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“When you have confidence, you can have a lot of fun. And when you have fun, you can do amazing things.”
Joe Namath (a.k.a. ‘Broadway Joe‘)
NFL Hall of Fame Quarterback,
led the New York Jets to win Super Bowl III
“Show me a company who thinks they have KPIs, which are measured monthly and quarterly, and I will show you measures that do not create change, alignment and growth and have never been KPIs”
David Parmenter
Internationally renown presenter and expert on Key Performance Indicators
From my research, very few organizations really monitor their true KPIs. The reason is very few organizations, business leaders, writers, corporate accountants, and consultants have explored what a KPI actually is. This brief paper hopefully will help you unearth what a KPI is and point where to look for them in your organization.
Let me explain what a KPI is through two KPI stories.
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About the Author
David Parmenter, author of Key Performance Indicators: Developing, Implementing, and Using Winning KPIs
and Pareto’s 80/20 Rule for Corporate Accountants
, is an international presenter who is known for his thought provoking and lively sessions, which have led to substantial change in many organizations. He is a leading expert in developing winning KPIs, replacing the annual planning process with quarterly rolling planning, accelerating month-end processes, and converting reporting to a decision based tool.
David’s work on KPIs has received international recognition with clients in Auckland, Wellington, Sydney, Melbourne, Brisbane, Adelaide, Canberra, Perth, Kuala Lumpur, Singapore, Tehran, Prague, Dublin, London, Birmingham, Manchester and Edinburgh. David is a fellow of the Institute of Chartered Accountants in England & Wales and has worked for Ernst & Young, BP Oil Ltd, Arthur Andersen, and Price Waterhouse Coopers.
David’s recent thinking is accessible from www.davidparmenter.com. He can be contacted at [email protected] or telephone +64 4 499 0007.
This articles is an extract from his “Implementing winning KPIs” whitepaper which can be downloaded from http://davidparmenter.com/how-to-guides)
StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.
Episode 31 – How to Better Engage Employees explores the actions executives and managers can take to better engage their employees; revealing how to improve employee satisfaction, productivity, retention, and ultimately the bottom line. During our discussion, Michael Lee Stallard, author of Fired Up or Burned Out: How to Reignite Your Team’s Passion, Creativity, and Productivity
and co-Founder and President of E Pluribus Partners, shares with us his insights and illustrative examples regarding:
the benefits leaders realize as a result of better engaging their employeesAdditional Information
In addition to the incredible insights Michael shares in Fired Up or Burned Out and this edition of the StrategyDriven Podcast are the resources accessible from his websites, www.FiredUpOrBurnedOut.com and www.EPluribusPartners.com. Michael’s Connection Culture Manifesto can be downloaded for free by clicking here. His book, Fired Up or Burned Out, can be purchased by clicking here.
A special gift for StrategyDriven readers…
We are pleased to announce that Michael has made the electronic version of his book, Fired Up or Burned Out: How to Reignite Your Team’s Passion, Creativity, and Productivity, available for download at no cost to our readers. Simply click on the link above to download your copy of this remarkable book on how to better engage employees; igniting their creativity, imagination, and spirits to the success of the organization.
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About the Author
Michael Lee Stallard, author of Fired Up or Burned Out, is co-Founder and President of E Pluribus Partners, a consulting firm specializing in helping leaders create ‘Connection Cultures’ to form strong bonds among the management, employees, and customers of an organization. Michael’s work has been featured in The Wall Street Journal, The New York Times, Leader to Leader, Human Resource Executive, and Fox Business Now. He has spoken at conferences organized by The Conference Board, GE, Google, NASA, Johnson & Johnson and Yale-New Haven Hospital. To read Michael’s full biography, click here.
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A number of recent reports have indicated that nearly 50% of the U.S. work force is unhappy with their current job. Amid the prospect of a recovering labor market, if this news doesn’t seriously concern you as a business owner or manager, it should. With such a high level of employee dissatisfaction, it’s a safe bet that once the job market recovers, a great number of people will “jump ship” when the opportunity is right.
The Retention Factor
If it isn’t already, retaining talent within your organization should be a top priority. But, the stakes are even higher now. Why? So much of a company’s success, its value to customers and its potential for future growth reside within its people. Keeping your most talented team members on your side is important for a number of reasons:
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About the Author
Solange Charas joined TalentScope in 2008 as the Global VP of Pre-Sales for the group. Prior to her joining TalentScope, she held several top level HR positions including CHRO of Praetorian Financial Group, SVP, Head of Human Resources for Benfield Group, and Global Head of Human Resources for Havas Advertising. In these roles she was responsible for all aspects of HR for these three organizations. Ms. Charas’ prior professional consulting experience includes many senior-level positions with companies such as Arthur Andersen, Ernst & Young LLP, and Towers Perrin. Ms. Charas served as a chairperson of the Remuneration Committee 2005 to 2009 for NASDAQ-traded Able Energy. Ms. Charas has a Masters in Business Administration in Accounting and Finance from Cornell University, a Bachelor of Arts in International Political Economy from the University of California, Berkeley and a Certificate in Negotiations from Harvard University. In the fall, she will be pursuing her Doctor of Management.
The accuracy and subsequently the trustworthiness of organizational performance measures is founded on the quality of their underlying data. While performance measures are uniquely sensitive to changes in data, even the smallest error in data accuracy undermines a metric’s credibility if not its output.
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