5 Tips for a Better Scorecard for the New Year
“Always bear in mind that your own resolution to succeed is more important than any other.” Abraham Lincoln
With the beginning of a new year, many leaders see this as an opportunity to get motivated and develop a better scorecard. If you are updating your team’s scorecard, here are some tips to consider:
- Define the Organization’s Goals – Focus on the mission statement. Write specific objectives that correspond with strategic themes for what the organization wants to accomplish.
- Develop Performance Measures – Identify how performance will be evaluated and what standards must be met. All results must be measured and expectations must be communicated.
- Assign Initiatives – Make team members aware of their responsibilities, and how they will be held accountable for their performance. Get team members on board with the strategic plan and the direction of the company by showing them the role they will be playing in its success.
- Evaluate the Scorecard and the Process – Review the scorecard. Evaluate whether the objectives are being met, and if the process to meet the objectives is working.
- Adjust the Scorecard as Needed – The scorecard and the process should be kept flexible so that changes can be incorporated as strengths and weaknesses are identified.
Contact us here for more information on how you can improve your business scorecard process.
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