Gather performance data
Decide what standards you will use to measure performance.
Maura next sets targets for each of the metrics she has defined. She and her boss think carefully about the targets.
For example, Maura knows that she can't eliminate turnover entirely in her group. But she wants to keep it at a minimum. She benchmarks sales staff turnover in other, similar companies, as well as in other customer-facing groups within her organization. After reviewing the information, she decides that a target of 5% annual turnover is reasonable and will help her achieve her objectives. She uses a similar process to set targets for her remaining metrics.
Maura then begins gathering performance data on all the metrics she has defined, and compares the data to her targets.
For instance, she starts tracking the number of sales reps who leave the company each month and calculating how that rate compares with the 5% annual turnover rate she had set as her target. She figures her target is a monthly average rate of 0.4% (0.4% x 12 = 5% annual).
In gathering and reviewing performance data, Maura sees some disturbing developments. In particular, turnover in her group is trending upward. Over the six months that Maura has been measuring performance, monthly turnover rates have slowly climbed from 0.4% to 0.5%. Turnover for the current month has already reached 0.7%—and there are still two weeks remaining in the month.
In addition, increasing turnover has clearly begun to hurt customer satisfaction and revenues—just as Maura had feared. Performance on the metrics she defined for those objectives has fallen far short of the targets she set.
Maura knows she must investigate and address the causes behind these performance shortfalls.