What legacy KPIs are we measuring that slow us down? That's the next question in the blog series, 5 Questions that Might Make Us #beEvenBetter.
So, are the key performance indicators (KPIs) we are using still relevant today? Do they conflict with the new behaviors that we need to retool or transform our services? Do they focus team members on the right things or distract from where we need to go?
My experience is that most CPA firm KPIs were developed during long, sustained periods of success accompanied by incremental change. How can these historical KPIs move us forward? Remember, what you measure is what you’ll get.
For example, does measuring realization per hour or turnaround time for client deliverables provide the most value for us today? Which of the two do we measure the most with data and dashboards? It’s time we do the hard work to develop new measurements and dashboards that help drive rapid retooling and change for our firms.
What other hard questions can use to provide a better future for our firms and team members? The questions in this series will help us address the challenges facing accounting firms today. And each month, we'll continue to discuss each question as we plot the course forward.