoming targets