Employee Scorecard 2017

I want your input

Take this survey to tell the world what you think should be in an employee scorecard.

It is time to pull our support to employees out of our 1962 models of Job Descriptions, Annual Performance Review, etc. The current realities and thinking, including OKRs (Objectives & Key Results, like at Google), the abundance of (big) data, the faster pace of business in 2017 than 1962, and significantly higher levels of employee education and cognitive capabilities, we can do better.

I have a dream where each employee can clearly see what they need to accomplish, their role, the timing, the outcomes, who is going to work with them, etc. And they can get feedback - performance views, an overall, score...and a bunch of interesting statistics.

Think of Fit-Bit for business!

Let's ignore the graphics for the moment,

What should be on that employee scorecard?

Use this link to get to a Survey Monkey survey where you can weigh-in on what you think should be on that employee scorecard.

The Foundation

Strategy Points

At Pm2 we use an approach to determine Strategy Points... Activities are assigned "Strategy Points" based on a formula that scores each Activity's impact on weighted Strategic Goals. An Objective with lower strategic impact might earn, say 50 points. A high impact project might earn, say, 257 points.

Role

Based on your role, you can earn a percentage of the Activity's points. Think of RACI (Responsible, Accountable, Consulted, Informed). If I am Accountable, I earn 100% of those points. If I am Responsible, I earn, say, 80% of those points.

Target

What we expect to achieve this quarter. In the OKR world, this is the metric associated with the Key Result. Think of S.M.A.R.T. measures. Some targets are found in your business plans, financial plans, or sometimes just in leadership's head!

Performance

Performance for any Activity has two key dimensions: Progress and Performance. Progress tells us how close you came to completion (e.g. I am Bordering Completion... 90% of the way done ). Performance is a reading of the quality of work done ( e.g. We have 98% first-call resolution of trouble tickets). Not all Activities have both types of metrics. All metrics are compared to the target. In cases where an Objective has more than one metric, the performance is based on an index of them.

The Shopping List of Possible Elements on the Employee Scorecard

At any time an employee / their team / their manager should be able to see:

Performance by Objective

How well am I doing against target. Number of Strategy Points earned vs. number of Strategy Points available for that Activity.

Performance by Role

How well am I doing across all the Activities for which I am the "Accountable" person? Separate from that on the scorecard from how well am I doing across all the Activities for which I am one of the the "Responsible" people?

Overall Performance Score

How well am I doing across all my Activities, weighted by my Role in each of those Activities. ( "Accountable Score" * 100%) + ("Responsible Score" * 80%) + etc.

Speed (or Velocity)

How many Strategy Points have I earned over this period (week, month, quarter)

Efficiency or Work

How many Strategy Points have I earned vs. resources used to earn those points. e.g (Strategy Points Earned) / (# Accountable and Responsible people involved)

Power

The rate at which progress is made.... Technically {(Unit of Work)/Time}. In this case we would use Work / Period (week, month, quarter)

Flow ("In-The-Zone" time)

"Flow" has some hard definitions to it (for more read Wikipedia or watch Mihaly's TED talk) My summary of Flow is... How much time at work are you "in the zone"? How much are you wholly invested in the present activity? If the challenges of your work are below your capabilities, you will be bored. If the challenges of your work exceeds what you have the capability of completing (either because of skills or capacity), you become anxious. The sweet-spot is the right mix of challenges for your capabilities.

We can measure flow with a combination of the above metrics and two survey questions for the employee.

Employee Engagement

An index that expresses the "stickiness" of your work. We can measure engagement by looking at the on-going progress made across some of the above measures.

Closing Comments

I am also interested in hearing your ideas around additional measures on that employee scorecard.

Please spend five minutes and work through our survey - and I'll let you know what we learn!

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