Beyond Numbers: 7 Unconventional Metrics Every General Manager Needs to Track For Unseen Success
Ever heard of the phrase 'what gets measured gets managed?' If you are a general manager, it probably rings a bell. But ever wondered if what you're measuring is giving you the full picture? Let's take a deep dive!
Are We Missing Something?
Don't get me wrong. The traditional finance and sales metrics are significant. But let's face it, they're as old as time itself. And in this ever-evolving world, isn't it time we evolve our metrics too? So what if I told you there are unconventional yet crucial metrics that are often overlooked? Hold on to your hats; you are in for a wild ride.
Seven Unseen Metrics to Track
1. Failure Rates
Yes, you heard that right. Every general manager needs to track failures. It's the only real-time pathway to innovation. As Thomas Edison fondly said, 'I have not failed. I've just found 10,000 ways that won't work.' So, embrace failure, count them, and use them to your advantage!
2. Employee Happiness
No, this isn't some fairy tale. Employee happiness directly impacts productivity—period. According to the University of Warwick, a happy employee is 12% more productive. Time to break out those smiley-face emojis, right?
3. Customer Sentiment
Sales numbers are fine and dandy. But how do your customers really feel about your brand? In an age of social media, customer sentiment is more valuable than gold. It's time to get behind those numbers and seek out honest opinions.
4. Environmental Impact
We're all part of this world, folks. A successful business today is as much about profit as it is about sustainability. The carbon footprint you leave behind is not just an 'image' problem anymore; it directly affects your bottom line.
5. Digital Presence
If you aren't on the internet, you don't exist. It's harsh but true. A strong digital presence is a key influencer of consumer trust and, consequently, sales. SEO, ad impressions, social media engagement – they're worth their weight in gold!
6. Adaptability Quotient
The pandemic taught us one thing – adapt or perish. Your adaptability quotient, or how quickly you change your game plan based on external factors, is a significant 'success' metric in this VUCA world.
7. Knowledge Sharing
Successful general managers know one thing - a team that shares knowledge and learns together wins together. If your team is hoarding knowledge, you're losing out on innovative ideas. So track it, encourage it, celebrate it!
In Conclusion: Measure to Manage, Manage to Succeed
As the captain of your ship, you need every bit of information to steer your enterprise towards success. Move over traditional metrics, and make room for the unseen ones. Learn to measure these, manage them, and let your success speak for itself!
