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Metrics can create a false sense of security.
For example, Peloton held on to a near-rabid fandom as evidence of their success. When regulators started to question the safety of the company's treadmills, they focused harder on the strength of their brand and attacked the agency and the accuracy of the reports.
By February, the stock fell almost 70%, the CEO was replaced by the board, and nearly 2,800 employees were being laid off. However, the marketing and manufacturing employees knew of the company issues but were not empowered to make the right decisions.
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MORE IDEAS ON THIS
Many C-suite executives, supervisors, and managers are fixated on metrics to evaluate overall company performance and effectiveness. Employees are reminded that "What gets measured gets done."
Yet, there is another truth that is equally true. Jerry Muller,...
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194 reads
The best way to build a culture where your team buys into the goals and feel intrinsically motivated starts with trust. Most companies measure trust by tacit approval and execution of plans or a lack of discussion on the goals. But that is not trust; it's...
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82 reads
It's tempting to only rely on metrics that are easy to measure, but they often give us only half the story.
An obsession with performance indicators can make organizations rigid, shortsighted, and dismissive of innovation.
Data around reputation, loyalty, trust, satisfaction and more ...
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95 reads
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