Have you ever wondered why it is so important to measure the ingredients in a recipe? It’s funny how mom’s macaroni salad always tastes the same. When you follow the recipe, the results never change. In business, the recipe for success cannot stay the same. As we have all experienced over the last several months with the pandemic, the business climate has shifted for everyone. Leaders lean into measuring the financial KPI’s (key performance indicators) that drive the business such as revenue growth, profitability, operating cash flow and burn rate. Often companies overlook the non-financial KPI’s and how other areas are performing such as the condition of their culture, operations, strength of their leadership team, effectiveness of their training program and how they are servicing their clients.
How do you measure these five components and understand the performance gaps in any of these areas? We provide many of our clients with a Company 360 assessment. This performance gap indicator gathers this confidential data from the entire company. Statements are presented across three scales for participants to respond with their level of agreement to 45 questions. Demographics for this assessment may be turned on or off for such information as gender, tenure, level of customer interaction and role depending on the client’s interest and anonymity assurance.
The team members’ feedback will allow a deep dive into these five key components that drive an organization. We will measure culture based on the written and unwritten set of values, beliefs, and behaviors which determine how your company’s employees interact with one another, with customers, and your vendors. We assess operations through the interpretation of the processes, systems, and procedures in place today required to consistently conduct your business at the highest levels of efficiency and effectiveness. Pointed questions will be asked on how the leadership provides direction, clarity, and accountability which inspires and empowers others to reach the company vision. Insight on how your current training and development program is working and the process of providing leaders and teams the tools, time and guidance to master their development based upon your company’s stated performance standards. Lastly, we will measure the service level and the ability to consistently exceed customer expectations which generates increased repeat and referral business by providing exceptional service.
Once everyone has completed this nine-minute assessment, we compile the results into a diagnostic report that provides a comprehensive benchmark to identify and measure company-wide performance gaps. Our team guides you in creating a plan to improve the top three concerns that are generated from the report. After the plan is executed, we send out a pulse assessment to quantify performance improvement, confirm ROI and implement a regular interval company checkup. What ingredients are you using to ensure your recipe for success?
