Scorecard to Drive Performance
A business scorecard process is a mechanism that a team uses to identify key metrics that are designed to answer the question of “Are we winning or losing?” This concise and accurate approach to metric alignment and collaborative problem solving is the cornerstone of an effective team.
The benefits of developing effective scorecards:
Track business results
What metrics help your staff, management and organization understand how the business is performing.
Establish a common business language
Aligning your scorecards across the organization prevents confusion, creates consistency and reduces time trying to determine if you are measuring the same thing.
Establish priorities that link to strategic objectives
By communicating your strategic objectives and creating a process to align all team scorecards with these objectives, you help your staff begin to understand how their role influences organizational performance.
Drive accountability at all levels
By linking corrective actions with metric performance in a visual format, leaders can quickly ascertain how the team is performing, what metrics need focus and what activities are underway to improve.
Equip leaders with an integrated tool to make timely and informed decisions
Things are changing quickly and leaders need real-time access to information, with a quick-at-a-glance view of information so they can focus on the areas of opportunity.
Increase employee engagement
Having employees feel connected to the business is a critical aspect to high performance. Having employees engaged throughout the process of creating your scorecard and assigned as metric owners, you help them move from bystander to active participant.
How can you improve your business scorecard process?
For over 25 years, CSI has been helping organizations develop a sustainable process for creating and updating key performance measures. Using our process, organizations learn not only the methodology to create the framework for business performance management, but how to evaluate and adapt to changing business conditions.