Choosing your success measures
✔ You've defined what success looks like.
✔ You've determined the business drivers.
It's time to choose how you are going to measure.
The good news is that measuring success doesn't have to be hard. It requires some planning and building a framework which measures success based on the goals and objectives of your digital workplace. As outlined in the Plan Stage, there are two fundamental ways to measure the success of your digital workplace:
- Return on Investment (ROI): Measures the cost savings and/or incremental revenue your digital workplace provides to the organization.
- Return on Objectives (ROO): Measures the incremental value the digital workplace brings to your organization.
Most organizations start their measurement plan by measuring against key corporate objectives. This helps to focus on the incremental value that your digital workplace brings to your business rather than on monetization (e.g. driving costs down or revenue up). ROO is a great way to measure how well your employees, teams, and organization are doing in meeting the business challenges they're trying to address.
Creating a measurement framework
Once you've decided on the what, when, and how you are going to measure success, the next step is to build a repeatable measurement framework. The table below outlines four simple steps to help you get started with measuring the overall success of your digital workplace initiative regardless of where you are in your digital transformation journey.
Sample measurement framework
Step 1: Set Objectives
- Align your measures of success with your overall business strategy.
- Ensure your plan has clearly defined goals, objectives and measurable outcomes.
Step 2: Create a KPI Chart
- Determine a set of key performance indicators (KPIs) for your digital workplace.
- Align them to the challenges you are trying to solve and your key objectives.
- Set out clear metrics with timelines.
- Create a KPI Chart.
Step 3: Track Results
- Choose your tools for data analytics and reporting.
- Align reports to measure specific digital workplace activities and/or business processes.
- Build and/or configure your analytics and reports.
- Set the frequency and cadence of your analytics and reports.
Step 4: Analyze and Action
- Determine who your analysts are.
- Compare the analytics and reports against your KPIs.
- Set out clear action plans to drive momentum and mitigate potential risks.