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