No matter whether you are in the business of measuring client, stakeholder or employee satisfaction, the key thing is to be sure that you’re measuring the right things.
Measuring the right things
This might sound obvious, but it is all too often the case that the right things aren’t measured or that measurement is inconsistent, resulting in the wrong things being allowed to dominate and influence business decisions.
It’s necessary to continually challenge the way you do things, as well as why you are doing something, to make sure you are measuring the things that have a real impact on your business. Only then will you get to the insight that will allow you to act on and to prioritise what will make a difference. This approach will also help you to avoid putting precious resource and budget into things that might seem important but in actual fact have little or no influence on customer, employee or stakeholder satisfaction levels.
Over the course of our next few blogs, we’ll guide you through our approach to measurement. We start here with a look at the role of ‘relative importance’.
On a scale of one to ten, how well are you performing?
Firstly, it’s no good just measuring how well you are performing. You need to identify and analyse the key drivers of satisfaction or adversely dissatisfaction. Critically, you need to be able to plot the relative importance of those drivers or attributes so that you know which really are key.
Assigning a relative importance value, however, isn’t enough. This on its own can be misleading and can result in a proportional response – i.e. most money being spent on the lowest scoring attribute.
When deciding how to prioritise actions and expenditure it is vital that you understand your performance in each area of your business and that you focus greatest effort where importance is highest and satisfaction is lowest.
This will provide you with a priority matrix – something we will come onto in our next blog – that will help to guide your decision-making and actions.