This video discusses the most common errors companies make in trying to measure, motivate, and monitor individuals through the use of metrics.
- Odds are, you went to a school that used grades.…Perhaps, they created a composite score,…an average of all your grades.…Perhaps, they called it a grade point average…or your GPA.…This is a common academic metric.…Why do we use this metric?…Lots of reasons.…Schools want to know…who their best and worst students are.…Schools want to know…if teachers are being effective in the classroom.…Higher Education schools and some employers…want to know who are the best candidates…for future success.…
But how about the student?…As much as metrics are used to help evaluate people,…metrics are also used to provide guidance…and motivate good behaviors.…The idea behind the GPA…is that students that want future opportunities…should care enough to want to achieve a high GPA.…And to get a high GPA,…students must behave,…work hard, and improve.…But in most cases,…this just isn't true.…Let's consider students in college .…
What might they do to improve their GPA?…They might choose easier classes,…find out which professors are easier graders.…
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- Explain why metrics are necessary in business settings.
- Define KPIs.
- Identify the issue of attempting to reach 100% in a given metric.
- Summarize the limitations of metrics.
- Recall the three steps for making a metric understandable for employees.
- Describe the characteristics of an effective metric.
- Compare and contrast the costs and benefits of measuring too many versus too few metrics.
Skill Level Intermediate
Business Analysis Foundations: Fundamentals (2014)with Haydn Thomas2h 13m Intermediate
Balanced Scorecard and Key Performance Indicatorswith Jim Stice1h 17m Intermediate
1. How and Why We Measure
2. Errors and Challenges in Measuring
3. Developing a Good Metric
4. A System of Metrics
5. Performance Measurement Tune-Up
6. Above and Beyond
Next steps1m 57s
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