You fully understand and believe in the importance of measuring your change initiative…from the beginning, through various milestones, and at the conclusion. How else will you know you have made progress and reached the goal? The trick is to choose the right areas to measure…the key numbers that will let you know you have succeeded.
Change management consulting experts advise that these critical numbers have the following key features:
- They are chosen collaboratively with key influencers. If the success metrics are solely dictated from the top, few who actually implement (or have to live with) the change will feel ownership of the results. Better to work with all involved so that each key segment of stakeholders selects the approach and timing that best measures success along the way.
- They connect directly to the financials that matter most. When push comes to shove, executives are held accountable for both short- and long-term financial performance. To be in the game, your change initiative should directly (or indirectly at worst) impact revenue or profits.
- They are adjusted along the way to keep in alignment. Business priorities can change quickly. To be successful, make sure that your original success metrics stand the test of time as the project evolves. While improving margins may be the key success criteria at the outset of the venture, market share, revenue growth or the retention of top talent may move to the forefront. As the strategic landscape shifts, make sure that you and your team shift with it.