Do You Capture Measurements and Are They the Right Ones?

You’ve heard the expression “If you aim for nothing, you’ll hit it every time.” What measurements are you/your team keeping track of to see where you are currently and what you need to implement so you can improve? Did you know there are 2 kinds of measurements – lead indicators and lag indicators? Input or lead metrics are those things that influence the outcome. Things like scheduled focused employee training/coaching, regular scheduled maintenance of equipment, or the number of projects scheduled over the next 3-6 months. Output or lag metrics are those things that show the outcome after the task/project is complete. Examples are the number of safety incidents over the last 3 months, sales figures for the last quarter, or machine downtime. Both types of metrics are meaningful, and both are necessary, when you want to make productivity improvements to positively change effectiveness and efficiency. Leaders who want to manage risk will measure lead metrics and implement strategies to lay the framework for improved lag metrics. Where are your opportunities? I’d love to hear your thoughts.