How do you capture the full value of change with metrics?

1 Define your change objectives and outcomes

Before you can track and evaluate the results of your change efforts, you need to define what you want to achieve and how you will measure it. Your change objectives and outcomes should be aligned with your strategic goals, relevant to your stakeholders, and specific, measurable, achievable, realistic, and time-bound (SMART). For example, if your change objective is to increase customer retention, your outcome could be to reduce customer churn rate by 10% in six months.

2 Choose your change indicators and data sources

Once you have your change objectives and outcomes, you need to identify the indicators and data sources that will help you monitor and assess your progress and performance. Change indicators are the variables that reflect the changes you want to see in your organization, such as revenue, productivity, quality, satisfaction, loyalty, or culture. Data sources are the methods and tools that provide the information you need to measure your indicators, such as surveys, interviews, feedback, analytics, reports, or audits.

3 Establish your change baseline and targets

To measure the value of your change initiatives, you need to compare the current state of your organization with the desired state after the change. This means you need to establish a baseline and a target for each of your change indicators. A baseline is the starting point or the pre-change value of your indicator, such as the customer churn rate before the change. A target is the end point or the post-change value of your indicator, such as the customer churn rate after the change.

4 Track and report your change progress and performance

To capture the full value of change, you need to track and report your change progress and performance regularly and consistently. This means you need to collect, analyze, and communicate your change data using appropriate formats and channels. For example, you can use dashboards, scorecards, charts, graphs, or tables to visualize your change data and highlight the key findings and trends. You can also use reports, presentations, newsletters, or meetings to share your change data and insights with your stakeholders and decision-makers.

5 Evaluate and improve your change outcomes and processes

To capture the full value of change, you also need to evaluate and improve your change outcomes and processes continuously and systematically. This means you need to review your change data and feedback, identify the gaps and challenges, and implement the actions and solutions that will enhance your change results and experience. For example, you can use surveys, interviews, focus groups, or workshops to gather feedback from your customers, employees, partners, or suppliers on how they perceive and respond to the change. You can also use audits, reviews, or assessments to examine your change processes and practices and identify the best practices and lessons learned.

6 Celebrate and sustain your change achievements and culture

To capture the full value of change, you also need to celebrate and sustain your change achievements and culture. This means you need to recognize and reward your change agents and champions, share and celebrate your change successes and stories, and reinforce and embed your change behaviors and values. For example, you can use awards, bonuses, certificates, or recognition events to appreciate and motivate your change leaders and contributors. You can also use stories, testimonials, case studies, or videos to showcase and inspire your change impact and benefits. You can also use policies, procedures, norms, or rituals to support and sustain your change culture and mindset.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?