Top 10 Steps to Better Design Strategy Success Metrics

Top 10 Steps to Better Design Strategy Success Metrics

 

 

Are You Measuring and Rewarding The Right Stuff? Workplace metrics impact workplace behaviors and performance.  Strategic buy-in and strategy execution hinges on the ability to measure success accurately and transparently. Designing the right strategy success metrics can mean the difference between a leadership team collectively steering toward its strategic targets and veering off course. Designed properly, metrics provide clear direction, motivation, and accountability. Designed poorly, they can lead to unwanted behaviors, misaligned actions, and unhealthy cultures.  Consider the infamous example of Wells Fargo. Wells Fargo: Strategy Success Metrics Gone Bad To best implement their customer growth strategy, executives identified metrics linked to cross-sales to customers to measure performance. Makes sense right? Satisfied customers should buy more products and services. Unfortunately, the obsession with the success metric (and the associated rewards for achieving it), caused the sales force to lose sight of the strategic intent to build long-term and mutually beneficial customer relationships.  Wells Fargo opened 3.5 million deposit and credit card accounts without their customers’ consent to meet aggressive targets. And, in turn, severely damaged the long-term relationships that the bank strategically sought in the first place. They were fined hundreds of millions of dollars, damaged customer relationships, and sullied their brand. In hindsight, it is easy to see that “cross-selling” by itself was not the best or only of way to measure and align with building long-term and mutually beneficial customer relationships. There is a better way to align metrics with strategies.

 

Read the 10 Research-Backed Steps to Better Design Strategy Success Metrics

 

 

VOICE OF THE CUSTOMER   Dr. Raphael B. Merriman M.D Medical Director, Liver Transplantation Sutter Health "The strategy and alignment work with our leadership team was absolutely transformational.    The decisions we made combined with the transparency, communication, and accountability were exactly what we needed.    Thank you!"   See More Testimonials

 

 

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How To Better Set Goals across Your Company

High Performing Executive Teams Know How to Set Clear Goals Across the Organization We believe that the role of leadership is to create the circumstances for their teams to perform at their peak.  And peak performance starts with strategic clarity. Leaders need to know how to effectively set and execute against goals across their organizations. Our organizational alignment research found that strategic clarity accounts for 31% of the difference between high and low performing leaders.  To create strategic clarity, leaders must start by creating shared goals that are clear, compelling, relevant, and aligned with people AND business priorities. Then, they must have a transparent process to collectively recalibrate as things inevitably change. When done right, the process of co-defining, -managing, -tracking, and adjusting approaches to achieve important goals creates the synergy businesses need to win.

Read the 2 Research-backed Steps to Take Now

VOICE OF THE CUSTOMER Bindu Garapaty VP of Inclusion, Diversity, Equity & Talent Development Impossible Foods "LSA has a tremendous ability to distill complex, multilayered challenges into meaningful, impactful, and clear strategies and action plans. The time we invested as a leadership team to get aligned was well spent in gaining laser focus and identifying ways to prioritize what was meaningful individually and as a team. The facilitation and leadership style was direct, firm, and compassionate. LSA provided the high-level thinking and support for our team to co-create in a rapidly scaling business." See More Testimonials

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Training Measurement Best Practices

Are you making the right business impact?

Unfortunately, if you asked your executives and stakeholders, odds are that the answer is - NO!

Not surprisingly, when we ask training and HR about the impact of their training initiatives, most tell us that they are making the right impact - even though the majority admit that they did not measure the training program it and are unclear about what happens "after people leave the session," or if there was an effective transfer of training.

When we look deeper however, the data is less encouraging:

• Leaders believe that 90% of training initiatives fail to meet expectations
• 75% of CEO's do not believe that training is impacting their business
• Without systemic training reinforcement, 80% of skills and knowledge are not transferred back to the job

Based upon more than 600 training assessment and measurement projects, we have substantial evidence that consistent executive coaching combined with clear measurement achieves significantly higher levels of cultural and environmental performance than stand alone training events.

If you have a training initiative that is critical to your success or the success of your business, make sure that you can answer the following questions. Eventually someone will want to know.

1. Impact: Is it making an impact?
2. Adoption: Are people using the new knowledge, skills and processes?
3. Reinforcement: Are managers involved, supportive, and reinforcing?
4. Coaching: Are we providing individualized feedback that is relevant, simple, and actionable?

Having answers to the above 4 questions is proven to help drive the right amount of accountability to make an impact.

While you may think that it is too difficult or too costly to measure and reinforce training, we believe that you will be pleasantly surprised with the possibilities.

Read more about the top 5 steps to measure your return on training...



About LSA Global
Founded in 1995, LSA Global is a leading performance consulting and training firm that helps high growth technology, services, and life-science companies create a competitive advantage by powerfully aligning their culture and talent with their strategy. Learn more about getting aligned

Is Your Training a Perfect 10? Should You Care?

What would happen if the Olympics used training's most prevalent approach to scoring?

In addition to creating some interesting arguments, Nadia's perfect 10 would probably turn into something similar to:

• "I think she did pretty well. Very entertaining."
• "I'd recommend watching her again."
• "While I liked it, I wish her routine was my more applicable to my specific job."

While it sounds crazy in this context, thousands of organizations continue to allow training to be the least measured and most ineffective process in business. Based on over 600 measurement projects for Fortune 1000 companies around the world, we know that Training Measurement can now be done both efficiently and effectively. Done right, training measurement will:

1. Quantify business impact
2. Drive focus and accountability
3. Provide specific feedback for coaching
4. Support employee retention initiatives

Learn more about training measurement done right...

About LSA Global

Founded in 1995, LSA Global is a leading performance consulting and training firm that helps high growth technology, services, and life-science companies create a competitive advantage by powerfully aligning their culture and talent with their strategy. Learn more about getting aligned