Keep in mind KPIs to create a better future

Tim Haggerty

In preparing to help some of my clients get ready for the new year, I challenged them to really stretch beyond the recently completed 2023.

Given my background in leadership, I hoped at least a few of the clients would come up with key performance indicators to grow their organizations through and with their employees.

An old adage states leading is like planting a sapling. It will provide bountiful shade when it matures, but you’ll never sit in that shade. It’s a metaphor about taking action today to create a better future. I believe in and have experienced this lesson.

It’s important for leaders to learn from the past and take action today to keep up with the fast pace of the world. In the context of developing talent, planting refers to a leader approaching another leader for mentoring or coaching or engaging them in development discussions. Both parties must commit to the time and effort to make it work.

Instead of being handed a list of mentoring or coaching objectives, I received what I typically get from business leaders who believe they’re on the right track. Increase sales by X percent and  reduce costs by Y percent, along with some other, business-specific metrics.

Don’t get me wrong. There are a ton of good organizations that have been in business for years. There are a ton of good organizations that will remain in business long after I’m gone. Yet, where are those key metrics to organically growing their organizations? Things like increase investment in quality search engine optimization, expand reach through social media or networking and use existing customers to reach new customers.

Who helps you capitalize on e-commerce or find and  serve untapped niches? How do you stay up to date with trends and a customer base shifting from baby boomers to Gen-Xers? Have you conducted market research to really understand who the customer is becoming? What about investments in and with your sales team?

All of these are valid for a company to continue to grow and move into the future. How you do all of this is what I was really looking for and what I’ve come to appreciate. Leaders need to focus less on performance and more on people. It’s essential to realize people are the No. 1 asset of any company.

Here are some other key performance indicators — KPIs — to keep in mind: Keep people informed. Keep people involved. Keep people interested. Keep people inspired.

It’s simple on the surface, but difficult in practice. And it requires a heavy dose of courage on the part of leaders. Courage is the willingness and choice to confront danger, intimidation, pain and uncertainty. It’s the willingness and choice to recognize change is required. You must be willing and make a choice.

No one can do this for you. It’s solely within your power. But it’s also solely within the power of your employees to help you reach any KPI you deem critical.