Once the initial battle is over in identifying what KPIs to measure and the tracking of data begins, many organizations tend to lose focus or become complacent over time. Here are some common situations that arise that cause loss of focus:
- People changing roles
- Data is not populated on a regular basis
- Red KPIs do not have a corresponding corrective action
- Business priorities change to meet customer/market demand
- Inconsistent meetings to review the data
Competitive Solutions Inc. recommends an annual audit of your scorecard and key performance indicators to ensure you are tracking the right data at the right levels. Change in your organization is inevitable. Your balanced scorecards are not a “set it and forget it”. It is a living, breathing part of your organization’s success or failure.
Interested in more information? We have a free guide that will help your organization implement balanced scorecards called The Guide to Scorecard Fundamentals. Download it here!
Stuck and need ideas on what to measure in your company or department? Click here for free scorecard examples. You’ll find lots of different industries and job functions.