Performance Scorecard.

MOST TEAMS SPEND A LOT OF TIME AND ENERGY SETTING GOALS AND PERFORMANCE STANDARDS YET FAIL TO TAKE THE NEXT STEP AND DECIDE HOW THESE GOALS WILL BE MEASURED AND HOW THEY WILL BE REVIEWED OVER TIME. IDEALLY, TEAMS SHOULD AIM TO ACHIEVE A FLOW BETWEEN SETTING TEAM GOALS, MEASURING PERFORMANCE AND ACTING ON THE DATA PROVIDED IN THE MEASUREMENTS.

The performance scorecard should be thought of not only as a report of team performance but also as a driver for team behaviours and as a catalyst for goal reviews. As such you also need to ensure you make the time to review the data – there is no point measuring performance if you are not going to do something with the data. In addition, the data collated in the scoreboard should feed into the “elevator speech” for the team, as it provides the current key statistics for the team.

Metric Development

Once team goals are confirmed we can then work on developing metrics that will allow us to review our progress. In doing so we must consider how a particular metric is going to help us develop as a team – it must be valuable and allow us to consider responsive behaviours. Therefore when we are developing team metrics we need to consider the following questions:

1. What value does this metric provide? What does it say about our business?
2. What is the target we are setting for this metric? What constitutes a good result?
3. What would it mean for the team if we had a good result on this metric?
4. What would it mean for the team if we had a bad result on this metric?

In order to provide a holistic snapshot of the team’s performance we need to make sure we cover metrics from different aspects of the business. The balanced scorecard framework has been developed to ensure we cover all areas of team performance, some of which may be overlooked when following a traditional financial model only.

The Balanced Scorecard Framework

Contact Future Platform to discuss how we can help with the development of your scoreboard.

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