This time of year tends to ‘strike’ most of us like the blasts of cold Canadian air that will be coming our way soon. How did we get to the fourth quarter of the year already? Wasn’t it just the Fourth of July?
This is the perfect time of year to evaluate the measures we’ve been using throughout the year, both to monitor our year to date performance, and to begin to evaluate whether or not the measures have been helpful in directing our strategic decision making.
The key question to ask yourself relative to what you’ve been tracking this year is whether or not the results have been part of any ‘meaty’ discussions you’ve had as a management team. Have your scorecard results been reviewed with exceptions discussed and options evaluated? Have metrics not met been the catalyst for robust discussions on allocation of resources?
If your metrics are helping your management team to talk about the “why” of business results instead of just reporting out, then they’re probably worthwhile measures to continue evaluating into the next fiscal year.