You're navigating shifting business priorities. How do you adjust KPIs to stay on track?

1 Assess Impact

When business priorities shift, the first step is to assess the impact on your current KPIs. Look at your strategic goals and determine which KPIs are still relevant and which need to be revised or replaced. This process is akin to a navigator checking which routes are still valid when the destination changes. You need to identify which metrics will still help you track progress towards your new objectives and which may now lead you astray.

2 Revise Goals

Once you've assessed the impact, it's time to revise your goals to align with the new priorities. This involves setting new targets for your KPIs that are in sync with the updated business objectives. It's important to ensure these targets are realistic and achievable, given the new direction. Think of it as adjusting the sails of your ship to catch the wind more efficiently after a change in course—your goals need to be adaptable yet still guide you forward.

4 Monitor Progress

With new KPIs in place, monitoring progress becomes vital. Regularly check if the performance is aligning with the revised goals. This ongoing evaluation will help you understand whether the adjustments are effective or if further changes are needed. Consider this step as a navigator constantly checking their instruments to ensure the ship is on the right path, making course corrections as necessary.

6 Communicate Changes

Finally, communicate any changes in KPIs clearly across the organization. Everyone involved should be aware of the new metrics and understand how their role contributes to achieving them. Clear communication is similar to making sure all crew members know the ship's new heading; it ensures coordinated effort and prevents confusion, keeping everyone on course towards the shared goals.