Stranded in the boardroom with the CEO, which 5 metrics would you choose?

Many of us have been asked, “If you were stranded on an island which 5 items would you choose to bring”. Another variation of the question is sometimes, “which 5 people would you include in your life boat if you were stranded at sea”. Regardless of the question, the exercise remains the same – choose a limited number of things that are the most important in overcoming a situation. While this is a fun to ponder many of us put a great deal of thought into our answers. Furthermore, we base those answers on our objective, which is typically to survive on the island (or in the boat) and/or to be rescued. HR and Staffing professionals can use a variation of this exercise to improve or create their own objective based metrics.

I would suggest that you start by asking the question – “If I were stranded in the boardroom with the CEO, which 5 metrics would I choose to discuss?” Please suspend disbelief that being stuck in a room with the CEO would lead to a conversation about metrics or performance in your organization (though it has in mine). Keep that question in mind as you go through the exercise. Below is a step-by-step process that will help you separate and prioritize your metrics. It may seem simple but it is a necessary and can provide valuable insight.

List the top 3-5 objectives of your organization (as stated by the CEO).

List the top 3-5 objectives of your HR department (as stated by your CHRO or leader)

List all of the things you currently measure

Beside each measurement state briefly why you measure it

Match up each measurement with each objective (CHRO or CEO). If you have measures that are not associated with any of the objectives you've listed then throw them away and stop measuring them. They are a waste of time and resources.

Pick the top 3-5 measurements that most strongly identify whether or not you are achieving the specific objective. Those are your METRICS.

The additional measures that are left are what we’d call "activity indicators". They may be important to running the day-to-day operations of the business but are not Metrics associated with objectives.

We believe that some of the top Metrics below can be associated with most company objectives and that there are optimal ways to measure each. There are clearly others but these metrics can help you get started.

Time, Quality, Cost, Satisfaction, Retention & Engagement