Numbers and data help validate your business’s success, at least when it comes to sales and efficiencies. Streamlining data across the company, instead of separating it into individual departments, can help you develop meaningful metrics for tracking your growth.
While important, employee performance reviews are not the most realistic indicators of business growth. Sure, some employees may feel like they’re improving, driving better sales and reducing losses, but how accurate is that perspective? If you don’t provide your team with the right metrics, a company can’t realize its effectiveness—or ineffectiveness.
> Centralize data across all departments. Share meaningful data to get an overall look at what’s working and what needs improvement in the business.
> Build a business intelligence team. This cross-departmental group will devise solutions to fix the problem or challenge identified by metrics.
> Find organic solutions. It’s not often you’ll find a one-size-fits-all, out-of-the-box solution. Just as your business is unique, so will your metrics and analysis process be unique.
> Define success. Ensure every employee understands what success looks like—and specifically how it can be measured.