Setting individual KPIs for each of your employees is probably one of the most important things you can do in your business. But it doesn’t end there – there’s so much more to KPIs with just setting them!
KPIs are absolutely essential to driving business results, improving employee satisfaction and reducing employee turnover. All of these are pretty important, right? Obviously should be top priorities. After all, you want your team to be motivated and to feel empowered to make a real difference in their career and in their workplace, for the wider world.
Without clear, concise and constructive KPIs, employees can be left feeling a lack of purpose and direction not just within company, but also in their career journey. You want to steer away from this at all costs!
As a manager or business owner, it is your responsibility to ensure you have an effective KPI system for employees. But how exactly do you do it?
My top 4 tips for setting individual KPIs for your team:
- Set stretch KPIs. If your employee wants to move up in the business, their KPIs should be stretch i.e. difficult to achieve, but it should also be made clear that just passing isn’t enough – exceeding is where you need them to be.
- Think about what needs to be done. What does the company need to achieve in order to get it here you want it to go, and how will the input of individuals affect that? For example, if you want an extra $100,000 in revenue from your team, you then need to work back from that number. How many calls do they do now to get that number? How many extra would they make? Emails to send out? Whatever goal is the KPI or action the staff member has to take must to correspond accordingly.
- Performance measurement and follow up is essential. How do you measure/track performance and how do you feed it back to people? Performance metrics should be visible and clear where everyone can see them and know where they sit against others of the same position. It can either be a great motivator or a real kick in the face as to where they think their performance is at.
- Seek feedback from your employee on what their goals are and what they want to achieve. If that’s a promotion or a sideways step – their KPIs need to align with both what the organisation needs and where they want to go, what they want to be.
Would you like to learn how to create a culture of high-performance and authenticity, and how you can best support, engage and empower your people to succeed? Back for its fifth year, the Authentic Leadership Summit 2020 teaches you how to lead with greater purpose in the contemporary business climate. Early bird rates end in 7 days, so now is the time to get your tickets. Register here.
Stopping bad management ruining businesses and stagnating people’s careers is something that I’m really passionate about. When it comes to bad management, it isn’t just about intimidation or belittling, deliberately setting unachievable targets or projecting the stereotypical “horrible bosses” behaviour. It can be as simple as leaving staff wondering what their goals are, resulting in them not being able to achieve them, or a dereliction of duty because it’s too hard or too confronting.
In 2020, I’m challenging CEOs, CFOs, CMOs and everything in between, no matter what the size of the business or organisation, to stop bad management and to have the tough conversations that turn managers into leaders.
I’ve worked in small, medium and large organisations in the education sector and have been fortunate enough to meet hundreds of managers from some of the largest organisations in the country to start-up business owners trying to find their way. Some of the key things I have learnt along the way include:
- Communication is key – people have to know what to expect and how they are to deliver on those expectations
- It’s recognition – staff should know when they have done a good job and have shown the right commitment
- It’s providing an environment of psychological safety, of allowing people to ask the hard questions and not being afraid of addressing concerns
- It’s leading by example and modelling the behaviour you want others to emulate and being brave enough to call out behaviour that is not OK
- It’s making values and standards clear and visible and recognising behaviour the exemplifies those values and standards because allowing poor behaviour to continue says clearly to other staff that that behaviour is OK, but it also says to them you don’t care enough about them or the company to stop it
So, my question to you is – how will you change your management style in 2020?
If you’re looking for ways to enhance your management style, join us for the upcoming Authentic Leadership Summit being held in Sydney from the 17-20 March 2020. Back for its 5th year, keynote speakers include, Ita Buttrose, Larry Marshall, Tim Kelsey and Mike Baird to name a few. Early bird pricing is available in until the 14th February 2020 – book here.
Every year I host 35 leadership summits, present over 500 high profile speakers and educate more than 2500 attendees looking for that golden nugget to become a better leader within their business or organisation.
I truly believe that what got you here, won’t get you there. So, don’t be complacent and think that where you’re at right now is good enough, because sadly that’s when you get left behind. Chase the desire to be best in practice and be open to learning from others to stay ahead of the game.
Leadership isn’t something that you’re born with, it’s a learnt skill that needs constant nurturing and development throughout your life and career. Combine this with the fast paced, technologically advanced world we live in, where there seems a new gadget, app or way of doing things everyday – it can become very overwhelming!
It’s time to get back to the KISS (Keep It Simple Stupid) way of doing things and put a plan together for your leadership journey in 2020. The key thing is to make sure it’s realistic and something you will stick to for the longer term and not just a temporary thing.
No matter what stage of the leadership journey you’re at, keep it simple with my top five ways to be a better leader in 2020 include:
- Create an Executive Toolkit: Start with your values and write them down, this will give you a way to measure yourself against the qualities your ‘ideal leader’. Knowing who you are and what you stand for will assist your team in measuring themselves in a positive way, leading them to feel valued, and as a by-product, even more motivated.
- Allocate time: Block out time in your calendar and schedule the events and training sessions you want to attend throughout the year. If you schedule it in advance, you’re more likely to attend and follow through.
- Get educated: Book in formal training, internally or externally and make time to attend it. Conferences for straight from the source learning, deconstructed university courses or one day industry focused trainings. Whatever it is, make time for it. Compile a selection of books to read throughout the year, if reading is not your thing – try an audiobook on the way to work. I’d start with my favourite business author Brené Brown and aim for one per month.
- Engage a mentor or sponsor: You’d be surprised how many experienced CEOs, entrepreneurs and educators are looking to mentor or sponsor upcoming talent. Simply make a list of the people who inspire you and reach out.
- Network: Attend networking events! You should find that a lot of courses and summits include a networking session at the end of the first day. Plan to stay for the duration, and although it’s like speed dating, you never know who you might meet or what opportunity might arise.
We have now released our 2020 calendar of events. Key highlights of the line-up include:
It’s going to be our biggest year yet! Don’t miss a thing – subscribe to our mailing list to receive all of the latest up to date information on the latest relevant training courses, scheduling information, news and offers. Simply scroll to the bottom of our home page and enter your details to subscribe. See you around!