KPIs are essential metrics that businesses use to measure progress towards their goals.
Traditionally, KPIs have been focused on financial performance, such as revenue, profit margin, and return on investment. However, as businesses have become more complex and interconnected, new definitions of KPIs have emerged to reflect a wider range of factors that contribute to success.
As a management consultant, I have seen firsthand how this approach can drive growth and foster long-term success.
By keeping people informed, involved, inspired, and interested, businesses can create a culture of collaboration and innovation that drives growth and fosters long-term success.
THE FOUR I IN KPI
🎯Keeping people informed means providing them with the information they need to make informed decisions and take effective action. By keeping everyone on the same page, businesses can avoid misunderstandings and ensure that everyone is aligned towards the same goals.
🎯Keeping people involved means engaging them in the decision-making process and giving them a sense of ownership over their work. By involving people in the business's operations and decisions, businesses can tap into a wealth of knowledge and expertise that can help them innovate and adapt to changing market conditions.
🎯Keeping people inspired means motivating them to do their best work and go above and beyond what is expected of them. By inspiring people to do their best work, businesses can create a culture of excellence that drives innovation and growth.
🎯Keeping people interested means creating a compelling vision of the future that inspires people to stay engaged and committed to the business's goals. By keeping people interested and engaged, businesses can build momentum and drive long-term success.
How do you measure progress?