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Posts tagged KPIs
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.

https://www.youtube.com/watch?v=6VomL-Ub6Lc&t=2s

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

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When not to measure - why business performance management can fail

Today we've been reading up on the views of Dr Chris Ford FCA, fellow of the ICAEW and academic advisory member to the Finance and Management Faculty Committee.

Some great insight into why sometimes the measurement systems we use don't always result in the behaviours our businesses need, but also what you might do about it.

Download a copy here: When not to measure

 

In summary the key headings were:

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