Add Employee Morale to your Weekly Balanced Scorecard
Got a balanced scorecard for measuring company performance?
Does your company use a weekly balanced scorecard for measuring company performance?
Employee Morale used to be measured through a yearly employee survey.
Meanwhile, other Key Performance Indicators (KPI’s) like EBITDA, revenue and customer ratings are considered so important they are analyzed on a daily basis.
But do these numbers combined really give your company the full picture of the direction you’re heading right now?
Who is behind all of these daily financial KPI’s, making sure magic actually HAPPENS at work?
Hang on, how is our employee morale doing lately?
Where is your ongoing People KPI?
What has happened since your employee engagement survey last October?
Between the popular branch manager that left in January, the growing unhappy bunch in the facilities department, and last month that was seriously stressful at the manufacturing plant?
How are your people feeling at work?
Maybe it’s time to put your current employee morale on your weekly balanced scorecard?
The yearly half-hearted check-up of Employee Morale
It’s a well-known fact that employee morale (or employee engagement, employee satisfaction… whatever term you use to define your workplace MOJO) is a key factor that contributes to your company’s success.
Traditionally it has been much easier to measure financial results on a continuous basis.
Employee morale got a yearly half-hearted survey check-up.
“Companies were looking at cash flows on a daily basis,
and employee morale on a yearly basis”
Then the business world started spinning faster.
With employee morale numbers at an all-time low, it might be time to add employee morale to your weekly or monthly balanced scorecard.
An easy way to get the pulse on employee morale
Through a device that hangs at the exit door, leaders at all levels in your organization can now get an ongoing KPI.
This data gives team managers insights into if their workplaces are improving or not.
Employees answer “How was your day” by pressing the green or the red button once every day.
This gives operational leaders a baseline of the Employee Mood KPI in their team.
I.e. on a typical day, 74% press the green button.
The full results are available on the online dashboard.
This you can drill down and see differences between the day and night shift, or compare to last quarter.
Generating meaningful conversations
If the Mood KPI went down 13% in the factory last month due to a huge sales order and the managers are trying to do something about the stressful situation – you will have ‘hard facts ‘ to know if their effort is having an effect.
A balanced scorecard for measuring company performance shows if your employee morale is increasing:
Are your coworkers pressing more green this week or month?
Will this slow down their performance, thus impacting your quest to reach strategic goals?
Related: Read how Unilever constantly compare their Employee Mood KPI with factory production levels.
Take action while the problem is still small
What can you do with a key performance indicators report?
With a KPI showing your Employee Mood you can see how your coworkers react to daily events or leadership announcements-
(I’m a huge fan of the story of the company where 100% pressed RED when a popular manager declared he was leaving… he actually changed his mind a few days later and is still there!)
By comparing your various offices or factories you can take action while the problem is still small and improve continuously.
Bring Employee Morale to the board room
Why do the measures used in a balanced scorecard differ from company to company?
Well, all companies have different strategies to get where they want to be.
What do all businesses have in common? You need your employees to have your back to get there.
A People KPI means that leaders and HR can easier align with the company’s strategic plan.
You get ‘hard’ and relevant facts for the board room.
”We use the Celpax in our leadership meetings to discuss what we can do to make people stay positive on any given day, and long term”, says Unilever Kleve’s Factory Manager, Eugène Kusse.
“ The Celpax device is a good indication that the things we do lead to a more satisfied workforce”.
Like the idea of having a weekly balanced scorecard for measuring company performance, where your employees are in focus?
Rebecca is a reluctant data enthusiast, co-founder at Celpax, and convinced that using the balanced scorecard as a strategic management system is a great idea. Come say hi and tell us about your balanced scorecard for measuring company performance.