Most companies do their best to set goals for the month and the quarter. However, they don’t always do a good job tracking the results along the way. This can lead to goal deadlines being pushed back or not achieved.
One way to track your progress is by using Key Performance Indicators (KPI’s). KPI’s are predictive measures that you track on weekly basis that will ultimately drive goal achievement and keep everyone on the team accountable for their results.
Here are some ways having KPI’s in place can improve a company’s performance and management:
1. Improve Decision Making
Having accurate measurements is priceless in any business and will help the business owner/manager make the most informed decision possible.
2. Improve Business Execution
When is company is actively measuring results they are more likely to execute and achieve the results they want.
3. Help Clarify Expectations
Prioritising some numerical targets and key performance indicators enables managers to communicate their employees in a clear way.
4. Direct Peoples Behaviour
Most employees operate on the following assumption: “Tell me how you will measure my performance every week, and I will behave accordingly”
5. Focus Attention
Having KPI’s in place helps your employees focus on the right things and be less likely to get distracted on low priority tasks.
6. Promote Consistency
Activities and outcomes that are not measured regularly tend to fluctuate up and down and this can lead to negative implications for the quality of your results.
7. Make Performance Visible
You can only manage what you measure. Keeping the scores visible to the team shows how well various parts of the business are working. It will also show who is performing well and who is struggling.
8. Provide Objectivity About Performance
Have measured information enables you to manage by facts. It’s not about who is busy or working hard. More importantly, it’s about looking at what they achieved.
9. Help You To Give Clear Feedback
Holding people accountable for achieving the target level of performance is vital in ensuring the company is on the right track. You must give clear feedback about what actions need to be taken and provide support to you team to help them achieve these results.
10. Live Dashboard
KPI’s should be graphed on a dashboard to show current score and historical trends every week. The scores should be colour coded so the performance can be easily understood at a glance. Using the Traffic Light concept is easy for everyone to understand (Green = Good, Yellow = OK, Red = Bad).
As you can see there is countless benefits to using KPI’s that will lead your team and business to great success.
If you would like more advice on how you can implement KPI’s in your business complete our short expression of interest form or give us a call on 01 891 6220 as we would be happy to help.
Team building is a term often associated with large corporate organisations only, but that should not be the case. Whether you are a small, medium or large business, the importance of building a great team cannot be underestimated for your long-term success. The quality of the work you do will never exceed the quality of the team behind it.
Team building exercises are one the key factors in creating a really great team, and they don’t have to be expensive! Team bonding brings people together by encouraging collaboration and teamwork. Simply taking employees out of the office helps groups break down barriers, eliminate distractions, connect with each other and have fun.
One of the most powerful reasons for team building is to get results. By introducing team bonding events that are fun and motivational, your team will learn important skills like communication, planning, problem-solving and conflict resolution. They will also learn to work better together as a united and loyal team with a common goal.
Heres how team building activities can help you achieve better results from your employees:
- Networking, socialising and getting to know each other better
Making friends in the workplace is one of the best ways to increase productivity in the office. Building friendships will increase the moral in the office and help resolve everyday workplace issues.
- Teamwork and increasing team performance
Team building activities are especially great when it comes to projects that involve teamwork. By completing team building activates together, employees get a much better understanding of each other’s strengths, weaknesses and interests. This understanding helps them to work better as a team.
Good, healthy competition has been proven to increase productivity. By channelling that increased productivity into a fun, inclusive team building activity, employees can bond in a way not possible by other means.
- Celebration and Team Spirit
After any sports teams wins a major championship they celebrate and have fun. This motivates them to want to win even more. This is similar to team bonding. After a day of fun and celebration employees are motivated to achieve more in reward for a fun day out.
- Collaboration and the fostering of innovation and creativity
People tend to have a larger imagination when they are around people they are comfortable with. Successful team building activities not only bring people closer together but also help to lead more successful creative workplace ideas.
- Communication and working better together
It will come as no surprise that communication and working better together is one of the key reasons for team building activity. Every employee wants a friendly work environment, where people are comfortable and happy to talk and work with anyone.
Successful team building activities will result in a more comfortable, successful workplace environment for any company large or small.
To learn more about team building, join us at our next workshop How to Create A High Performance Team, Friday 27th November. Click here for more information and to register you place today.
I recently watched an interview with Sir Richard Branson and one quote really stood out for me. He said: “A company is just people.” This could not be more true. When building a successful business, it’s so important to remember that it’s the people behind the brand that matter most. If you hire a great team and really look after your employees, they in turn will look after your customers and help build your business.
Here are some of our top tips to build a great business with great people:
Get the right people on the bus
It is vitally important that if you’re going to succeed in business you need to have the right people on the bus, and in the right seats. In some businesses there are people who give out about the team they have, yet do nothing about it. As a business owner/manager it is your job to help improve your team and if that does not work it’s your job to move them on and go find the right people.
T-E-A-M – Together Everyone Achieves More
When it comes to building a great team, the acronym for team “together everyone achieves more” couldn’t be more true. When adding a new team member it’s critical to know they are the right fit for your company and will make a positive contribution to achieving your overall goal. Conversely, if you hire somebody who’s not working towards this goal, they will drag everyone back and effect the overall performance of the team. This leads back to the importance of having the right people on the bus.
Hire Slow and Fire Fast
It’s so important that you learn how to recruit the right people. Here a few tips when it comes to recruiting.
– Think about it…
If a team member is under-performing and you cannot get them up to speed with additional training, you need to consider their future in the organisation. If the issue cannot be resolved and the employee is not the right fit for your company, as difficult as it may be, it may be time to move them on. It may seem hard at the time but in the long term it’s the right thing to do, both for you and them.
– Take your time hiring…
If you interview a selection of people for a role and there are no stand-out candidates for you, don’t just hire the best from a bad bunch – continue your search until you find the right person that will make a positive impact on your business.
– Always keep a look out…
As a business owner you never know what is around the corner and when you will need a new employee so always be on the look-out for great people to join your team.
Remember a business boils down to a team of people all working towards a common goal that they’re all excited about achieving. If you build a great team they will build a great business. It’s all about getting the right people on the bus, all with the same destination in mind.
If you would like more advice on how to to hire and build a great team for your business, join us at our next workshop How to Create A High Performance Team, Friday 27th November. Click here for more information and to register you place today.
Technical skills can only take you so far, what you really need in order to climb the success ladder, are leadership skills. With the exception of the few who are born great leaders, the majority of us needs to nurture the right set of skills to be able to lead well. The focus of this post is to to tell you how to improve your leadership skills, and we start by listing down some of the primary traits you need to work on.
1. Be Likeable
Most employees complain of a grumpy boss and the lack of a positive work environment. The boss being not likable has also been identified as one of the major factors for people to consider switching jobs. Being likeable is therefore integral in the corporate environment. Appreciate people’s efforts, have a sense of humour, offer advice as needed – your employees should see you as someone they want to learn from.
2. Listening Effectively
For a leader, one of the most important skills is listening. You won’t be able to get feedback from the employees without listening skills. However, be mindful of the non-verbal communication as well. To determine what people really mean, you should be able to read gestures and body language well.
3. Dealing with Difficult People
Disciplining your team members when they are not doing well is tricky. Resolve the problem while it’s still fresh. Speak to the responsible person alone. Even if you do reprimand them in private, do not humiliate them in public. Give them a chance to explain, and by all means avoid, getting petty and personal.
Integrity is one of the qualities you need to work upon if you want to improve as a leader. Whether or not something is in your personal best interests, should be an irrelevant factor if it doesn’t reflect integrity as a leader; you need to be a role model for your workforce.
The standard of successful leadership has shifted from exerting authority to influencing people. Think about actions you can take to be more influential if you want to improve your leadership skills.
If you would like more advice on how to improve your Leadership Skills please complete our short expression of interest form or join us at our next workshop How to Create A High Performance Team, Friday 27th November. Click here for more information and to register you place today.