By defining a set of KPIs that drive your company’s efficiency, you can use the data as a set of metrics that can be reviewed in a recurring meeting or dashboard.
Develop a set of Key Performance Indicators that can measure your company’s performance and efficiency. They could look like gross margin, sales closed, current backlog, and jobs that are overestimated gross margin.
- Develop monthly targets for these indicators and review with your senior staff on a monthly basis. You can illustrate this in a dashboard that your staff can easily access, this would drive a culture tracking efficiency.
- Build these performance indicators into your employee’s performance objectives to ensure alignment.
- Ensure billable employees have the required minimum billable hours on their timesheets.
- Set up metrics and alerts on projects that go over their budgets and be ready to develop recovery plans.
- Ensure training is executed for tracking systems and KPIs put into place to ensure good communication.
These are some strategies that can be executed and how to communicate them
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