Core Success Measures

Well-managed and successful insurance companies have at least one thing in common. They have a clear understanding of what they need to accomplish over the short and long term. One of the best ways to ensure that this understanding and vision becomes a meaningful management tool is to translate this understanding into core success measures. Each core success measures is made up of three parts: the factor (what it is), the formula (that is used to calculate the result) and the standard (that must be attained to be successful).

These core success measures are not just at the corporate level. They are found throughout the company. Each division, department and team of employees has specific measures they must meet to ensure their area supports the corporation’s goals.

These measures are basic and fundamental. They are used to measure your strategy and actions. They tell you if you are on the right track and if things are working well . . . or not. If you do not have corporate measures, or do not have them for your operational areas, or if they are incomplete or out of balance – you will find it very difficult to keep everyone focused in the right direction, with the intensity you need to be successful.

We can look at your company and tell you if your measures are complete, balanced and working as they should be. If not, we can show you how to make the necessary improvements.

For additional thoughts on the value of core success measures click on the following monthly letters on this subject in the Concepts and Ideas section of this website:

Do You Have Everyone Pulling on the Same End of the Rope?
Are You Getting Full Value from your Success Measures?
Is It Time To Move To Expense Allowables?
What's the Secret Behind High Intensity Organizations?

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