This article explores three common traps that managers fall into when measuring their strategy’s performance and explains how to avoid them. The first trap is when the strategic framework and measurement system don’t align. To fix it, you must organize both around key stakeholders. The second trap is when companies measure what they do rather than what they achieve. To fix this, focus on stakeholder outcomes. The third trap is a lack of focus. To fix it, cascade rather than amalgamate your metrics.
Measuring the performance of a business goes hand in glove with its business strategy. Or it should. But surprisingly, as I’ve witnessed firsthand over an extended period, organizations in all sectors struggle to match their strategy design with their performance measurement.
The trouble was that it didn’t match main roads’ existing performance measurement framework, which was organized around programs such as road safety, road efficiency, and road maintenance. For example, in the case of the stakeholder staff, Marjorie’s organization wanted to ratchet up innovation around the services they provided for people with autism and their families. This required attracting first-rate clinicians by boosting the organization’s position on employment conditions. One indicator of success was an increase in the number of job applications from suitably qualified psychologists.
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