We often think of metrics as a way to understand the health of the business, but an even more critical role for metrics is to guide employees’ behavior into doing the things that matter.
In a recession, stopping the leakage must become priority #1, because the bottom line must be protected at all costs as revenue growth stalls and other sources of financing dry up.
Execution, especially when crisis calls for rapid adaptation, is all about people. Quickly pivoting to a new strategy? It’s on the employees. Finding creative ways to operate despite shortages? It’s on the employees. Staying focused on what matters despite uncertainty? It’s on the employees.
Why does the vast majority of companies fail to meet their goals and grow? The single biggest factor to determine whether the strategy will be successful is obvious: the entire company must be aware of the strategy.
