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An important component of performance measurement is represented by the data collection capability. However, when applied in the organizational context, this process is neither easy, nor lacking obstacles, as practitioners often discover.
When a company is interested in attaining superior performance in customer service, sometimes it’s useful to peak into other companies’ “kitchen,” so that they can get an idea on where they stand in comparison to them.
A common disappointment among managers in regards to measuring performance is that in practice, in many cases, the key performance indicators (KPIs) monitored do not seem relevant as they are not connected to the strategy.
Reporting is an important stage in the performance management process, although managers can sometimes fall into the trap of considering it as the end of the performance cycle. However, just reporting performance data will not ensure the improvement of results. Improvement is only possible when decisions are made based on the insights provided by data.
According to a poll conducted by The KPI Institute on LinkedIn, Selecting Key Performance Indicators (KPIs) has been highlighted as the most difficult aspect in deploying KPIs, with more than 50% of respondents choosing this option when asked: “What is the most challenging aspect in working with KPIs?”.
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