Key Performance Indicators
Every day in the course of running your business, you and your staff make countless decisions. Some of those decisions are good decisions with favourable results that increase your bottom line. Other decisions have consequences that range from irritating to costly today as well as the bottom line for years to come.
Focusing decision makers becomes key when a business is viewed from this perspective. So how does a business owner focus their employees?
Research shows that if you want to affect something positively – measure it!
Every business has key performance indicators. Some are common to every business and include revenues, number of sales, volume of sales, number of customers, and expenses to name a few. Other indicators are unique to your business and to your industry.
Having a dashboard of indicators allows all your decision makers to focus on progress towards your goals. Now tie that progress to individual compensation and you have a robust pay for performance system that delivers results.
Let us help you identify your ideal Key Performance Indicators and then tie them to your employee compensation. You’ll see a huge impact on profitability and the value of your business with the added bonus of happier more productive people.
Call us today to find out how we can do this in a very affordable way.