Utilizing feedback data

- In the 1980s, General Electric became famous … and it used a performance data. … Then CEO, Jack Welch invented the 20-70-10 rule … that eliminated the bottom 10% of performers … in the company every year. … While the 20-70-10 rule is not widely in practice today, … the concept of using performance data … is still very much alive and well. … In fact, data can give you tremendous insight … into your business, which is why you should utilize data … to give better feedback and foster better performance. … You can do this in a few different ways. … First, you can collect data on measurables, … such as sales numbers, number of days without an accident, … referral rates, number of new clientele, … test scores, retention rates, customer satisfaction score, … data that is relevant to your organization. … These are the easiest to collect … with proper documentation of work, … as many of them are hard, tangible numbers. … Look at your organization … and see what measurable data you can collect for your team. …