Monitoring performance remotely

Submitted by Jonathan Midwood
in
Manager Tools Trinity
Hi Some advice really First to give some clarity to the staff structure. There is the owners (MD's) x 2 The GM (me) A Promotion manager A marketing manager A Accounts manager A HR Manager An EPOS/ Admin manager A WHS manager A series of store managers (12) and their directs. The advice is really where to start with performance monitoring on a set of store managers. There are 12 owned stores spaced round the UK so face to face contact would be hard. But what I want to do is get some performance targets and measurable goals in place. I have scheduled in meetings with them over the next 3 weeks, and I want to have some 'set' measurable goals so that when I go back after my initial meeting I can measure them again on these. What I am stuck on is where to start first. Any advice on what would be a good starting point, and any subsequent steps would be helpful, as I have some broad ideas - based round £ targets, stock TO,, budgets Sstore weekly TO etc, (quite a few in fact), but I am a little weighed down with where to start first. Thanks JM :D
Submitted by Inactive Membe… on Sunday March 30th, 2008 5:50 am

Great question JM -
If I understand, you're looking here for companywide performance measures (as opposed to developing individul performance programs for each of your direct).

If that's right, then start with the key indices of success for your business (are revenue measures, like same store sales, more improtant than profit measures? even if your company is not publicly traded, are their meausures that are critical when financial markets analyze companies in your business?)

And oook at the work that's out there on the "Balanced Scorecard" (google it), which calls for a set of measures that include not only financial, but employee and customer measures too.

-Hugh

Submitted by Jonathan Midwood on Sunday March 30th, 2008 12:04 pm

Thanks Hugh

FYI - I am also looking at metrics that based round personnel, as I see retail as revolving round three key things (a Trinity if you wish). Staff, Stock and Customers.

The metrics for the stock element for me is based round Margin's and £'s while the other two are more subjective. I am relatively comfortable with the £ element of monitoring (Sales, stock level and TO) but I suppose the element of personnel metrics and customer metrics are a little bit more vague to me. The Balanced score card (I have had a look) is a great start, the element of staff metrics however in remote sites is perhaps a little bit more difficult to grasp. What would be the advice here from a MT perspective and what one or two 'practices' would be a good start?

JM

. :D